12/15/2005
Media Contact:
John F. Walker, The Indy Partnership, 317-464-5413 |
 |
Life sciences firm plans to triple in size
INDIANAPOLIS - Mayor Bart Peterson and Theoris Inc. today announced a major expansion prompted by an increase in demand for its life sciences consulting services.
The company expects to create 225 new jobs and retain more than 140 current positions at its Indianapolis headquarters, 8888 Keystone Crossing. In addition, Theoris will make a capital investment of $2.43 million as part of its expansion plan.
"Theoris’ decision to invest in Indianapolis reinforces our reputation as an outstanding location for companies in the life sciences industry to do business," Mayor Peterson said.
Founded in Indianapolis in 1984, Theoris provides strategic consulting and software services including FDA compliance strategies and services; patent pending Theoris Vision SoftwareÔ products; quality systems services; validation strategies and services; and numerous other consulting services for the life sciences and technology industries. The company expects to hire many of its new workers locally.
"There is a robust pool of talent in the central Indiana area related to computer technology and programming," said Mike Cunningham, CEO, president and founder of Theoris. "The talent pool is drawn in large part by Fortune 500 companies in the Indianapolis Region such as Eli Lilly and Company, Roche Diagnostics, and Cook Inc., not to mention the auto industry and other services businesses. The presence of these companies draws employees due to the amount of opportunities they generate."
The City of Indianapolis, Indianapolis Economic Development, the Indiana Private Industry Council Inc. and the State of Indiana assisted Theoris with its expansion plans.
Incentives offered to Theoris by the City of Indianapolis include a six-year property tax abatement on $1.68 million of the company’s investment which is expected to save the company nearly $96,000 over the six-year period.
IED provided needed economic development data to Theoris and guided the company through the process required to receive the city and state incentives.
"This is great news for the city and for our life sciences industry," said Jeb Conrad, executive director of IED. "These are good-paying jobs that will really boost our local economy."
IPIC has offered a $15,000 Workforce Innovation Life Science Training Grant for the training needs associated with Theoris’ expansion. Workforce Innovation grants were created to help companies with 200 or fewer employees expand their workers’ skills to meet the growing demands of today’s life sciences industry.
"IPIC’s mission is to build a dynamic workforce for central Indiana, and one way of doing so is to train workers with new skills, especially in a burgeoning sector such as the life sciences," said Joanne Joyce, IPIC president and CEO. "We’re pleased to be a part of this exciting development."
State incentives offered by the Indiana Economic Development Corp. (IEDC) include training grants and tax credits worth more than $700,000.
Theoris expects to hire all 225 new employees by 2014.
Indianapolis Economic Development is a member of The Indy Partnership, a privately-funded, not-for-profit organization dedicated to strengthening economic and job growth in the 11-county Indianapolis Region - Boone, Hamilton, Hancock, Hendricks, Johnson, Madison, Marion, Monroe, Morgan, Shelby and Tippecanoe counties. Located in Indianapolis, The Indy Partnership has a full-time professional staff ready to assist clients interested in business expansion or relocation in the Indianapolis Region. More information is available at www.indypartnership.com.
IPIC is the "go to" source for workforce development in central Indiana. It leads regional partners in building a dynamic workforce and convenes community leaders to address important issues. More information is available at www.ipic.org.
|
