Schwab jumping to Indy, adding 300 jobs

August 15, 2008

Charles Schwab & Co. will create as many as 300 jobs by 2013 at its regional client center, the Indiana Economic Development Corp. said this afternoon.

The center will be moved from Fishers to a larger location in Woodfield office park in Indianapolis.

Schwab has 800 workers at 12115 Visionary Way in Fishers, near Interstate 69 and State Road 37.

The company plans to invest $25 million on the expansion.

San Francisco-based Schwab received $3.8 million in incentives based on reaching job-creation targets. Indianapolis also offered 10 years of property tax abatements.

Schwab's move is the latest in an ongoing skirmish between neighboring cities in the Indianapolis area, a conflict detractors say is counterproductive.

Despite a long-standing gentlemen's agreement among the cities and towns not to poach each others' businesses, several companies have jumped back and forth in recent months, lured by lucrative incentives.

Earlier this summer, Bowen Engineering Corp. said it would move its offices from Fishers to a larger location on the far north side of Indianapolis and create 103 positions.

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