Allegion Americas plans to spend $4 million on an expansion at its regional headquarters in Carmel that will lead to the addition of 125 high-paying jobs by the end of 2020, the city of Carmel announced Monday.
City officials said Allegion subsidiary, Schlage Lock Co. LLC, has purchased a building on the southeast corner of Pennsylvania Street and College Drive, just south of its current offices, to accommodate the expansion.
The company already employs more than 500 people at the location, the city said.
The jobs are expected to pay an average of $83,000 annually.
Carmel has offered to support the expansion with a 10-year property-tax abatement on the company’s investment in personal property, but financial details weren’t available as of Monday afternoon.
A city spokeswoman said the company has not yet filed the proper paperwork for the tax incentives. Any incentives will need approval from the Carmel City Council.
Allegion Americas was formed in 2013 by Irish industrial conglomerate Ingersoll Rand. The firm previously operated out of Carmel as Ingersoll Rand’s Security Technologies division.
Today, the Allegion Americas regional headquarters houses a wide range of experts in departments such as engineering, marketing and communications, legal, information technology, finance and human resources.
The company produces security products for residential and commercial markets.