Downtown tech firm planning to add 20 software developers

Indianapolis software firm Inverse-Square on Tuesday announced plans for an expansion in downtown Indianapolis that is expected to create 20 jobs over the next four years.

The company, which makes custom data-tracking software for its clients, plans to move into a bigger office space in the Stutz Business Center within the next six months, giving it a total of 3,000 square feet.

Inverse-Square, founded in 2011, currently has 13 employees. It said it plans to begin hiring software developers at a wage nearly double the state’s average pay of $21.21 per hour.

The Indiana Economic Development Corp. offered RapidBit Development LLC, which does business as Inverse-Square, up to $185,000 in conditional tax credits and up to $100,000 in training grants based on the job-creation plans. The incentives won’t be paid unless hiring goals are met, the IEDC said.

Inverse-Square’s clients include not-for-profits, financial services companies and real estate firms based in Indiana and in locations around the world, including Europe, the Middle East and Asia.

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