Milhaus, a mixed-use development company, will expand its operations in Indianapolis, creating up to 250 new jobs by 2020.
The company, which owns Milhaus Development, Milhaus Construction, Milhaus Management and Ineo, will invest $1.645 million over the next five years to lease and equip its new headquarters in Fletcher Place in order to accommodate its growing demand and workforce.
According to the company, the building is much more than an office. It reconfirms its commitment to investing in and focusing on transitional neighborhoods where the company can make a significant impact. Milhaus was an early investor in the Fletcher Place neighborhood with its Mozzo project and now its corporate office.
“With unemployment at a 15-year low and 12,000 jobs added within the past year alone, it is clear Indiana is an unmatched destination for businesses to grow and expand,” said Governor Mike Pence. “In addition to supporting Hoosier businesses by cutting costs and reducing regulations, Indiana continues to make significant investments in our growing workforce and in our communities. We are proud that Milhaus chose Indiana to expand its operations here by 250 new jobs, and we look forward to its success in the Hoosier state.”
While the company’s portfolio includes Indianapolis and Carmel properties such as Artistry, Circa, Maxwell, Mozzo and Penn Circle, Milhaus is experiencing significant growth in markets outside Indiana including Kentucky, Missouri, Ohio, Oklahoma, Pennsylvania, Tennessee and Wisconsin. The company anticipates having 20,000 units in 10 markets by 2020.
“We know our 20,000 unit, 10 market, $4 billion value goal is lofty,” said Tadd Miller, chief executive officer of Milhaus. “But at our current pace, it’s not impossible to think we may exceed these goals. And with some of the recent additions to the team, as well as this support from the state of Indiana, we continue to build the capacity to make this a reality.”
Milhaus, which currently has 116 full-time employees in Indiana and 28 throughout the Midwest, plans to begin hiring for management, information technology, finance, sales and marketing, transaction processing and administrative support positions with average wages above the state and county average.
“Indianapolis is growing, and I am pleased to see Milhaus join the list of companies that are investing and expanding operations here,” said Indianapolis Mayor Greg Ballard. “This local firm is playing a dual role in boosting Indy’s economic growth by developing quality projects in our neighborhoods and by creating 250 new jobs for our talented workforce.”
Established in 2009, Milhaus is a developer, contractor, owner and operator of Class A, urban infill projects in the top submarkets of the best secondary markets throughout the Midwest. The company now manages a portfolio that just surpassed 24 properties housing 4,500 residential units valued in excess of $540 million. In 2014, Milhaus was recognized as an Indiana Company to Watch by the Indiana Office of Small Business and Entrepreneurship, and this year was named to Indianapolis Business Journal’s “Fast 25” list highlighting the company’s dramatic revenue growth of more than 650 percent in the last three years.
The Indiana Economic Development Corporation offered Milhaus up to $2.2 million in conditional tax credits and up to $100,000 in training grants based on the company’s job creation plans. These incentives are performance-based, meaning until employees are hired, the company is not eligible to claim incentives. The city of Indianapolis supports the project at the request of Develop Indy, a business unit of the Indy Chamber.
Milhaus’s commitment to redeveloping abandoned properties and transforming neighborhoods reflects the vision of the Indiana Regional Cities Initiative, which creates a framework for communities to develop action plans for quality of place initiatives. Seven Indiana regions have submitted applications which together total more than $3.78 billion in investments for more than 420 cultural and livability projects across the state.