INDIANAPOLIS -- Dow AgroSciences is planning a $340 million expansion in Indianapolis that is expected to result in the addition of more than 570 jobs by 2015.

Gov. Mitch Daniels and Indianapolis Mayor Greg Ballard applauded the Indianapolis-based company's plan to expand its global headquarters.

The first phase of the multi-year research and development plan involves a 14,000 square-foot greenhouse to be finished this year and a 175,000 square-foot facility on Indianapolis' northwest side that is expected to be completed in 2012.

"This expansion makes Indiana a true world capital of agricultural science," Daniels said. "Dow AgroSciences' steady growth is a major reason why."

The company expects its scientific and commercial positions to pay between $65,000 and $90,000 each year.

"Central Indiana … offers outstanding infrastructure and quality of life, which are important components of attracting top talent," said Antonio Galindez, president and CEO of Dow AgroSciences. "This makes for the perfect setting for our ambitious growth plans."

More than 1,200 of the company's 5,400 workers are based in Indiana.

"This important new expansion will further enhance our growing life sciences community and provide quality jobs to our residents," Ballard said.

Dow AgroSciences was offered up to $12.5 million in performance-based tax credits and more than $200,000 in training grants based on its job plans.

More: Dow AgroSciences