CARMEL, Ind. -- A Carmel-based company announced a major expansion Thursday morning.
Allied Solutions, a distributor of insurance, lending, and marketing products to financial institutions across the country, will relocate its corporate headquarters to the Midtown area in Carmel.
The $32.9 million project will include the construction of a new five-story building. The plan more than doubles the company's size in Carmel and adds over 600 jobs by 2025, according to a press release from Allied Solutions.
“Today we celebrate in Carmel two things; the success and expansion of one of our corporate partners and the bright future for development in the Midtown redevelopment area,” Carmel Mayor Jim Brainard said in the press release.
“Both announcements are endorsements of our economic development efforts, which include investing in our infrastructure and encouraging sustainable and walkable environments. We look forward to watching both Allied Solutions and Midtown grow in the future.”
“Indiana is our home,” Pete Hilger, President of Allied Solutions said in the release.
“I raised my family here and our company has thrived here for almost 20 years. We’ve become what we are today because of the hard work and energy of our people. There’s a great work ethic, which make for loyal employees dedicated to a common goal. The investments made in the Carmel area make it a great place to operate our business.”
Old Town Development will develop the company's new building. The top four floors will belong to Allied Solutions, while the first floor will be leased by another local company, along with several restaurants, according to the release.
The Indiana Economic Development Corporation is providing $4 million in Edge Tax Credits to the project, as long as the company meets the job creation goals.
Carmel will use Tax Increment Financing to finance the building's parking garage.