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Stonegate Mortgage to relocate growing firm to Indianapolis

 IBJ Staff
June 17, 2011
Keywords
Banking & Finance, Economic Development, Expansion, Fishers, Headquarters Relocations, Job Creation, Mortgage Lenders, Mortgages, Regional News, Relocation
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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
    Once StungJune 17, 2011 3:01 PM
    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.
    Reply to CommentFlag Comment
  • bidding war
    artJune 17, 2011 11:15 AM
    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.
    Reply to CommentFlag Comment
  • Great news
    MaximillianJune 17, 2011 9:02 AM
    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!
    Reply to CommentFlag Comment

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