Midcontinent Independent System Operator (MISO) Inc., an independent regional electric transmission organization, is expanding its headquarters in Carmel, IN, creating up to 84 new high-wage jobs by 2020.
MISO will invest $30 million in its Carmel campus, including costs for construction, new technology and leasing to reconfigure its 133,409-square-foot facility to increase the efficiency of its operations. Construction was scheduled to begin in January, allowing MISO to support the expansion of its utility customers and work to ensure the reliable delivery of electricity across 15 states and the Canadian province of Manitoba. With its Indiana headquarters and facilities in Arkansas, Minnesota and Louisiana, the company helps its customers more efficiently distribute electricity, matching demand with generating capacity, resulting in billions of dollars in economic benefit each year.
“Indiana has been our home since we first started, and we are proud to continue that investment,” said John R. Bear, president and chief executive officer of MISO. “Fulfilling our mission of ensuring reliable operation of the electric grid requires the best and the brightest. This commitment to our Carmel facility will ensure that we have the people and technology to continue that mission in a way that provides value to our region.”
MISO currently employs more than 940 associates nationally, including more than 700 workers at its Carmel headquarters. The company is hiring for information technology and engineering positions, with average wages expected to pay nearly double the Hamilton County average wage.
“Over the last three years, Indiana’s private sector has added 140,500 jobs with the help of companies like MISO,” said Governor Mike Pence. “Indiana’s unemployment rate stands at its lowest rate in more than a decade because job creators like MISO are looking at their options and choosing to locate their growth in the Hoosier business climate, which is one of the best in the nation. Today MISO joins a long list of homegrown companies that are expanding their headquarters in Indiana and creating more high-wage jobs for Hoosiers.”
The Indiana Economic Development Corporation offered MISO Inc. up to $1,600,000 in conditional tax credits and up to $100,000 in training grants based on the company’s estimated job creation plans. These incentives are performance-based, meaning until employees are hired, the company is not eligible to claim incentives. The city of Carmel will consider additional incentives.