Job Creation

Eli Lilly NYC Expansion Brings Economic Development and R&D Opportunities

Eli Lilly and Company has announced plans for an expansion of its research and development presence at the Alexandria Center for Life Science in NYC.

Eli Lilly and Company

Eli Lilly and Company (photo -lilly.com)

The NYC economic development benefits from the project include the creation of 50 new jobs by Eli Lilly. Also, the expansion will allow Lilly to strengthen its relationships with local academic institutions and prominent medical schools.

The company will add 30,000 square feet of space to house a translational immuno-oncology hub and a Lilly “portal” to provide local academic scientists with opportunities for collaborative access to cutting-edge drug discovery capabilities, including chemistry and lead optimization expertise.

This is Lilly’s third strategic research and development expansion this year that combines external collaborations with internal investments to strengthen research infrastructure and capabilities.

Earlier this year in May, Lilly announced it would build a delivery and device innovation center in Cambridge, MA. The company subsequently announced an expansion of its biotechnology center in San Diego, CA.

Lilly first established its presence in the New York metropolitan area with the acquisition of ImClone in 2008. The Alexandria Center for Life Science R&D site in NYC, located near the East River, opened in 2010. It was developed by Alexandria Real Estate Equities, Inc. as a collaborative urban campus for life science companies in the region. Lilly also has a manufacturing and clinical development center in Bridgewater, NJ.

Indianapolis, IN-based Eli Lilly and Company (NYSE: LLY) was founded in 1876 by Colonel Eli Lilly. The company now has approximately 41,122 employees worldwide, including 10,526 in Indianapolis and 5,822 more U.S. employees. The Lilly workforce includes more than 8,000 people engaged in research and development.

Lilly has manufacturing plants in 13 countries and research and development facilities located in six countries, with clinical research being conducted in more than 55 countries. Last year, Eli Lilly spent $4.734 billion on R&D expenditures. It costs the company an average of $800 million to $1.2 billion to discover and develop a new drug, with the average length of time from discovery to patient being 10-15 years.

Jan Lundberg, Ph.D., executive vice president of science and technology and president of Lilly Research Laboratories, said in a release that they are prepared to push the boundaries to accelerate drug discovery. “Our expanded capabilities at the New York site will further Lilly’s expertise in our core therapeutic areas and help pave the way for broader collaboration with leading academic, health care and industry colleagues,” added Lundberg.

1366 Technologies Wafer Plant Will be Genesee County’s Biggest Economic Development Project

1366 Technologies, a manufacturer of technologies for the solar energy industry, announced that it will establish its first large commercial Direct Wafer production plant at the STAMP Business Park in Alabama, NY.

1366 will be the anchor tenant of the high-tech Science and Technology Advanced Manufacturing Park (STAMP) located between Buffalo and Rochester.

The company will invest $700 million to establish a 130,000-square-foot facility, and expects to create at least 600 new jobs over the next five years, and more than 1,000 new jobs eventually for the Finger Lakes Region and Upstate New York.

Video – NYGovCuomo

1366’s Direct Wafer technology offers significant advantages over traditional wafer manufacturing processes. It reduces the cost of the wafer by 50 percent, and provides reductions in capital expenditures and operating costs.

Their manufacturing facility at STAMP will scale up to a 3 GW wafer facility, housing 400 Direct Wafer furnaces, and will produce more than 600 million high-performance silicon wafers annually – enough to power 360,000 American homes.

Governor Andrew M. Cuomo said in a release that “Today’s announcement is an example of how we are combining this region’s natural strengths with our vision to develop New York’s entrepreneurial future and make the Empire State a true leader in developing the clean energy technologies of tomorrow.”

The $700 million project, starting with an initial investment of $100 million, is the biggest economic development project in Genesee County’s history.

The company already has a wafer facility in Bedford, MA. The site selection process that resulted in the company selecting Genesee County and STAMP was kicked off in 2011 when 1366 was awarded a $150 million federal loan guarantee from the U.S. Department of Energy to build a commercial-scale manufacturing facility.

1366 Technologies CEO Frank van Mierlo said in the release that “The facility in Bedford, Massachusetts was our proving ground. New York brings us to commercial scale. The technology is ready and 1366 is squarely positioned to lead in an industry undergoing rapid global growth.”

