INDIANAPOLIS -- Information technology company Infosys plans to start a training center in Indianapolis and add 1,000 jobs on top of the 2,000 positions it announced for the city a year ago.
Infosys President Ravi Kumar announced Thursday that the company would spend $35 million to build the training center at the now-vacant site of the former Indianapolis International Airport passenger terminal.
Vice President Mike Pence was in Indianapolis for the announcement along with Gov. Eric Holcomb and Indianapolis Mayor Joe Hogsett.
"You know, today's announcement really is a tribute. It's a tribute to a great company. It's a tribute to a great state and the leadership of a great state at every level. But I also believe it is a tribute to the agenda that President Trump has been advancing with strong support on Capitol Hill from very early in this administration," said Pence.
The company based in Bangalore, India, said last year it would establish an Indianapolis tech center with 2,000 employees by the end of 2023 as it plans opening four U.S. hubs. The Indiana hub is to focus on developing artificial intelligence and cloud computing.
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Infosys says it anticipates breaking ground before the end of 2018 and completion of the project by the end of 2020.
"Infosys' state-of-the-art training facility will teach thousands of folks across America right here on Indiana soil. And, it will help prepare more current and future Hoosiers for success in our rapidly evolving, global economy," said Gov. Eric Holcomb.
"At Infosys, we have always invested in advanced technology and skills and bring deep experience from running the largest corporate training facility in the world. Our new Indianapolis facility will prepare our American employees-and those of our clients-to master the kinds of advanced skills that are now required to succeed in our digital future," said Ravi Kumar, President, Infosys.
Pending approval from the Indiana Economic Development Corporation Board of Directors, the IEDC will offer Infosys up to $56.5 million in conditional tax credits and up to $1.5 million in training grants based on the company's plans to create 3,000 new jobs by 2023.
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These incentives are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives. The IEDC will also offer Infosys up to $6 million in conditional tax credits from the Hoosier Business Investment program based on the company's significant capital investment plans.
The city of Indianapolis will facilitate the rehabilitation and transfer of the existing 2,000-car parking garage to Infosys. Additionally, the city will contribute real estate and necessary improvements over the course of the phased project to include $8 million in infrastructure improvements and up to $9.8 million in real estate. The IEDC will provide up to $20 million over 10 years from the Industrial Development Grant Fund to support these improvements at and surrounding the campus development.
These incentives are subject to the approval of the IEDC Board of Directors, Indianapolis Airport Authority Board, Metropolitan Development Commission and Indianapolis City County Council
Watch the full Infosys announcement in the video below.
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