IBJNews

Newegg lands incentives from state for distribution center

Back to TopCommentsE-mailPrintBookmark and Share

Online electronics retailer Newegg Inc., which reached an inducement deal with the city in September to open a distribution center in Indianapolis, has landed even more incentives from the state, the Indiana Economic Development Corp. announced Wednesday.

As IBJ reported Sept. 13, California-based Newegg plans a Midwest fulfillment and distribution center at 6161 Decatur Boulevard in Ameriplex World Connect park that would employ 150 people making an average of $11.50 per hour by the end of 2015.

The company plans to spend $20 million to lease, renovate and equip nearly 500,000 square feet.  The center should be open by the end of next year.

The IEDC offered Newegg up to $1 million in conditional tax credits and up to $100,000 in training grants, based on the company's job-creation plans.

Newegg previously received approval for a seven-year partial tax abatement from the Metropolitan Development Commission.

The Newegg investment would add $5.9 million to the local tax base, and the company would pay $441,508 in personal property taxes over the life of the seven-year abatement, according to Department of Metropolitan Development. The abatement would save the company $723,421, or 62 percent of its tax bill, over that period.
After the abatement expires, the company is expected to pay $134,415 in annual personal property taxes.

The Indianapolis order-fulfillment center will enable Newegg to handle 30,000 different products and ship tens of thousands of orders daily to Midwestern customers, with production increases likely during peak seasons.

Positions will include managers and forklift operators. Other jobs will be available in receiving, order picking and packing, shipping and clerical-related operations.

Newegg, founded in 2001, says it is the country's leading electronics-focused Web retailer, with 22 million registered customers and $2.5 billion in annual revenue. It has about 2,600 employees worldwide.


 

ADVERTISEMENT

  • question
    Can I come into your Indy location and BUY something? (and of course pay Ind. sales tax)
  • Brilliant
    So IEDC offers ADDITIONAL incentives to make sure they are really, really going to come? I read this as a done deal a few weeks back.
  • Nice!!!
    My favorite site to get electronics!!

Post a comment to this story

COMMENTS POLICY
We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
 
You are legally responsible for what you post and your anonymity is not guaranteed.
 
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
 
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
 
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
 

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by
ADVERTISEMENT

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
 
Subscribe to IBJ
  1. Of what value is selling alcoholic beverages to State Fair patrons when there are many families with children attending. Is this the message we want to give children attending and participating in the Fair, another venue with alooholic consumption onsite. Is this to promote beer and wine production in the state which are great for the breweries and wineries, but where does this end up 10-15 years from now, lots more drinkers for the alcoholic contents. If these drinks are so important, why not remove the alcohol content and the flavor and drink itself similar to soft drinks would be the novelty, not the alcoholic content and its affects on the drinker. There is no social or material benefit from drinking alcoholic beverages, mostly people want to get slightly or highly drunk.

  2. I did;nt know anyone in Indiana could count- WHY did they NOT SAY just HOW this would be enforced? Because it WON;T! NOW- with that said- BIG BROTHER is ALIVE in this Article-why take any comment if it won't appease YOU PEOPLE- that's NOT American- with EVERYTHING you indicated is NOT said-I can see WHY it say's o Comments- YOU are COMMIES- BIG BROTHER and most likely- voted for Obama!

  3. In Europe there are schools for hairdressing but you don't get a license afterwards but you are required to assist in turkey and Italy its 7 years in japan it's 10 years England 2 so these people who assist know how to do hair their not just anybody and if your an owner and you hire someone with no experience then ur an idiot I've known stylist from different countries with no license but they are professional clean and safe they have no license but they have experience a license doesn't mean anything look at all the bad hairdressers in the world that have fried peoples hair okay but they have a license doesn't make them a professional at their job I think they should get rid of it because stateboard robs stylist and owners and they fine you for the dumbest f***ing things oh ur license isn't displayed 100$ oh ur wearing open toe shoes fine, oh there's ONE HAIR IN UR BRUSH that's a fine it's like really? So I think they need to go or ease up on their regulations because their too strict

  4. Exciting times in Carmel.

  5. Twenty years ago when we moved to Indy I was a stay at home mom and knew not very many people.WIBC was my family and friends for the most part. It was informative, civil, and humerous with Dave the KING. Terri, Jeff, Stever, Big Joe, Matt, Pat and Crumie. I loved them all, and they seemed to love each other. I didn't mind Greg Garrison, but I was not a Rush fan. NOW I can't stand Chicks and all their giggly opinions. Tony Katz is to abrasive that early in the morning(or really any time). I will tune in on Saturday morning for the usual fun and priceless information from Pat and Crumie, mornings it will be 90.1

ADVERTISEMENT