In order to secure this transformative project, lead New York economic development agency Empire State Development worked with the Genesee County IDA and other state agencies including New York State Energy Research and Development Authority (NYSERDA), New York Power Authority (NYPA) and the New York State Homes and Community Renewal (HCR).

The incentives package that 1366 will receive adds up to $56.3 million, and up to 8.5 megawatts of low-cost hydropower. Supported by the ESD grant, the Genesee County Economic Development Center (GCEDC) will consider local incentives of up to $41.7 million, including $12 million for the first phase of construction.

Empire State Development President, CEO and Commissioner Howard Zemsky said in the release that “We are proud to support 1366 Technologies’ newest venture and look forward to the continued growth of solar technologies in the Finger Lakes.”

Gil C. Quiniones, President and CEO, NYPA, added that “We’re especially excited to be working with 1366 Technologies, a company that, like NYPA, is heavily invested in clean energy.”

HCR Commissioner and CEO James S. Rubin likewise said that “HCR is proud to not only create and preserve affordable housing throughout the state, but to play a role in revitalizing the state’s economy.”

John B. Rhodes, President and CEO, NYSERDA, noted that “This project will build out the state’s growing clean energy economy, improve solar manufacturing, lower the cost of solar panels, and boost the solar market.”

Paul Battaglia, chairman of the GCEDC Board of Directors, pointed out that “STAMP is the result of years of collaboration between all levels of government especially between New York State, Genesee County, the Town of Alabama, and our many partners in the private sector.”

The 1,250-acre Science and Technology Advanced Manufacturing Park (STAMP) site is New York State’s second shovel-ready mega site, and is located within NYPA’s low cost hydropower zone serviced by redundant, highly reliable power.

The site, which has been named as a regional priority project by the Finger Lakes Regional Economic Development Council, was designed to attract large companies including semiconductor, display and imaging, photovoltaics, photonics, and bio-manufacturing firms.

Oakridge Battery Manufacturing Expansion Brings 1000 Jobs to Palm Bay, Florida

Oakridge Global Energy Solutions, a global developer and manufacturer of solid-state battery systems and lithium technology, has announced an expansion of its operations in Palm Bay, FL.

Oakridge

Oakridge (photo – oakg.net)

Supported by Enterprise Florida, the Economic Development Commission of Florida’s Space Coast and the City of Palm Bay, the company plans to invest $270 million to expand its operations into a larger 230,000-square-foot facility.

The company, which currently employs 36 people in Florida, will ramp up its workforce to create 1,000 new jobs for Palm Bay and Brevard County. These will be jobs with an average annual wage of $50,075.

Apart from this expansion, OGES also recently completed the relocation of their corporate headquarters into a new 68,718-square-foot facility in Palm Bay.

Governor Rick Scott said in a release that “Oakridge Global Energy Solutions could have moved their headquarters anywhere in the world and I am proud to announce that they chose to remain in Florida and create 1,000 new jobs.”

Oakridge Executive Chairman and CEO Steve Barber added that “We appreciate the support of Governor Scott, Enterprise Florida, the EDC of Florida’s Space Coast and our local partners at the City of Palm Bay as we begin this great expansion.”

In order to secure “Project Charge 2,” the Space Coast EDC leveraged the City of Palm Bay Ad Valorem Tax Abatement program. The company has other existing U.S. facilities in Nevada and Utah, and was considering those locations for the expansion in the absence of a tax abatement.

EDC President and CEO Lynda Weatherman said in a release that “It is gratifying to see this project move forward in Brevard, not only because of its scale, but also, because it brings even more diversity to our manufacturing base.”

Apart from the 1,000 direct jobs and $270 million investment, the Oakridge expansion will support the creation of another 649 indirect and induced jobs, adding up to total net new wages of more than $75.1 million.

The company’s future growth plans could likewise prove to be highly beneficial for Palm Bay and Brevard County economic development. Oakridge expects to be producing 1,200,000 batteries per year by 2018. Current projections call for an additional 300,000 to 400,000 square feet of manufacturing capacity and employment reaching 1,800 to 2,500 full-time workers by 2020.

City of Palm Bay Economic Development Officer Andy Anderson said in the release that “The workforce potential in our community is significant and a company like Oakridge Global Energy Solutions will add to what we already know Palm Bay to be, a value added place to work live and play.”

Sugar Land, TX Considers Economic Development Incentives For Schlumberger Headquarters Relocation

Schlumberger, the world’s largest oilfield services company, is considering relocating its headquarters to the City of Sugar Land, TX.

