COLUMBUS, Ind. — A Bangalore, India-based provider of product engineering solutions has chosen Columbus as its North American headquarters, the Indiana Economic Development Corp. announced Wednesday afternoon.
“As a global company, AXISCADES had a world of options to expand. Choosing Indiana sends a clear message that the Hoosier state offers the pro-growth business climate and the tools companies need to thrive,” Indiana Gov. Eric J. Holcomb said. “We’re pleased to extend a warm Hoosier welcome to another India-based company. With its growth here, AXISCADES is joining a network of more than 800 foreign-owned business establishments that provide good jobs across the state, and we look forward to watching the company’s story unfold here in Indiana.”
AXISCADES announced plans to locate in Indiana last month and will invest up to $10 million over the next five years to launch operations in Columbus, where it will initially lease space at 810 Brown St. to serve as its North American headquarters and house its management functions.
“We are privileged to partner with Indiana and the City of Columbus to set up our North American headquarters. The state offers us a central location for our business and a strong pro-business environment under the leadership of Governor Holcomb,” said Sudhakar Gande, vice chairman of AXISCADES. “The advanced manufacturing and high technology environment in Indiana also provides a key element in our selection. We are excited to leverage the availability of skilled engineering talent in Indiana as well as the state’s strong education system to meet the growing skill demands of the future.”
As part of its growth in Indiana, AXISCADES anticipates creating up to 100 new jobs within the first year of establishing operations and up to 500 total, high-wage jobs by the end of 2023. In addition to its Columbus headquarters and satellite offices, the company — which is a provider of product engineering solutions to aerospace, defense, heavy engineering, automotive, energy, medical and health care companies — also plans to locate engineering associates at its clients’ facilities in order to better serve the needs of its customers.
Pending approval from the Indiana Economic Development Corporation board of directors, the IEDC offered AXISCADES up to $4.3 million in conditional tax credits and up to $500,000 in training grants based on the company’s job-creation plans. The IEDC will also consider additional incentives up to $1 million through the state’s Industrial Development Grant Fund to support infrastructure needs.
The City of Columbus, at the request of Greater Columbus Economic Development Corp., has offered up to $50,000 of performance-based incentive support from its Economic Development Income Tax fund, to be used for relocation and start-up expenses.
Read more in Thursday’s print edition of The Republic.