Locally based Environmental Forensic Investigations Inc. plans to move into a larger headquarters in Indianapolis, doubling its employment to 84 over the next five years.
The environmental engineering firm, which does business as EnviroForensics, detailed its expansion plan in a tax-abatement request released by the Department of Metropolitan Development on Monday.
EnviroForensics said it needs more room for its corporate offices due to increased demand for its services, which include the detection and remediation of soil and groundwater contamination. The company's 42 local employees now work in leased space at 602 N. Capitol Ave. It also has offices in Wisconsin and California.
Company officials plan to purchase a vacant 36,000-square-foot retail building at 823 N. Capitol and spend almost $1 million to redevelop it into its headquarters.
DMD staff is recommending EnviroForensics receive a eight-year property-tax abatement that will save it 56.5 percent, or almost $44,900, over the abatement period. The company would still pay about $208,400 in property taxes over the abatement period, plus more than $31,500 annually after the abatement period ends.
EnviroForensics said the project will help it retain 42 employees making an average wage of $33.12 per hour and add 42 workers making an average of $27.99 per hour by the end of 2020.
"In staff’s opinion, a project such as this would not be economically feasible without the tax abatement incentive," DMD staff wrote. "Staff believes that the use of tax abatement is an appropriate tool to assist with this project and support continued development within Marion County."
The company's petition will receive its first hearing Wednesday at the Metropolitan Development Commission meeting and could receive final approval at the May 20 MDC meeting.
EnviroForensics was founded by CEO Stephen Henshaw in 1996 in San Francisco, and it moved to Indianapolis in 2001.