INDIANAPOLIS — Gov. Eric Holcomb is back home again in Indiana following a week-long trade mission that helped the state land the North American headquarters of an Indian product engineering solutions company.
Bangalore-based AXISCADES announced last week following Holcomb's visit to its India facility that the company will invest up to $10 million to establish a corporate base in Indiana that's projected to employ up to 500 Hoosiers by 2023.
"Under the leadership of Gov. Holcomb, Indiana is leading in the areas of science, technology, engineering and manufacturing, which offers us the right environment for our business growth," said Sudhakar Gande, AXISCADES vice chairman.
The company, which works to meet the engineering needs of a variety of manufacturers, is set to decide by the end of the year where it will locate its Indiana headquarters.
Operations in Indiana are due to commence in April 2018.
Holcomb said AXISCADES' decision to select Indiana for its home in the United States signals to the world that "Indiana is open for business."
"I could not be more excited to welcome another India-based firm to Indiana," Holcomb said. "I look forward to AXISCADES joining the Hoosier family, and I am confident that our dedicated workforce will be a crucial asset to its future success."
The state's commerce agency, officially known as the Indiana Economic Development Corp., has offered AXISCADES up to $4.3 million in conditional tax credits and up to $500,000 in training grants based on the company's job creation plans.
The incentives are performance-based, meaning that until Hoosiers are hired the company is not eligible to claim any incentives.