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KAR plans to add 249 jobs in Carmel expansion

 IBJ Staff
November 15, 2010
Keywords
Economic Development, Government & Economic Development, Hamilton County, Job Creation, KAR Auction Services, Regional News, Transportation, Distribution & Logistics
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KAR Auction Services Inc. announced Monday night that it plans to expand its Carmel headquarters, creating up to 249 jobs by 2015.

The company, which currently employs more than 500 in Carmel, said it will "invest several million dollars to lease and equip more space at its existing facility at 13085 Hamilton Crossing Blvd."

KAR plans to begin hiring additional customer-service and management personnel in the first quarter of 2011, with additional hires planned throughout the next five years, it said.

The Indiana Economic Development Corp. offered KAR up to $4.5 million in performance-based tax credits and up to $200,000 in training grants based on the company's job-creation plans. The city of Carmel will consider additional property-tax abatement.

The company said the growth is the result of recent acquisitions and consolidation of certain corporate functions.

KAR is the holding company for Adesa Inc., a leading provider of wholesale used vehicle auctions; Insurance Auto Auctions Inc., a national salvage auto auction company; and Automotive Finance Corp., a provider of financing to used vehicle dealers.

The company recently reported third-quarter profit of $25.6 million on revenue of $445.3 million.

Overall, KAR employs nearly 11,000 in the United States, Canada and Mexico. KAR's network of companies includes 70 ADESA whole car auctions, 159 Insurance Auto Auctions Inc. salvage vehicle auctions, and 88 AFC loan production offices.

"Indiana has proven to have a competitive business climate and a skilled workforce," said KAR CEO Jim Hallett in a prepared statement. "So when it came time to expand our operations, it made sense to do so in Carmel. We are excited by this opportunity and we appreciate the city's support for our continued growth."

 

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  1. If a television station wants to improve viewership, get rid of the local blackout. I was born by the brickyard, and have attended 15 or more races. I have children now, I won't attend unless circumstances are perfect. As those with growing families know, they never are. I'm always impressed that upwards of 250,000 people attend the 500. However, as a growing, or, more apt, sprawling city, Indianapolis and its immediate suburbs count almost 2.2 million. Show the race live, let the venue get a kick-back on revenues, and open-wheel racing might have a fighting chance to be relevant again. Just in time for those tax-payer lights to make sense.

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