Schlumberger Complex, Sugar Land, TX

Schlumberger Complex, Sugar Land, TX (photo – WhisperToMe/wikimedia)

Supported by Sugar Land economic development incentives and tax abatements, the project will bring $200 million in capital investment in real improvements and personal property to the city, along with the creation of more than 500 new jobs for Sugar Land and Fort Bend County.

At its next meeting, the Sugar Land City Council is scheduled to consider an economic development agreement with a package of incentives to support and facilitate Schlumberger’s headquarters relocation from Houston to Sugar Land. The company previously relocated its corporate headquarters from New York to Houston in 2005 in order to bring their corporate office in close proximity to their vast operations in the Greater Houston region.

Schlumberger will now move its headquarters operations to Sugar Land, where the company plans on making improvements to a 32.479-acre section of its existing complex. The company is already one of the key drivers of Sugar Land economic development as the City’s second-largest employer with the largest existing assessed valuation for property tax purposes, and consistently among the top sales tax remitters.

The headquarters relocation project includes the addition of over 250,000 square feet of Class A office space in Sugar Land, and a new 100,000-plus square feet amenities building. The project also includes demolition of obsolete buildings on the site in question, along with repair of site utilities, and reconstruction of the landscape features to improve the site experience for employees and visitors.

The incentive package the City Council will take up for consideration includes a direct incentive from the Sugar Land Development Corporation (SLDC), along with a 100 percent tax abatement for 10 years on the associated new real improvements and personal property and the completion of the widening of Industrial Boulevard by the City and Fort Bend County. The tax savings the company will realize is expected to be in the amount of $5,307,960 over the 10-year abatement period.

Schlumberger (NYSE:SLB), founded in 1926 in France, is the world’s leading supplier of technology, integrated project management and information solutions to oil and gas industry customers worldwide. With principal offices in Paris, Houston (being relocated to Sugar Land), London and The Hague, the Fortune Global 500 company employs approximately 108,000 people working in more than 85 countries, and generated $48.58 billion in revenue last year.

Indianapolis Secures $600M Rolls-Royce Modernization

Rolls-Royce Corporation has announced a nearly $600 million investment for a comprehensive modernization of its jet engine production factory in Indianapolis, IN.

Rolls-Royce Indianapolis

Rolls-Royce Indianapolis (photo – the.urbanophile/flickr)

Details about the company’s modernization plans were announced at an event held today at the UAW Training Center Auditorium where Governor Mike Pence, Indianapolis Mayor Greg Ballard and other state and local officials joined Rolls-Royce executives.

In a release announcing the project, Gov. Pence said that “This global company had a world of options to consider when evaluating plans for future growth, but Rolls-Royce narrowed in on the state of Indiana for this investment because we offer the business-friendly climate, workforce and strategic university partnerships needed to remain competitive and to succeed in the aerospace and defense industry.”

Marion Blakey, president and chief executive officer of Rolls-Royce North America, added that “This investment ensures that we can increase our competitiveness in the market, which will benefit both our customers and Rolls-Royce.”

The Tibbs Avenue jet-engine production plant is Rolls-Royce’s largest U.S. facility, and employs 1,500 people. All told, Rolls-Royce has approximately 4,300 employees working in Indianapolis in manufacturing, assembly, test, engineering and a variety of staff support roles.

Even so, there has been a question mark on the future of the aging jet engine plant ever since Rolls-Royce North America selected Reston, VA for its regional headquarters, and established an advanced manufacturing and research campus in Crosspointe, VA.

This large investment in the Tibbs Avenue plant’s modernization, coupled with the recent announcement of Rolls-Royce taking up space at the Purdue Research Park Aerospace District in West Lafayette, IN, renews the company’s commitment towards its operations in the Greater Indianapolis region.

Indiana worked hard to secure the Rolls-Royce project. Plans for a proposed modernization of the Tibbs Avenue jet engine manufacturing plant were first made public earlier this year in April. After that, the Indiana General Assembly moved quickly to approve legislative changes to the Hoosier Business Investment tax credit program in order to provide tax incentives for the project.

Senate Enrolled Act 441 pushed back the sunset date for the Hoosier Business Investment tax credit to Jan 01, 2021. As per the modified law, the Indiana Economic Development Corporation may under a written agreement accelerate payment of unused excess tax credit that certain taxpayers would otherwise be eligible to carry forward to a subsequent tax year, with the caveat that the accelerated tax credits IEDC approves cannot exceed $17 million in a state fiscal year.

