Indianapolis-based Celadon Group Inc. (NYSE: CGI) is planning to invest $28 million in a new headquarters facility in Hancock County. In a tax incentive filing with the Indiana Economic Development Corp., the logistics provider says it could add 375 jobs by 2024. Celadon says the new facility will help "accommodate continued growth," while consolidating its operations currently located on the east side of Indianapolis.
The company currently employs more than 1,100 people. The company could receive nearly $3 million in conditional incentives from the IEDC.
In November, Celadon reported a fiscal first quarter loss of $2.9 million, compared to a net income of $11.4 million during the same period in 2015. Since the earnings report release, subsidiary Celadon Logistics has announced the opening of a new office in Ohio and the parent company announced a leasing deal with Colorado-based Element Transportation LLC that involved 10,000 tractors to lease to trucking fleets.