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Polaris plans $4.7 million laboratory expansion

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Polaris Laboratories LLC, an Indianapolis-based company that analyzes oil, fuel and coolants, said it plans a $4.7 million local expansion that will add up to 25 employees by 2016.

The 14-year-old company, based at 7898 Zionsville Road, announced Wednesday that it will open a 61,000-square-foot facility at 7451 Winton Drive by this fall. The new labs, near Georgetown Road and 71st Street, will help the company process additional samples and improve workflow, it said.

The Indiana Economic Development Corp. offered Polaris up to $100,000 in performance-based tax credits and up to $70,000 in training grants based on its latest job-creation plans.

To qualify for the incentives, however, the company must still meet the requirements of a previous jobs-creation agreement with the IEDC.

In 2008, Polaris agreed to add 80 jobs to its then-workforce of about 80 by 2014 in exchange for up to $400,000 in performance-based tax credits and up to $85,000 in training grants.

Polaris currently has about 130 workers.

“The 2008 project is based on reaching a headcount of approximately 160 employees,” an IEDC  spokeswoman said Wednesday morning. “The company will not be able to claim incentives for its [new] project employment goals until it has reached a base of approximately 160 employees.”

Polaris operates seven laboratories with more than 165,000 customers in more than 90 countries.

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