GEICO’s Growth Driven by Carmel Experience

(Image courtesy of GEICO)

The city of Carmel’s economic development director says it is "very possible" Maryland-based GEICO’s latest big investment in the Hamilton County community might not be the last. The insurance company’s plans to invest $16 million to grow its campus and add 1,500 jobs over the next four years come after locating to Carmel in 2013. For the city’s part, Nancy Heck says Mayor Jim Brainard’s administration frequently checks in with the company to make sure it’s needs are met.

She also adds Carmel handles economic development matters "a little bit different" than other cities. "We try and build the best city we can, so that employers know that their administration and their employees will want to work in a location that’s easy to get to, that’s safe, that has a lot going on as far as entertainment and recreation," Heck said.

The city, she says, did not have to provide additional incentives for the company’s expansion, but the Indiana Economic Development Corp. did offer $16.5 million in combined conditional tax credits and training grants. GEICO currently employs some 1,300 in Carmel and Heck says the city offers additional space if the company elects to expand again in the future.