The residents of Indiana especially engineers are set to benefit from job opportunities to be availed by AXISCADES, an Indian engineering firm. Gov. Eric Holcomb who is presently on a trade mission to India announced on November 2 that the Bangalore-based business would set up operations in Indiana. Although the company has not disclosed where precisely in Indiana it will be based, AXISCADES confirms it will make a full disclosure as the year comes to an end.
Indiana Economic Development Corporation (IEDC) will grant AXISCADES monetary support. IEDC announced that it would advance a whopping $4.3 million to the firm in conditional tax credits. Also, the corporation would advance a further $500 thousand in training grants to the Bangalore-based organization. As if that was not enough, IEDC will seek for more funds from Indiana’s Industrial Development Grant Fund to further support AXISCADES.
In a statement to the press, Holcomb affirmed that his tour of India was strictly in pursuit of education and business collaborations. He was enthused at his privilege to welcome the second Indian firm to the state.
AXISCADES is not a new-comer to international business. The firm has over 1900 employees across the world including 250 engineers located working at the organization’s location in Montreal Canada. AXISCADES’s Vice Chairman Sudhakar Gande said that the company is looking forward to establishing its headquarters in Indiana as the firm pursues its mission of investing and expanding across North America. Gande is optimistic that the business will have employed over 500 people by 2023.
Governor Eric Holcomb announced on Thursday that Axiscades engineering firm plans to open their North American headquarters in Indiana. Holcomb made the announcement from Karnataka, India where the company is based. The governor is currently touring Bangalore with Indiana Secretary of Commerce Jim Schellinger. Nicknamed the Silicon Valley of India, the city is home to many of the country’s top tech firms. Axiscades concentrates on aerospace and defense technologies. They will be bringing this tech expertise to Indiana.
According to Governor Holcomb, Axiscades will invest $10 million in the local economy and provide 500 new engineering jobs in Indiana by 2023. The company already has 14 locations around the world, and is busy surveying different areas in Indiana for a likely location. Axiscades intends to start work on their new branch in April 2018. Indiana has agreed to offer the company $4.8 million in tax credits and grants, provided they hire local workers. As part of the deal, Governor Holcomb signed a sister-state agreement with Karnataka. Priyank Kharge, the Minister of Information Technology and Tourism, signed on behalf of the Karnataka government.
Governor Holcomb and Secretary Schellinger also toured Infosys headquarters in Mysore while they were in Karnataka. The IT firm announced earlier this year that they plan to open a branch in central Indiana. Infosys also inked a deal in August with Perdue University. The school will provide training for new Infosys employees and will offer classes for existing workers. The Infosys investment is expected to yield 2,000 new jobs in Indiana by 2021.