The Westfield City Council unanimously approved a $3.5 million tax abatement Monday for a $25 million headquarters near U.S. 31 and 161st Street that will be shared by a software company and the building’s developer.
Carmel-based SEP—an acronym for Software Engineering Professionals—and Indianapolis-based developer Pure Development Inc. are partnering to build a 70,200-square-foot facility in Westfield by the end of next year. Westfield’s council voted to allow Pure SEP LLC to collect 80% of the increase in assessed value on those 20 acres to pay off its construction costs.
SEP, which had 142 employees when it announced the project in June, plans to add 65 workers by the end of 2025. The Indiana Economic Development Corp. offered SEP up to $1.125 million in conditional tax credits based on those hiring plans.
Council members Joe Edwards, Scott Frei, Troy Patton, Cindy Spoljaric, Mike Johns and Jake Gilbert voted in favor of the project. Council member Scott Willis was absent.
“We’ve been through this for two or three months now, and it’s a good project. I think it’s ready for approval,” Council President Joe Edwards said.
Founded in 1988, SEP ranked ninth on IBJ’s most recent list of the largest software developers in the Indianapolis area, based on employment.
The company leases space on the James Building’s second, third and fourth floors at 4 Center Green in Carmel.
Kelly Wilson, SEP’s director of marketing and public relations, told IBJ in June that employees will continue to work in its current space until the company’s lease runs out and the new headquarters is finished next year.
A previous version of this story incorrectly stated Westfield provided SEP with the land for this project. We apologize for this error.