Sallie Mae has cut the ribbon on its recent expansion in Indianapolis, which will create up to 278 new jobs by 2018.
Sallie Mae, the nation’s saving, planning and paying for college company, will invest more than $15.7 million to expand its operations here, investing in both technology and talent to enhance all aspects of customer experience, from application through repayment. The new office will accommodate information technology and customer service departments, with new positions expected to offer average salaries 25 percent higher than the state’s average wage. Last year, the company moved all customer service operations for its private education loans to the United States.
As part of this growth, Sallie Mae recently renovated and equipped a three-floor, 76,000-square-foot space at 8425 Woodfield Crossing in northeast Indianapolis, relocating operations from its former office five miles away earlier this month. The space includes 550 workstations, five conference rooms, two training rooms, a multipurpose room, and a micro-market and breakroom for its growing team.
“This commitment of information technology and customer service jobs is a natural extension of our focus on innovation and customer experience,” said Raymond J. Quinlan, chairman and chief executive officer of Sallie Mae. “This investment completes our customer service transformation from offshore and outsourced, to onshore and insourced. We are confident that the talent pool in Indianapolis will be an asset to our growing enterprise.”
The company is also passionate about giving back to the communities where its employees live and work. Sallie Mae contributed $10,000 to the Hoosier Veterans Assistance Foundation of Indiana to support local veterans. The company also supports a number of local nonprofit and service organizations, including the Dave Duerson Athletic Safety Fund and Special Olympics Indiana.
Headquartered in Newark, DE, Sallie Mae employs more than 1,200 associates across the country, including 189 full-time employees at its Indianapolis operation, which is the company’s second-largest location.
“Today’s announcement by Sallie Mae means new job opportunities for nearly three hundred area residents, further reinforcing what we already know: Indianapolis is the economic engine for all of central Indiana,” said Indianapolis Mayor Joe Hogsett. “Together we celebrate the expansion of Sallie Mae, as well as the company’s commitment to giving back to local organizations including the Hoosier Veterans Assistance Foundation.”
The Indiana Economic Development Corporation offered Sallie Mae up to $2,375,000 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 in partnership with Develop Indy, a business unit of the Indy Chamber.
“Here in the Hoosier state, we are committed to creating a pro-growth business climate, and today’s news makes it evident that Indiana is a state that works,” said Governor Mike Pence. “Sallie Mae had a world of options to consider for this expansion, but as financial experts, the choice was clear. Indiana offers low costs, declining taxes, reduced regulations and a balanced budget, allowing job creators to invest where it matters most – in their business and in their employees. Today I’m pleased to join Sallie Mae as we welcome 278 new quality jobs to the state, and I’m confident our hardworking Hoosiers will be an integral part of the company’s continued growth.”
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