By Timothy Cox
The Statehouse File
Jason Brown, President of Archway Technology Partners, Inc., stands with Gov. Mitch Daniels (center) and Indianapolis Mayor Greg Ballard to announce it would expand its operations in Indiana. Photo by Tim Cox, The Statehouse File
INDIANAPOLIS – Two Indiana businesses say they intend to create 365 new jobs between now and 2015, Gov. Mitch Daniels announced.
Stratosphere Quality, LLC, a Fishers-based company that provides inspection services to other firms, and Archway Technology Partners, Inc., a financial software provider with a location in Indianapolis, announced their plans for expansion Wednesday.
“These are two homegrown companies — companies started by young people who saw an opportunity and decided that opportunity would best happen here in this state,” Daniels said.
Stratosphere was founded in 2009 and has employed 150 people in Indiana in the past three years. As part of the business’ $2.6 million expansion, a warehouse in Fishers will be converted into corporate offices. The expansion will result in 225 new jobs, company officials said.
The Indiana Economic Development Corp. will offer Stratosphere up to $1.5 million in tax credits and $200,000 in training grants – incentives the company can earn if it follows through on its job-creation commitments.
“We’re encouraged by the diversity and the manufacturing base here in the state that has really propelled us forward, as well as the available workforce that is in place to allow us to continue to grow,” said Tom Gray, chief operating officer of Stratosphere.
Archway was founded in 2001 by chief executive officer and president Jason Brown. The company intends to spend $1.7 million to double the size of its headquarters and then add 140 jobs at that location on the north side of Indianapolis.
“Once Archway has reached its job creation commitment, they will be provided with over $2 million in tax credits as well as additional training grant dollars,” said Indianapolis Mayor Greg Ballard, who also spoke to reporters.
Brown said that along with Indiana’s universities and financial incentives, the state’s 2005 decision to adopt daylight saving time has “added a level of efficiency” to his company’s operation.
“The state adopting daylight saving time has allowed us to operate more efficiently across state borders and internationally,” Brown said.
Daniels touted that decision, too, saying that while “we always said that getting in step with the world economy was not a game changer, but it was a very important thing to do.”
The IEDC, which is state government’s job-recruitment arm, has received commitments in 2011 from 219 companies that intend to create jobs in Indiana, state officials said.