Another 'Big Deal': Indian Company Bringing HQ to Indiana

Posted: Updated:
The company plans to launch operations by April. The company plans to launch operations by April.
BANGALORE, India -

Another Indian company is bringing hundreds of jobs to Indiana. Engineering company AXISCADES has announced plans to locate its North American headquarters in the state and create up to 500 jobs by the end of 2023. Governor Eric Holcomb, who is leading a delegation in India on an economic development trip, says the company's work in the engineering, automotive, aerospace and medical device spaces makes it a "match made in heaven" with Indiana. AXISCADES is considering a short list of possible sites in Indiana to make its $10 million investment.

The company is planning to make a final decision on an Indiana location by the end of the year and launch operations by April. AXISCADES offers services in areas including mechanical engineering, embedded software and hardware, manufacturing and system integration. Its clients include Caterpillar, GE, Bombardier, Siemens and Airbus.

AXISCADES has more than 1,900 associates at centers in North America, Europe and Asia. Its current North American locations are in Peoria, Illinois and Montreal. The company plans to begin hiring for engineering jobs in Indiana next spring. The Indiana Economic Development Corp. has offered AXISCADES up to $4.8 million in conditional tax credits and training grants based on the company's job creation plans.

The company is headquartered in Bangalore, which is the capital of the Indian state of Karnataka. The announcement comes the same week Indiana announced a new sister-state relationship with Karnataka. The state is also home to companies including Infosys, which is bringing a tech and innovation hub along with 2,000 planned new jobs to central Indiana, and Wipro, which acquired Indianapolis-based Appirio last year in a $500 million deal.

Holcomb says in-person negotiations were important to sealing the deal.
  • Perspectives

    • Expand Your Workforce to Include The Deaf Community

      While there are arguably many minority groups that are grossly underutilized in the workforce, I’d wager that most people do not consider the Deaf community when thinking about diversity and inclusion strategies. The Deaf community shares a unique culture that is closely networked, but few employers know how to tap into this community, which comprises 10 percent of the population. In fact, many people probably see barriers for the Deaf community when it comes to employment...

    More

Subscribe

Name:
Company Name:
Email:
Confirm Email:
HTML
INside Edge
Morning Briefing
BigWigs & New Gigs
Life Sciences Indiana
Indiana Connections
INPower
Subscribe
Unsubscribe

Events



  • Most Popular Stories

    • Indiana Lands $21M in Opioid Treatment Funding

      The U.S. Department of Health and Human Services has awarded more than $18 million to the Indiana Family and Social Services Administration. The two-year grant will be used for opioid treatment services throughout the state.

    • The Union Club Hotel was built in 1929. (photo courtesy of Purdue University)

      $30M Gift to Fund Purdue Hotel Renovation

      Purdue University says it plans to use a $30 million gift to transform an existing building into a world-class hotel. The gift from Bruce White, a Purdue alumnus and former trustee, his wife Beth, and the Dean and Barbara White Foundation, will fund the renovation of the Union Club Hotel, which will also serve as a laboratory learning environment for students. The university says the renovations will feature upgrades in furnishings, fixtures, and amenities for the hotel, as well as a...
    • MainSource to Acquire Kentucky Bank

      Greensburg-based MainSource Financial Group Inc. (Nasdaq: MSFG) has announced plans to acquire Louisville-based FCB Bancorp Inc., the parent of The First Capital Bank of Kentucky. The nearly $57 million cash and stock deal is expected to be complete by the second quarter of 2017.

    • MainSource Completes FCB Acquisition

      Greensburg-based MainSource Financial Group Inc. (Nasdaq: MSFG) has completed its nearly $60 million acquisition of Louisville-based FCB Bancorp Inc. The bank says it plans to fully integrate all First Capital Bank of Kentucky branches into MainSource Bank locations later in the second quarter.

    • Cottongim Joins Taft’s Municipal And Legislative Team

      Taft Stettinius & Hollister LLP has added Ann Cottongim as director of municipal and legislative relations. In this role, she will direct the firm's objectives involving local and state government affairs by maintaining and nurturing relationships with municipal, county and state officials. She previously served as deputy director and CFO of Aim (Accelerate Indiana Municipalities, formerly known as Indiana Association of Cities and Towns (IACT)).