A Carmel-based software developer announced plans Monday to hire 30 employees by the end of 2019 as part of a $1.1 million expansion.
EduSource said it plans to move into a 7,000-square-foot office in Carmel by August to accommodate the growth. The new office will provide more than five times the space as its current location at 9800 Association Court, north of East 96th Street between Keystone Avenue and Gray Road.
A company official said the firm was still in lease negotiations and declined to reveal the probable location for the new office.
Founded in 2012, EduSource develops custom software for businesses by using a unique workforce model that it says is designed to make its products and services more price-competitive.
The company pairs its fulltime software engineers with paid student apprentices to build the custom software. The trained apprentices work for EduSource for two years and handle the type of coding work that is often outsourced overseas by other software firms.
EduSource currently has 26 fulltime employees and 13 student apprentices. It has begun hiring additional computer engineers, business analysts, project managers, sales associates and administrative employees.
The new positions are expected to pay, on average, about $77,000 per year—about 75 percent more than the state’s average wage.
The Indiana Economic Development Corp. offered Jrbeutler Inc., which does business as EduSource, up to $300,000 in conditional tax credits and up to $120,000 in training grants based on the job-creation plans. The incentives hinge on the firm’s ability to meet hiring goals.
The company had 21 fulltime employees when it contacted the IEDC about the incentives, which means it will need to have 51 fulltime employees by the end of 2019 to fully comply with the agreement. Student apprentices won’t be counted toward the employment goals.
“EduSource’s unique business model is changing the equation for software development, IEDC President Elaine Bedel said in written comments. "By training the next generation of Indiana's tech leaders, EduSource is growing its business while actively investing in tomorrow’s Hoosier workforce, ensuring that the state is prepared to capitalize on our future as a top hub for innovation and entrepreneurship.”
EduSource’s primary client base consists of contract research-management organizations, financial institutions, small business management software companies, and government warrant and arrest systems.
Company officials said clients like the student apprentice model because they can work with a company that “offers a common language, local time zone and cost-efficient solutions.”
Many of the apprentices are computer science majors from Indiana schools including Purdue University, Taylor University and Rose-Hulman Institute of Technology. Some of the apprentices have gone on to take fulltime positions with the firm.