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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. So much for Eric Holder's conversation about race. If white people have got something to say, they get sued over it. Bottom line: white people have un-freer speech than others as a consequence of the misnamed "Civil rights laws."

  2. I agree, having seen three shows, that I was less than wowed. Disappointing!!

  3. Start drilling, start fracking, and start using our own energy. Other states have enriched their citizens and nearly elminated unemployment by using these resources that are on private land. If you are against the 'low prices' of discount stores, the best way to allow shoppers more choice is to empower them with better earnings. NOT through manipulated gov mandated min wage hikes, but better jobs and higher competitive pay. This would be direct result of using our own energy resources, yet Obama knows that Americans who arent dependent of gov welfare are much less likely to vote Dem, so he looks for ways to ensure America's decline and keep its citizens dependent of gov.

  4. Say It Loud, I'm Black and Ashamed: It's too bad that with certain "black" entertainment events, it seems violence and thuggery follows and the collateral damage that it leaves behinds continues to be a strain on the city in terms of people getting hurt, killed or becoming victims of crimes and/or stretching city resources. I remember shopping in the Meadows area years ago until violence and crime ended make most of the business pack you and leave as did with Lafayette Square and Washington Square. Over the past 10 to 12 years, I remember going to the Indiana Black Expo Soul Picnic in Washington Park. Violence, gang fights and homicides ended that. My great grandmother still bears the scares on her leg from when she was trampled by a group of thugs running from gun fire from a rival gang. With hundreds of police offices downtown still multiple shootings, people getting shot downtown during Black Expo. A number of people getting shots or murdered at black clubs around the city like Club Six on the west side, The Industry downtown, Jamal Tinsley's shot out in front of the Conrad, multiple fights and shootings at the skating rinks, shootings at Circle Center Mall and shooting and robberies and car jackings at Lafayette Mall. Shootings and gang violence and the State Fair. I can go on and on and on. Now Broad Ripple. (Shaking head side to side) Say It Loud, I'm Black and I'm Ashamed.

  5. Ballard Administration. Too funny. This is the least fiscally responsive administration I have ever seen. One thing this article failed to mention, is that the Hoosier State line delivers rail cars to the Amtrak Beech Grove maintenance facility for refurbishment. That's an economic development issue. And the jobs there are high-paying. That alone is worth the City's investment.

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