This change was tailored specifically to provide Rolls-Royce up to $17 million in tax incentives for its modernization plan, even though the company is not creating any new jobs with this particular project.

IEDC has now offered Rolls-Royce up to $17,000,000 in conditional tax credits and up to $1,425,000 in training grants based on the company’s committed investment. The city of Indianapolis will consider additional incentives at the request of Develop Indy, a business unit of the Indy Chamber.

Indianapolis Mayor Greg Ballard said in the release that ” “This is an internationally-renowned company that could have chosen to invest anywhere on the map, and I am very proud that they selected Indianapolis.”

London, U.K.-based Rolls-Royce Holdings plc, through its two main business divisions, Aerospace and Land & Sea, has customers in more than 120 countries and employs over 54,000 people in more than 50 countries. Last year, the company’s underlying revenue was £14.6 billion, and they had a firm announced order book totaling £76.5 billion as of the end of June this year.

Catawba County Economic Development Incentives For Axjo Project in Conover, NC

At its next meeting, the Catawba County Board of Commissioners will consider approval of an economic development agreement between the County and Axjo America, Inc.

Axjo

Axjo (photo – axjo.com)

Axjo America, a subsidiary of Swedish company Axjo AB, plans to invest $11.1 million to up-fit and equip an existing manufacturing facility in Conover, NC.

As part of the expansion, the company will create 14 new jobs and retain 15 existing jobs over five years. The new jobs being created will meet or exceed 100 percent of the county average annual wage of $36,770, or $17.68 per hour.

Axjo America first established its presence in Hickory, NC in 2011, but has since outgrown its facility. Before selecting the property at 221 S. McLin Creek Road in Conover for this latest expansion, the company conducted an exhausting search for suitable buildings in Hickory and other locations, including other counties in North Carolina and South Carolina.

Axjo uses primarily recycled, environmentally friendly materials and the latest injection molding technology to produce fiber-optic reels for spooling equipment. The company has been focused on production of plastic spool products for the cable industry in smaller sizes, but plans on expanding into larger spool sizes over the next five years, and will be adding new injection molding machines at its operations in the county.

In order to secure this expansion project and support the company’s investment and job creation plans, the Catawba County Board of Commissioners will consider approving tax incentives equal to 50 percent of new tax receipts generated by Axjo America annually for six years, adding up to a maximum of $132,539 during this period.

These incentives will be based on a Catawba County economic development agreement which requires Axjo America to meet minimum thresholds of $11.1 million in investment, retention of 15 existing jobs and creation of 14 new jobs by 2020. All the jobs will meet or exceed 100 percent of the county average wage at $36,700.

The agreement also includes clawback provisions that require repayment of incentives should the investment and job creation amounts not be met or sustained. The company will also agree to not hire anyone 25 years of age or below without a minimum of a high school diploma.

Axjo AB was founded in 1945, and is now a leader in environment-friendly drums, spools and reels in smart plastics. The company has operations in 30 countries, with manufacturing facilities located in Sweden, China, Portugal and the United States, and 13 storage facilities at locations in Europe and the U.S.

Homegrown Software Company Gives Back by Selecting Indianapolis For Expansion With 105 Jobs

IT services and solutions provider TCC Software Solutions announced plans for an expansion of its operations in Indianapolis, IN.

TCC Software Solutions

TCC Software Solutions (photo – e-tcc.com)

Supported by tax credits approved by the Indiana Economic Development Corporation, the company will be creating up to 105 new high-wage jobs in Indianapolis by 2019.

The $1.9 million investment at its new facility on E. 52nd Street will allow the company to attract top talent and also provide the space it needs for training facilities and group education classes. The 3.6-acre site in question was acquired by TTCC as a vacant warehouse that formerly housed the manufacturing facility of Bee Window, Inc.

TCC Software Solutions was founded in Indianapolis in 1996, and the homegrown firm currently has 139 full-time employees in Indiana, and more than 200 overall. TCC also has an office in Maryland.

The certified Minority Owned Business (MBE), which has been growing at a rate of 91 percent over the past three years, has been recognized by Inc. magazine as one of America’s fastest growing private companies for the last two years running.

The 105 new jobs that TCC is creating are high-wage positions expected to offer salaries nearly double the state’s average wage.

