INDIANAPOLIS (WISH) — Angie’s List is investing $40 million to expand its Near East Side headquarters.
It also says it will add 1,000 jobs by 2019.
They’re getting $25 million in incentives from the state and city. Part of that package requires them to add jobs.
The announcement comes just months after they laid off nearly 100 employees. But they say they’re now prepared to grow.
“Sales forces grow quickly and from time to time you need to make adjustments,” said Angie Hicks co-founder of Angie’s List. “That does not change the fact that we are growing and adding jobs everyday here at Angie’s List.”
Hicks said the August layoffs were because of a lack of productivity, and not a cost-cutting measure..
Their plan is to bring 2,800 jobs to the near east side. 1,000 already work there, they’re planning on hiring another 1,000, and they plan on moving 800 from other locations to the new location.
Every area needs an anchor institution and you are it,” said Mayor Greg Ballard
The hiring will continue through 2019, and will include, sales, tech, and customer service jobs. The company plans to spend $40 million over the next three years to renovate the Ford building on E. Washington Street and build a brand new 1,000-space parking garage next to it.
“This is the kind of company that can really grow anywhere and the fact that you see Angie’s List doubling down on our capital city, doubling down on a growing tech sector here in Indianapolis is exciting news for Hoosiers,” said Gov. Mike Pence.
Tuesday’s announcement comes after the company announced in July that it lost $18 million in the most recent financial quarter. But it also announced in June that it reached 2.8 million paid subscribers.
The incentive package includes conditional tax credits, and grants that they won’t get unless the investment is made, and Hoosiers are hired.
“Everything is a risk, the amount of money that is used as an incentive is a risk, but its a risk you take cautiously and carefully,” said East side Councilor Jeff Miller
The parking garage is scheduled to be completed by 2016, with the new headquarters open in 2017.