updated: 5/1/2012 11:05:45 AM
The Finish Line Inc. (Nasdaq: FINL) is planning to expand its Indianapolis headquarters and potentially add nearly 330 jobs by the end of 2015. The athletic shoes, apparel and accessories retailer says it's part of a strategy to implement a consistent brand experience throughout its sales channels, including brick and mortar stores and its e-commerce site. The Finish Line is also making a multi-million dollar investment to help fund what it describes as "a total technology transformation."
May 1, 2012
INDIANAPOLIS (May 1, 2012) - The Indiana Economic Development Corporation, together with The Finish Line, Inc. (NASDAQ: FINL), a national retailer of athletic shoes, apparel and accessories, today announced the company's plans to expand its operations here, creating up to 327 new jobs by the end of 2015.
The Indianapolis-based company, which operates more than 640 stores in malls across the country as well as a fast growing e-commerce site, recently announced plans to make significant investments to support its omni-channel strategy. The strategy is designed to create a consistent brand experience across all of the retailer's channels-brick and mortar stores, web, social, mobile, tablet and direct mail. This includes a multi-million investment to help fund a total technology transformation, including upgrading backbone computer systems such as merchandise and distribution systems. To accommodate additional employees, the company also plans to remodel and reorganize office space at its existing Indianapolis headquarters, recently renamed "Customer Central."
"I am so pleased to see a homegrown Indiana business like Finish Line continue to find success in the Hoosier State," said Governor Mitch Daniels. "The company's tremendous growth reiterates that there is no better place to start or expand a business than in Indiana."
Finish Line currently has more than 11,000 employees, with 700 associates at its Indianapolis headquarters and more than 1,280 across the Hoosier State.
"It's been more than 30 years since we opened the first Finish Line store here in Indiana and through consistent growth, we have become one of the leading athletic specialty retailers in the country," said Steve Schneider, president and chief operating officer of Finish Line. "We are certainly proud of our Hoosier roots and are excited at the prospect of being able to add jobs in our hometown as we become a leader in omni-channel retailing."
Through the Finish Line Youth Foundation (FLYF), the company is actively engaged in supporting young people in the communities it serves. Throughout the past 14 years, the FLYF has provided more than $4.5 million in grants to nonprofits that support community-based youth athletic programs and camps for disadvantaged and special needs children across the country. Recently, the company announced a new multi-year pact to support Special Olympics as its signature cause, including support of the upcoming Indiana Summer Games, which begin June 1.
The Indiana Economic Development Corporation offered The Finish Line, Inc. up to $2.7 million in conditional tax credits and up to $250,000 in training grants based on the company's job creation plans. These tax credits are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives. The city of Indianapolis will consider additional property tax abatement at the request of Develop Indy.
"Finish Line is a great corporate citizen for Indianapolis, and its expansion in Marion County protects hundreds of existing jobs and strengthens the eastside as the company invests millions of dollars into facilities in Warren Township," said Indianapolis Mayor Greg Ballard. "Finish Line's commitment to our city means more than 300 new jobs for our residents and the decision to grow here reflects the stable business climate we have created."
Finish Line joins 22 other companies that have committed to locating or growing their headquarters in the Hoosier State this year, creating more than 2,600 projected new headquarters and operations jobs. Just last week, healthcare staffing provider RepuCare announced it will expand its Indianapolis headquarters, adding up to 82 new jobs by 2015.
About Finish Line
The Finish Line, Inc. is a premium retailer of athletic shoes, apparel and accessories. Based in Indianapolis, Finish Line operates more than 640 stores in malls across the United States, employing more than 11,000 associates who help customers every day connect with their sport, their life and their style. Online shopping is available at www.finishline.com and mobile shopping is available at m.finishline.com. Follow Finish Line on Twitter at Twitter.com/FinishLine and "like" Finish Line on Facebook at Facebook.com/FinishLineUSA. The company also operates, through a venture with Gart Capital Partners, the Running Specialty Group, which has 19 specialty running shops in seven states and the District of Columbia operating under The Running Company banner. More information is available at www.therunningcompany.net.
Created by Governor Mitch Daniels in 2005 to replace the former Department of Commerce, the Indiana Economic Development Corporation is governed by a 12-member board chaired by Governor Daniels. Dan Hasler serves as the chief executive officer of the IEDC.
The IEDC oversees programs enacted by the General Assembly including tax credits, workforce training grants and public infrastructure assistance. All tax credits are performance-based. Therefore, companies must first invest in Indiana through job creation or capital investment before incentives are paid. A company who does not meet its full projections only receives a percentage of the incentives proportional to its actual investment. For more information about IEDC, visit www.iedc.in.gov.
Source: Indiana Economic Development Corporation