MUNCIE - Muncie-based Accutech Systems Corp. is expanding. The wealth management software company has announced plans to invest more than $5.5 million in a new headquarters and nearly double its Delaware County workforce by 2023. 

Accutech says it will acquire and redevelop a former Sears department store in downtown Muncie. The Indiana Economic Development Corp. says the new space will allow the company to increase and upgrade its technology and computer hardware in an effort to scale its workforce and develop new software and operations offerings for clients. 

“We were quickly outgrowing our current space and looked hard at multiple different options for our expansion. Ultimately, this is the community that I want to invest in, and this project will allow us to continue our expansion in a space three times the size we have today," said Adam Unger, president of Accutech. "This project is going to allow us to retain our amazing workforce as well as attract more highly-skilled talent to stay in, or relocate to, Muncie. We want to build on the groundwork that has been laid for Muncie’s revitalization, and I am proud to have Accutech bring more density and energy in a commitment to being a long-standing anchor for our downtown’s current and future growth."

The company expects to move into the new space by the end of the year.

Accutech currently employs 53 at its existing Muncie facility and an additional 25 remote workers. The company aims to have at least 100 local workers by 2023 and plans to hire 20 new employees this year in positions including trust operations assistants, IT specialists, software developers and software support.

The IEDC has offered Accutech up to $600,000 in conditional tax credits, which the company will not be eligible to claim until Hoosier workers are hired for the new jobs. The city of Muncie will also consider additional incentives.