Jim Pangallo, principal and owner of TCC Software Solutions, said in a release announcing the expansion that “While TCC could relocate and provide services in many different states, we prefer to work with the employer-friendly leaders within the state of Indiana and give back to our home through creating quality, high-paying positions for talented Hoosiers.”

Governor Mike Pence said in the release that “We appreciate the dedication of the TCC team and the tech community overall as they continue to create quality jobs for Hoosiers.”

Indianapolis Mayor Greg Ballard likewise noted that homegrown Indianapolis technology firms are thriving as the city’s tech sector expands, and added that it’s encouraging to see TCC Software Solutions grow and continue to invest in the Midtown area.

In order to secure the expansion, IEDC offered the company up to $1.5 million in performance-based tax credits and up to $50,000 in training grants tied to the company’s job creation plans.

Last year, TCC announced plans for a $1.8 million investment for renovations after acquiring the property. At that time, the company was approved to receive Indianapolis economic development incentives in the form of a six-year tax abatement. Develop Indy, the business unit of the Indy Chamber, has recommended the company’s expansion for local support from the city.

Volusia, FL Economic Development Incentives Secure TQL Expansion for Daytona Beach

Total Quality Logistics, one of the largest freight brokerage firms in North America, is expanding its footprint yet again by establishing a logistics facility in Daytona Beach, FL.

TQL

TQL (photo – tql.com)

Supported by State of Florida and Volusia County economic development incentives, the company plans to make a capital investment of $565,000 and create 100 new jobs.

The Cincinnati, OH-based Total Quality Logistics already employs more than 3,500 workers at 36 locations in 19 states. This includes 450 people in Florida spread across operations in Tampa, Jacksonville, Orlando and Fort Lauderdale.

Governor Rick Scott, who made the announcement in Daytona Beach, said in a release that “TQL already employs approximately 450 Floridians and the creation of 100 additional jobs in Daytona Beach is exciting news.”

TQL President Kerry Byrne added that “The state of Florida is proving to be a good market for recruiting quality professionals interested in sales and support positions. Its strong and varied communities and educational offerings help to make it an extremely attractive place to work and play.”

The Daytona Beach project is virtually identical to an announcement made a month ago of a similar logistics facility in Columbia, SC with a $565,000 investment and 100 new jobs. TQL’s investments in Daytona Beach and Columbia are part of an ongoing growth plan under which the company is considering multiple states and sites in each state for establishing satellite offices.

In order to secure the project, the State of Florida and Volusia County offered Total Quality Logistics, LLC performance-based job creation incentives totaling up to $300,000 ($3,000 per job created) under the Qualified Target Industry (QTI) Tax Refund program.

The 100 new jobs that TQL is creating will have an average annual salary of $38,606, which is 115 percent of the average annual wage of $33,570 in the county. Volusia economic development incentives will account for $60,000 as a 20 percent local match, with the State providing the rest.

CareerSource Florida has additionally offered TQL performance-based employee training grants under the Quick Response Training program. Volusia County and Team Volusia EDC worked with CareerSource Florida, Enterprise Florida, and the Florida Department of Economic Opportunity (DEO) on this project.

Total Quality Logistics was founded in Cincinnati in 1997, and is now one of the largest freight brokerage firms in North America, working with more than 50,000 carriers and providing round-the-clock live, in-house support. TQL uses proprietary technology to enable tracking, communication, and processing to both carriers and shippers. The company helped move 1,001,485 loads last year, in the process generating $2.14 billion in revenue.

Anheuser-Busch Baldwinsville Brewery Expansion Gets $2M NY Economic Development Tax Credits

Anheuser-Busch InBev announced plans for an expansion of its Baldwinsville brewery in the Radisson Business Park in Baldwinsville, NY.

Anheuser-Busch Baldwinsville Brewery

Anheuser-Busch Baldwinsville Brewery (press photo – anheuser-busch.com)

Supported by Excelsior tax credits offered by lead New York economic development agency Empire State Development, the company will invest $62 million to allow craft beer production and upgrade machinery and equipment.

The investment will support the retention of 443 jobs at the Baldwinsville brewery, where the company has around 600 full-time employees.

The 1.5 million-square-foot Anheuser-Busch Baldwinsville brewery is located on a 370.4-acre site, and produces Budweiser, Bud Light and more than 65 other brands. The brewery can ship 180 trucks per day.

