Carmel Looks to Build on Big YearPosted: Updated:
Carmel Mayor Jim Brainard says an improving economy and quality of life upgrades have sparked a successful year of job creation for the city. Allegion PLC (NYSE: ALLE) announced Carmel's latest expansion Wednesday, detailing plans to add 100 jobs. This year's growth also includes corporate headquarters announcements from companies such as Baldwin & Lyons Inc. (Nasdaq: BWINA) and NextGear Capital, as well as plans by GEICO to add 1,200 workers by 2016. Allegion Chief Executive Officer Dave Petratis will be a guest this weekend on Inside INdiana Business Television.
December 11, 2013
CARMEL, Ind. - Governor Mike Pence joined executives from Allegion PLC (NYSE: ALLE), a provider of security products and solutions, today to announce the location of its North American headquarters here, creating up to 100 new jobs by 2014.
The Dublin, Ireland-based company, which just last week was spun off from Ingersoll Rand as a standalone, publicly-traded operation, will continue to occupy its 122,000 square-foot facility in Carmel. Allegion has an additional 380,000 square-foot manufacturing facility on the east side of Indianapolis, where the company produces Von Duprin exit devices, a brand that has called Indianapolis home for more than a century.
"Allegion joins a growing list of international firms that are finding opportunity in Indiana," said Pence. "Indiana is equipped with the best workforce in America and taxes designed to keep business expenses low, offering an advantage that other states do not. As companies continue to choose Indiana as their destination of choice for new investment and opportunities, we are witnessing a growing economy and more Hoosier jobs, making this a state that works."
Allegion, which currently employs more than 7,800 employees around the world, including more than 1,000 Hoosiers, plans to continue hiring for various corporate positions. Interested applicants may apply at www.allegion.com.
"Allegion and our customers will benefit from the power and passion of our 7,800 global employees, more than 1,000 of whom work in the Indianapolis and Carmel areas," said Dave Petratis, chief executive officer of Allegion. "Our employees put our customers at the center of everything they do, every day. For more than a century, we have been pioneers in developing safety and security products that help keep people safe and secure where they live, work and visit. We draw inspiration from our heritage as we look forward to an exciting future as an independent, public company."
Allegion produces mechanical and electronic security products for the commercial and residential markets, with projected 2013 revenues of approximately $2 billion. Serving customers in more than 120 countries under 23 brands, the company also operates regional corporate centers in Belgium and China. As the company’s base in North America, the Carmel operation is home to corporate functions such as finance, information technology, human resources, supplier management and global operations.
The Indiana Economic Development Corporation offered Allegion US Holding Company Inc. up to $2 million in conditional tax credits 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 Carmel also supports the project.
“We work hard to create the type of city that attracts professionals who want to live where they have a wide variety of cultural, recreational and entertainment options,” said Carmel Mayor Jim Brainard. “We are very pleased that Allegion’s North American headquarters will be located in Carmel. Having a global leader in security products as a corporate partner in the community provides high quality jobs and brings recognition to Carmel.”
Allegion (NYSE: ALLE) (pronounced uh-lee-juhn) helps keep people safe where they live, work and visit. Allegion is pioneering safety as a provider of security solutions for homes and businesses through 23 global brands. Allegion specializes in security around the doorway and beyond: everything from residential and commercial locks, door closers and exit devices, steel doors and frames, to access control and workforce productivity systems. Allegion, a constituent of the S&P 500®, is a $2 billion business employing more than 7,800 people and offering products in more than 120 countries across the world.
Allegion’s portfolio includes strategic brands CISA, Interflex, LCN, Schlage and Von Duprin; and other brands including aptiQ, Briton, Bricard, Dalco, Dexter by Schlage, Falcon, Fusion Hardware Group, Glynn-Johnson, ITO Kilit, Ives, Kryptonite, Legge, Martin Roberts, Normbau™, Randi, Steelcraft, XceedID.
For more, visit www.allegion.com.
Created in 2005 to replace the former Department of Commerce, the Indiana Economic Development Corporation is governed by a 12-member board chaired by Governor Mike Pence. Victor Smith serves as the Indiana Secretary of Commerce and Eric Doden is the president 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 Corp.