2 technology companies announce expansions in central Indiana

FILE (AP Photo/Mike Groll, File)

INDIANAPOLIS (WISH) – Experts say there is too much oil flooding the market place. Also, two tech companies are expanding in central Indiana.

Experts say don’t be fooled by the recent spike in oil prices. The world continues to drown in excess supply. U.S. oil stockpiles skyrocketed by 9.4 million barrels last week to 53.2 million barrels, according to figures from the U.S. Energy Information Administration. That’s roughly triple what analysts had been bracing for.

Two technology companies have announced plans to expand operations in central Indiana. Virginia based Innolance and Indianapolis-based Matchboook Creative say they will create more than 50 high wage paying jobs by 2020. Innolance will expand in Fishers and Matchbook Creative plans to expand its Indianapolis headquarters.

For Jane King’s full business report watch the video above.

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