Shield Global Partners will grow its headquarters in Evansville, IN where the company will expand to fulfill recently-awarded contracts with General Motors and Mercedes-Benz. As part of its growth, the company plans to create up to 135 new jobs over the next few years.
The company will invest $4.15 million to lease and equip office space on the third floor of Innovation Pointe, a high-tech business incubator in Evansville.
Shield Global Partners, which provides analytics, appraisals and claim services for leased vehicles involved in automotive accidents, streamlines the process for auto manufacturers’ captives to pursue claims for vehicle damage after accident reports are filed with the police. The company has grown to service nearly 2 million vehicles through its Vehicle Monitoring Service, adding new vehicles to its system as they are leased. As part of its growth, the company projects that it will be serving 5 million vehicles traveling on roads across the United States by 2018.
“I chose Evansville to launch Shield due to the success of bringing a previous company’s expansion to the tristate area in 2006,” said Wayne Collins, president and chief executive officer of Shield Global Partners. “From downtown Evansville’s central location to the great talent working in the area, Indiana is the perfect place for us to grow this business.”
Founded in 2012, Shield Global Partners is led by Collins, who has 23 years of experience in executive claims management and appraisal development and methodologies. The company’s board of directors includes Paul Halata, the former chief executive officer of Mercedes-Benz, as well as Don Dees, a former general manager of Toyota Motor Manufacturing of Indiana.
“With today’s news from Shield Global Partners, it’s clear that Indiana’s pro-growth, low-regulation environment is helping businesses build and expand here in the Hoosier state,” said Governor Mike Pence. “Across the state, Hoosier entrepreneurs and their teams are developing new technologies to help advance economic growth in Indiana. As we look ahead, Indiana is committed to supporting the growth of start-up and scale-up companies like Shield Global Partners by investing $1 billion over the next 10 years to help entrepreneurs find success and create more quality jobs across Indiana.”
The Indiana Economic Development Corporation offered Shield Global Partners LLC up to $800,000 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 Evansville approved additional incentives at the request of the Growth Alliance of Greater Evansville.
“I am excited that Shield Global Partners is committed to staying in our community and expanding its operations in downtown Evansville at this new, high-tech headquarters at Innovation Pointe,” said Evansville Mayor Lloyd Winnecke. “The company has grown quickly in a short period of time, and with assistance from the Growth Alliance for Greater Evansville, Shield Global Partners is poised for even greater success in the near future.”
Shield Global Partners’ news follows Governor Pence’s announcement earlier this month that Indiana plans to invest $1 billion into innovation and entrepreneurship in the state over the next 10 years. Through the initiative, Indiana will work to strengthen and accelerate innovation by supporting entrepreneurial cultures and investment in co-working spaces and business incubators like Innovation Pointe in Evansville, leveraging strategic partnerships, and increasing support and capital for start-up and scale-up companies like Shield Global Partners. With the growth of these entrepreneurial companies, Indiana has added 147,800 private sector jobs in the last three and a half years.
Relocating or Expanding Your Business In Indiana
Considering Indiana for your company’s relocation or expansion project? Check out Business Facilities’ Indiana Incentives and Workforce Development Guide.
