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Area firms pledge 365 jobs

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Two Central Indiana firms will receive tax incentives for growing their operations by a combined 365 workers by 2015, Indiana economic development officials announced Wednesday.

Stratosphere Quality, LLC, a sorting and inspection service provider, said it will spend $2.6 million to upgrade its Fishers headquarters and plans to add 225 employees to its worker base of 800.

Indianapolis-based Archway Technology Partners, Inc., which helps investment-management firms integrate back-office functions, intends to invest $1.7 million to double its north-side headquarters and add 140 jobs.

The state will offer Stratosphere up to $1.5 million in tax credits and $200,000 in training grants, and will give Archway $2.4 million in tax credits and $100,000 in training grants. The companies cannot claim the credits until employees are hired, according to Indiana Economic Development Corp. officials.

Entrepreneur Steven J. Cage launched Stratosphere in 2009, the same day a similar company he had founded nearly two decades earlier closed its doors. Product Action International, which became an industry leader in the quality-control business, shut down on Feb. 13, 2009, five years after Cage sold the company. He remained its board chairman until at least 2008.

As IBJ reported in 2009, Stratosphere appeared to pick up some of the business from Product Action International, which focused on the auto industry. Stratosphere’s customer base is broader, also including parts-manufacturers in the appliance, medical device and construction industries, according to the IEDC.

Archway was founded eight years ago and doubled in size its first two years of operation. Last year, CEO Jason Brown, told IBJ the company was expected to grow by 80 percent and extend an ownership stake to its 30 employees. It was one of the fastest-growing private companies in the Indianapolis area in 2010, reporting revenue of $3.8 million, and made Inc. magazine's annual Inc. 500 list the same year.

The company already has begun hiring for new positions that include software engineers and business development specialists.

Stratosphere and Archway are among 33 companies that pledged to grow or locate in Indiana this year. The state touted a record year for job commitments, with 219 companies pledging 19,000 new jobs.

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  1. Now if he'd just stay there...

  2. Daniel - what about the many US citizens who do NOT follow what the Bible teaches? The Hindus, Jews, Muslims and others who are all American citizens entitled to all rights as Americans?? This issue has NOTHING to do with "What the Bible says..." Keep all Churches separate from State! Pence's ongoing idiocy continues to make Indiana look like a backwards, homophobic state in the eyes of our nation. Can't we move on to bigger issues - like educating our kids?

  3. 1. IBJ should link to the referenced report. We are in the age of electronic media...not sharing information is lazy. Here is a link http://www.in.gov/gov/files/Blue_Ribbon_Panel_Report_July_9_2014.pdf 2. The article should provide more clarity about the make-up of this panel. The commenters are making this item out to be partisan, it does not appear the panel is partisan. Here is a list of the panel which appears to be balanced with different SME to add different perspectives http://www.in.gov/activecalendar/EventList.aspx?view=EventDetails&eventidn=138116?formation_id=189603 3. It suggests a by-pass, I do not see where this report suggests another "loop". 4. Henry, based on your kneejerk reaction, we would be better off if you moved to another state unless your post was meant as sarcasm in which case I say Well Done. 5. The article and report actually indicates need to improve rail and port infrastructure in direct contradiction to Shayla commentary. Specifically, recommendation is to consider passenger rail projects... 6. People have a voice with their elected officials. These are suggestions and do not represent "crony capitalism", etc. The report needs to be analyzed and the legislature can decide on priorities and spending. Don't like it, then vote in a new legislature but quit artificially creating issues where there are none! People need to sift through the politics and provide constructive criticism to the process rather than making uninformed comments in a public forum based on misinformation. IBJ should work harder to correct the record in these forums when blatant errors or misrepresentations are made.

  4. Joe ... Marriage is defined in the Bible ... it is mentioned in the Bible often. Marriage is not mentioned once in the US or Indiana Constitution ...

  5. Daniel - Educate me please: what does the Bible have to do with laws? If the government wasn't in the business of marriage to begin with, then it wouldn't have to "define" marriage at all. Marriage could be left as a personal, religious, or otherwise unregulated action, with no ties to taxes, legal status, etc. Then people could marry whomever they want, and all this silliness would go away. Remember to vote Libertarian in November.

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