Indianapolis-based ShipSigma, which markets a technology designed to help customers reduce their shipping costs, announced plans Tuesday to spend $2 million on an expansion that will add 125 employees by the end of 2026.
Founded in 2018 as Parcel Optimization Technologies LLC, the company does business as ShipSigma and currently has 25 employees. Its headquarters is at 235 S. Meridian St., a 6,000-square-foot space that it leased late last year.
The company said the new jobs will offer an average wage of nearly $42 per hour.
ShipSigma said the Indiana Economic Development Corp. has offered it up to $2.3 million in incentive-based tax credits and $75,000 in training grants, based on the job-creation numbers. The incentives are performance-based, meaning that the company cannot claim them until it meets hiring goals.
“We’re committed to investing not just in real estate in the heart of the city but in human resources,” ShipSigma cofounder and CEO Chase Flashman said in a written statement.
ShipSigma is a software-as-a-service company whose platform provides customers with shipping insights and analytics, carrier contract negotiation and other tools designed to find the lowest shipping costs for their parcels.
One of the company’s customers is Indianapolis-based Huse Culinary, the corporate parent of Indianapolis’ St. Elmo’s Steak House.
“We ship tens of thousands of bottles of our fiery St. Elmo Cocktail Sauce all over the U.S., and ShipSigma has greatly reduced our shipping costs and cut our carrier errors by over half,” Huse Vice President of Marketing and Retail Bryn Jones said in a written statement included in ShipSigma’s announcement.