Originally posted on www.iedc.in.gov, September 29, 2017
Governor Eric J. Holcomb and Carmel Mayor Jim Brainard joined executives from KAR Auction Services (NYSE: KAR), a global vehicle remarketing and technology solutions provider, today as the company announced plans to expand its operations in Hamilton County, developing a new, 13-acre corporate headquarters and campus that will provide space for an additional 400 jobs.
“I’m excited to celebrate KAR Auction Services’ continued commitment to growing its global footprint in Indiana,” Governor Eric Holcomb said. “Businesses from across the world recognize our state’s business-friendly environment, robust talent pipeline and reputation as the technology hub of the Midwest. We’ll continue taking Indiana to the next level, ensuring we’re the best place to grow jobs and business.”
The global company, which has been recognized for its IT innovations, will invest approximately $80 million to expand its Carmel-based headquarters, moving from its current office space to a 13-acre site at the northeast corner of Illinois and W. 111th streets in Carmel. The new, state-of-the-art campus will increase the company’s headquarters footprint to 250,000 square feet, allowing KAR Auction Services to continue its focus on providing technology-driven solutions to used-vehicle sellers and buyers across the globe. The new facility will feature collaborative workspaces, a three-season outdoor courtyard and design ideas from employees. KAR Auction Services will break ground at the beginning of 2018, with plans to move into the new headquarters by the end of 2019.
KAR Auction Services employs approximately 17,400 associates across the U.S., Canada, Mexico and the United Kingdom, including nearly 1,600 associates across Indiana with approximately 900 based at its headquarters in Carmel. The new campus will provide space for an additional 400 new jobs. The company is currently hiring for innovation, technology and data science positions. Most of the new positions are expected to pay more than 50 percent higher than the state’s average wage.
“We’ve outgrown our current space, so this is the perfect opportunity to adopt innovative design features that better fit the more digitally-enabled company we’ve become,” said Jim Hallett, chairman and chief executive officer of KAR.
“KAR has deep roots in central Indiana, and this partnership with the state has helped us invest in a state-of-the-art headquarters and campus that will help anchor our global expansion here in Carmel.”
With customers in more than 110 countries, KAR Auction Services provides sellers and buyers in the wholesale used vehicle industry with innovative, technology-driven remarketing solutions. The company, which operates through physical, online and mobile marketplaces, offers end-to-end platform support in whole car, salvage, finance, logistics and other related services, including the sale of more than 5 million units valued at over $40 billion through its auctions. In 2016, the company received the CIO 100 Award for driving business value through IT innovation.
Pending approval from the Indiana Economic Development Corporation (IEDC) Board of Directors, the IEDC will offer KAR Auction Services Inc and Subsidiaries up to $6,450,000 in conditional tax credits and up to $500,000 in training grants based on the company’s job creation plans. These incentives are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives. In addition, the IEDC will provide Hamilton County with up to $1,000,000 in infrastructure assistance from the state’s Industrial Development Grant Fund. The city of Carmel will consider additional incentives.
“It is very exciting to see another corporate headquarters built along our rapidly growing Meridian Street corridor,” said Carmel Mayor Jim Brainard. “The city of Carmel has worked hard to foster a strong business climate focused on our quality-of-life strategies and keeping our local property taxes among the lowest in the state. Today’s announcement by KAR is evidence that Carmel is taking the right steps to create jobs and attract major private investments. We look forward to watching KAR grow and succeed in Carmel.”
As part of Governor Holcomb’s plan to make Indiana a magnet for job creation, the Next Level Jobs initiative includes two new grant programs designed to put Hoosiers to work in high-demand, high-wage industries, including technology. The Workforce Ready Grant will skill-up adults to fill jobs in high-demand industries, while the Employer Training Grant will help offset employer costs for on-the-job training.