Governor Andrew M. Cuomo, who visited the Baldwinsville brewery as part of a trip to Syracuse to bring the third phase of his “Capital for a Day” initiative to the Central New York region, said in a release that “This investment will keep hundreds of jobs and help Anheuser-Busch stay and grow right here in New York.”

Pete Kraemer, vice president, Supply and head brewmaster, Anheuser-Busch, added that “It’s critical to invest in new capabilities that enhance our operations at the Baldwinsville brewery, because that ultimately allows us to sustain the hundreds of jobs we provide locally.”

To encourage the investment and ensure that Anheuser-Busch stays in upstate New York, ESD has offered the company $2 million in performance-based Excelsior Jobs Program Tax Credits. The future of the Baldwinsville brewery had been in doubt since Anheuser-Busch was acquired by InBev in 2008 through a $52 billion deal.

This latest $62 million investment in Baldwinsville, and the company’s commitment to retain hundreds of jobs, ensures that the Baldwinsville brewery will be a part of AB’s future growth plans.

Empire State Development Commissioner, President, and CEO Howard Zemsky said in the release that “Anheuser-Busch will retain hundreds of jobs across the state. Thanks to Governor Cuomo’s leadership, top global companies know there’s no better choice than New York State to grow and expand their operations.”

The Baldwinsville brewery, which opened in 1983, is one of the 12 flagship breweries that Anheuser-Busch operates across the U.S. Since 2011, tens of millions have been invested in the Baldwinsville brewery to add new capabilities, increase efficiencies and sustain existing operations, including a $4.5 million investment announced earlier this year in June.

The company has reduced total water use at its breweries by 37 percent in the last four years. Anheuser-Busch also has extensive packaging operations as a major manufacturer of aluminum cans, and has been a leading aluminum recycler for more than 30 years.

Founded in 1852, Anheuser-Busch is a wholly-owned subsidiary of Anheuser-Busch InBev. The St. Louis, MO-based company holds greater than 46 percent market share of U.S. beer sales to retailers.

Vroom Selects Boone County, IN For Fulfillment Center With 220 Jobs

Vroom, the largest online car store in the U.S., announced the selection of Whitestown, IN as the location for a new reconditioning and fulfillment center.

Vroom

Vroom (photo -vroom.com)

Supported by the Indiana Economic Development Corporation, Boone County Economic Development Corporation, and the Town of Whitestown, the company is investing $13.5 million to construct and equip a 501,120-square-foot facility in Whitestown.

This facility will be large enough to house up to 2,500 cars that will be refurbished on site. Vroom expects to create 220 jobs for Whitestown and Boone County by 2020. The company already employs 140 people, located at its NYC headquarters operations and an existing Dallas fulfillment facility.

In a release announcing the project, Governor Mike Pence said that “Whether it’s our state’s auto assembly facilities, their hundreds of Hoosier suppliers or innovative companies like Vroom, cars and trucks across the United States keep finding their way through Indiana. That’s just another reason why Indiana really is the crossroads of America.”

Allon Bloch, chief executive officer of Vroom, said in the release that “We’re looking forward to expanding our reconditioning and fulfillment operations, and we think the Indianapolis area is the perfect place for us to have a presence, right at the crossroads of America.”

Founded in 2013, Vroom is already the largest online car store in the U.S., and on track to reach $300 million in sales in 2015. Vroom’s online car shopping experience includes a seven-day money back guarantee, no questions asked return policy, and a 90-day bumper-to-bumper warranty, coupled with free shipping nationwide.

In order to expand its one-day delivery area, Vroom needs to fulfill online orders from centrally located fulfillment centers that can reach large parts of the surrounding population within a day. The new Whitestown facility will be operational by the end of the year, and will be able to provide 24-hour delivery of cars to 50 million people within a 300-mile radius.

In order to secure this project, IEDC has offered Vroom Indianapolis, LLC up to $3,310,000 in conditional tax credits, along with training grants of up to $100,000 tied to the company’s job creation plans. The Boone County EDC has furthermore recommended approval of local incentives to the town of Whitestown.

Whitestown Town Council President Eric Miller said in the release that “Vroom will be a great addition to Whitestown’s growing e-commerce cluster that we are developing, which already includes Amazon.”

This expansion by Vroom is fueled by the $54 million the company raised earlier this year in a Series B funding round, bringing its total equity funding to date to $73 million.

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116  Scroll to top