Allied Solutions LLC, a Carmel-based firm that serves the financial sector, plans to spend $32.9 million to build a new headquarters in Carmel, where it intends to add up to 600 employees by the end of 2025.
Allied officials announced Thursday that the business is planning construction of a five-story building in the Midtown area, more than doubling the size of its existing leased headquarters in Carmel at City Center Drive and Pennsylvania Street.
Old Town Development is set to develop the 137,000-square-foot building. Allied will lease the top four floors of t he building and the first floor will be leased to another local company that hasn't been announced, along with several restaurants.
Plans also call for a four-story parking garage with 600 to 700 spaces that will be open to the public.
Allied Solutions, a 38-year-old company that sells insurance, lending, and marketing products to financial institutions across the country, said it is needs the additional space to accommodate growth.
The company has more than 980 employees at 17 regional offices and service centers across the country, including more than 420 in it Carmel offices.
The Indiana Economic Development Corp. offered $4 million in tax credits to Allied, contingent on the company meeting job-creation goals. The City of Carmel will use tax-increment financing to pay for the construction of the parking garage.
Allied Solutions said it is already hiring for various positions in its customer service, claims and information technology departments. New positions are expected to pay wages above the state average, which is about $43,000 per year.
Carmel economic development officials expect the development to give a major boost to the redevelopment of Midtown, a largely industrial area that connects the Arts & Design District to the City Center and the Center for the Performing Arts.
“Today we celebrate in Carmel two things: the success and expansion of one of our corporate partners and the bright future for development in the Midtown redevelopment area,” Carmel Mayor Jim Brainard said in written remarks. “Both announcements are endorsements of our economic development efforts, which include investing in our infrastructure and encouraging sustainable and walkable environments. We look forward to watching both Allied Solutions and Midtown grow in the future.”