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Posted by Heidi Schwartz
NextGear Capital, which provides inventory financing programs for more than 17,000 automotive dealers across the country, has announced plans to expand its headquarters in New Carmel, IN, creating up to 169 new jobs by 2015.
The company will invest $19.5 million to lease and renovate a second Carmel office. NextGear Capital plans to use the new space to house its dealer services, auction services and business development center.
This announcement is the company’s second expansion in recent years. In 2009, NextGear Capital made plans to invest $6.4 million to add 12,000 square-feet to its Carmel headquarters, resulting in the creation of more than 60 new jobs.
“We are extremely excited to be expanding our corporate campus in Carmel,” said Brian Geitner, president of NextGear Capital. “We have seen solid growth in our customer base over the past couple of years, and this expansion will allow us to continue to provide the solutions necessary to service our customers as they continue to grow their business.”
The Indiana Economic Development Corporation offered NextGear Capital up to $1,300,000 in conditional tax credits and up to $60,000 in training grants based on the company’s job creation plans. The city of Carmel supports the project.
“I am pleased that NextGear Capital has invested in our community and is continuing to expand in Carmel,” said Carmel Mayor Jim Brainard. “Our focus and commitment to a high quality of life is always key in attracting and retaining business. This increased economic growth continues to provide excellent employment opportunities in our community.”