12/20/2005
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Jo Lynn Garing, [317] 327-3690 |
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Indianapolis draws quality jobs in move toward new economy
Mayor announces two company’s plans to grow locally
INDIANAPOLIS - Laptops are replacing lunchboxes in Indianapolis as the city makes progress in turning the so-called "brain drain" into a "brain gain."
Mayor Bart Peterson today talked about the city’s success creating jobs in 2005, which shows an increase in the number of high-paying, knowledge-based jobs versus the city’s more traditional manufacturing jobs.
Those new jobs in fields such as life sciences, information technology and other information economy sectors will be what propel Indianapolis toward a prosperous future, Peterson said, and are the result of partnerships among the city, private business and universities.
"We’ve been working with organizations like BioCrossroads, the Indianapolis Private Industry Council, Indianapolis Economic Development (IED) and our colleges and universities to create opportunities for these new economy companies to grow here in our city," Mayor Peterson said. "We’re very pleased with the results seen in these job numbers today, and we will continue our efforts in the new year."
In 2005, the City of Indianapolis and IED facilitated 37 projects that helped create 1,890 new jobs and retain nearly 5,000. A large percentage of the new jobs created in 2005 pay wages well above the city’s average. The new jobs have an average wage of $18.90 per hour, an increase over 2004.
Mayor Peterson also made two jobs announcements. Problem Solving Concepts, Inc., a life sciences company in Lawrence Township, will create 50 jobs at a minimum of $40,000 per year, retain 31 jobs and invest $4.4 million over the next few years.
"I was born and raised here, and I think that the city offers a very attractive and affordable standard of living for our employees," said Tom Feigenbaum, president and CEO of Problem Solving Concepts. "The city also offers the company a talented pool of candidates from the many universities in the state, as well the Indiana University School of Medicine with which we collaborate on many of our products. We are very pleased to continue to expand here."
MID, Inc., a multi-state IT management consulting firm, will create 50 new jobs at $60,000 per year, retain 36 jobs at $75,000 per year and invest $4.5 million, Mayor Peterson said.
"MID is an IT services and retail software product company and is excited with its re-location to downtown Indianapolis," said MID President Mike Ruhana. "We are excited at the prospect and opportunities Indianapolis affords us in recruiting and retaining our technical staff for both services and software product development.
The city is projecting that the demand for a knowledge-based workforce will continue to grow and Peterson said Indianapolis is well prepared to meet the demand for future high-tech jobs. Many existing high-tech companies, including Roche Diagnostics and Theoris, have said they’ve had no trouble recruiting qualified employees locally, he noted.
"2005 has been a very successful year for us and for the Indianapolis economy, and we anticipate that 2006 will be another good year for job growth in the city," said Jeb Conrad, executive director of IED.
Companies expanding in Indianapolis committed to over $161 million in new capital investment, generating an estimated $72 million in tax revenue over the next 10 years.
Mayor Peterson made today’s announcement at the Indianapolis Maintenance Center, where AAR Aircraft Services, Inc. leases space for aircraft heavy maintenance. The first plane rolled-in on January 10, 2005. Since starting operations, AAR has created more than 640 jobs for the Indianapolis community, well above initial employment targets. Additionally, AAR has created work for suppliers and service providers in the area.
"AAR was responding to its airline customers’ needs for high quality, cost effective maintenance services," said Fred Kocher, general manager of AAR Aircraft Services Indianapolis. "The City of Indianapolis was able to provide the perfect location and facility to help us achieve our goal. "AAR is s committed to Indianapolis and is focused on growing our presence further, re-establishing Indianapolis as an aviation center of excellence."
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.
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