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Stonegate Mortgage to relocate growing firm to Indianapolis

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Stonegate Mortgage Corp. will move its growing operation to Indianapolis in the next few months after a deal to expand in Fishers fell through.

Six months ago, the company unveiled plans to add 300 jobs by 2015 as it moved its headquarters into 29,000 square feet of office space on Crosspoint Boulevard, overlooking Interstate 69.

But Stonegate leaders were not able to negotiate an acceptable lease there. Instead, officials announced Thursday that the company has signed a deal to rent office space in the Precedent office park in Marion County.

The job-creation plans remain unchanged, Indianapolis economic development officials said in a news release. In fact, Stonegate already has begun hiring.

Develop Indy will support a local property tax abatement request to replace the 10-year, $760,000 abatement the town of Fishers had offered. Indiana Economic Development Corp. already offered Stonegate as much as $3.7 million in performance-based tax credits and $50,000 in training grants based on its job-creation plans.
 
 

 

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  • No Ones Fool
    As both Fishers and Carmel has found in the past, concessions to these type of mortgage operations are fleeting and havent delivered the benefits promised.
  • bidding war
    This location is just off 96th street, so barely in Indianapolis. Stonegate apparently played it smart in getting the two jurisdictions in a bidding war for property tax benefits.
  • Great news
    This is great news for Indianapolis. The city needs to focus on getting businesses to locate to the city (preferably downtown, but I'll take anywhere in the city limits). The time has come to recognize that suburbs aren't everything to everyone, and businesses belong int he urban core. Thanks for the great news, Stonegate!

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  1. I keep wondering why I keep hearing about this problem of corporations leaving America, and I never hear a reasonable proposal to lower corporate tax rates and raise personal rates on income from capital gains and dividends, especially for high earners. It is just too simple of a solution for Congress to embrace?

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  3. is a disaster. SR37 already needs to be built to interstate standards between 465 and SR144. Southport Road is a mess each morning and evening.

  4. Bass Pro Shops would be good for the mall as well as a Giant Eagle Market District or a Jungle Jim's International Market Place grocery store like the one near Cincinnati Ohio.A Disney quest indoor theme park would be good.An Academy outdoor store would be good too.Indoor Circus shows and magic shows would be good as well. A casino with sports bar would be good.A Disney theater inside that shows movies and Broadway shows would work.Nashville Tennessee concert shops with indoor neon lights would be good.How about a theater that shows travel shows and theme parks. A train store would be good.How about a giant toy store with high tech video games.

  5. This development is in addition to Allpoints Midwest 5, Aitrtek, a recent FedEx and more in Plainfield. Greenwood and Brownsburg also have similar projects.

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