KAR Auction Services Plans $80M Carmel Expansion

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(Image of Governor Eric Holcomb (left), CEO Jim Hallett (middle) and Mayor Jim Brainard (right) courtesy of the Indiana Economic Development Corp.) (Image of Governor Eric Holcomb (left), CEO Jim Hallett (middle) and Mayor Jim Brainard (right) courtesy of the Indiana Economic Development Corp.)
CARMEL -

Carmel-based KAR Auction Services Inc. (NYSE: KAR) has announced a headquarters expansion that is expected to create 400 jobs by 2020. The company plans to invest $80 million into what it says will be a state-of-the-art campus to house 1,500 workers.

During an announcement Tuesday at the Center for the Performing Arts, Chief Executive Officer Jim Hallett said "we want to give our employees a workplace that reflects our entrepreneurial culture and inspires them to create and innovate the moment they walk through the door."

Plans call for the 13-acre site to include a 250,000 square-foot office building. The company currently employs more than 17,000 throughout the world, nearly 1,600 of which are based in Indiana. Hallett, who also serves as chairman of the automotive remarketing company, adds "the new campus will give us the additional space necessary to increase our workforce as we expand our global footprint. And it will help our company, the city and the state attract and retain some of North America’s best and brightest talent."

A groundbreaking is set for early next year and the company plans to move in during the second half of 2019.

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