Infosys, an India-based outsourcing and information technology company, will invest more than $8.7 million to establish operations in the state, leasing and equipping an approximately 60,000 to 80,000 sq. ft. space in the Indianapolis metropolitan area.
The company, which is still considering multiple office options, plans to finalize a lease and begin the renovations in May, an Indiana government news release said. The tech hub, which is expected to launch operations in August 2017, will focus on cutting-edge technology, including artificial intelligence, machine learning, user experience, emerging digital technologies, cloud and big data, and will serve businesses in key industries such as financial services, manufacturing, health care, retail, energy and more.
Pending approval from the Indiana Economic Development Corporation (IEDC) board of directors, the IEDC will offer Infosys up to $15,250 in conditional tax credits per new job created, which are calculated based on expected state income tax withholdings, and up to $500,000 in training grants based on the company’s hiring plans. These incentives are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives. If the company hires and trains all 2,000 workers as planned, the maximum total incentives from the state would be $31 million.
