A regional electric transmission management organization announced plans Thursday morning to invest $30 million in its Carmel headquarters.
Midcontinent Independent System Operator Inc. plans to add 84 employees by 2020 after reconfiguring its 133,409-square-foot facility at 720 City Center Drive to increase efficiency.
MISO currently has close to 700 employees at its headquarters and more than 940 employees nationwide. The not-for-profit also has facilities in Arkansas, Minnesota and Louisiana.
Average wages for the new positions are expected to be more than double the $50,500 average wage in Hamilton County. Hiring has already started.
The Indiana Economic Development Corp. is offering MISO up to $1.6 million in conditional tax credits and $100,000 in training grants based on the job-creation plans. The company won’t receive the benefits until employment goals are met.
According to a press release from the IEDC, the city of Carmel is considering other incentives, but the city rarely offers additional benefits.
“Indiana has been our home since we first started, and we are proud to continue that investment,” president and CEO John Bear said in a written statement.. “Fulfilling our mission of ensuring reliable operation of the electric grid requires the best and the brightest. This commitment to our Carmel facility will ensure that we have the people and technology to continue that mission in a way that provides value to our region.”
MISO formed in 1998 and became the first regional transmission organization in 2001.
The company manages more than $37 billion in annual gross market energy transactions.
In 2013, the corporation had $308 million in revenue, according to public filings.