A local tech company that fell far short of its job-creation goal after reaching incentive agreements with the state and city two years ago is ready to try it again.
Indianapolis-based Fusion Alliance Inc. announced Tuesday morning that it plans to create up to 107 jobs by 2014 by investing more than $2.2 million to lease and equip additional space at its northwest-side headquarters in Park 100. The Indiana Economic Development Corp. is offering the company up to $1.5 million in performance-based tax credits based on the job-creation plans. The city of Indianapolis will consider property-tax abatement at the request of Develop Indy.
The Web site and software developer currently has 175 employees in Indianapolis and 50 in Cincinnati.
However, the company said it had 190 local employees and 30 in Cincinnati in January 2008 when it said it would spend $2 million and create 110 local jobs by 2010. Based on those plans, the Indiana Economic Development Corp. said it would offer the firm $250,000 in training grants and the city said it would offer property-tax abatement.
Fusion CEO Douglas Brown said Tuesday morning that the company actually only had 157 employees when it applied for the earlier incentives. He acknowledged the company fell far short of its job-creation target, but did create 18 jobs.
Gov. Mitch Daniels and Indianapolis Mayor Greg Ballard praised the new agreement in separate news releases issued Tuesday morning, but state and city officials listed as contacts on those releases did not return several phone calls to explain the new incentives.
IEDC spokeswoman Blair West on Tuesday afternoon said Fusion did not receive a tax abatement for its 2008 incentive package. She said the company had been eligible to receive up to $200,000 in training grants, but ultimately received $70,267.
Founded in 1994, Fusion Alliance is the largest Indianapolis-area Web site and software developer in terms of employment, according to IBJ research. The company also ranks fourth among area computer consulting firms.