Category Archives: Indiana Economic Development Corporation

An Indian Firm Ready to Set-Up its Headquarters in Indiana

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.