The Indianapolis City-County Council on Monday night approved a personal property-tax abatement for India-based technology firm Infosys, which earlier this year announced plans to expand in Indianapolis.
The 10-year tax abatement will apply to IT equipment of up to $400 million and is contingent on the company creating at least 300 jobs—software engineers, technical leads, and project managers—that pay around $37 per hour. Infosys has announced plans to hire 2,000 people in total by 2021.
“It’s such a tremendous offering to the city,” Vice President Zach Adamson said of Infosys’ plans. “These are some really high-tech jobs with a very high wage range, which is exactly what we’re hoping to add more of. Many of these positions will be held by young professionals, which is also something we’re trying to encourage.”
The proposal passed 23-1, with councilman Stephen Clay voting against the proposal.
Council woman LaKeisha Jackson said she was encouraged by the proposal but wants to challenge the mayor’s office and the administration on tracking tax abatements for companies promising to create high-paying jobs to make sure that at least a percentage go to people who live within Marion County.
Infosys announced in May that it would establish the company’s first Technology and Innovation Hub in the United States in Indianapolis, with another in Raleigh, North Carolina.
The city of Indianapolis said it would offer Infosys the personal property-tax abatement at the time, as well as a $2.5 million training grant.