The Indianapolis-based office-supply company Office360 on Wednesday morning announced an expansion that's expected to create up to 30 jobs by 2022.
The firm, which currently has 91 full-time workers, also said it will invest $764,500 to update equipment at its 80,000-square-foot headquarters at 7301 Woodland Drive on the northwest side, allowing it to modernize its IT systems and improve its overall cost effectiveness.
"We are very fortunate to be based in Indiana. Its central location and pro-business climate—including its reasonable taxes and fair-minded regulations—allow us to succeed and grow with confidence," Steve Nahmias, one of Office360's principals, said in a statement.
The company has grown rapidly since its founding in 2008, and this is its second expansion in five years. In 2012, the company said it planned to add 25 jobs, a target it exceeded.
IBJ in 2016 recognized Office360 as No. 24 on its Fast 25, the publication's list of fastest-growing central Indiana private companies. From 2013 to 2015, revenue swelled 70 percent, from $15.8 million to $26.9 million.
In a profile accompanying that list, Nahmias said his firm is “the overall low-cost provider.” Office Depot and Staples have a short list of items that are really cheap, he said, “and then at the end of the day you pay a lot of money for everything else.”
In return for Office360's latest expansion, the Indiana Economic Development Corp. offered the company up to $125,000 in tax credits and up to $110,000 in training grants. The incentives are performance-based, meaning Office360 can't claim them until workers are hired.