Midwest Independent Transmission System Operator Inc. in Carmel announced today that it will create nearly 70 new jobs within the next five years.
The company, which manages the flow of electricity for its member utilities in 13 states and a Canadian province, plans to invest about $110 million to upgrade computer equipment and software at its headquarters.
Midwest ISO currently employs 650 people and plans to begin hiring more engineers and technicians later this year to develop and operate the new technology.
The Indiana Economic Development Corp. offered Midwest ISO up to $1.1 million in performance-based incentive payments and up to $219,000 in training grants based on the amount of jobs created. The city of Carmel will provide a 10-year property tax abatement for any new facilities constructed.
Lt. Gov. Becky Skillman joined Midwest ISO executives in making the announcement.
“I am pleased to see Midwest ISO recognize the value Indiana offers to businesses and solidify its commitment to the state with such a significant investment,” she said in a written statement.
Midwest ISO began operating in early 2002. It is a Federal Energy Regulatory Commission-approved company responsible for coordinating the operation of the wholesale electric transmission system – an area that encompasses more than 110,000 miles of interconnected high voltage transmission lines.