4/19/2007
Media Contact:
Todd McCall, The Indy Partnership, 317.464.5416
Justin Ohlemiller, City of Indianapolis, 317.327.3690 |
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INTERNATIONAL LOGISTICS COMPANY TO ADD 33 NEW JOBS AND INVEST $25 MILLION IN INDIANAPOLIS
Indianapolis, IN — Vitran Express announced today it will expand its headquarters in Indianapolis, making a $25 million investment and creating 33 new jobs. The international transportation and logistics company, located at 6500 East 30th Street, provides “less-than-truck-load” freight services to customers across the country and in Canada.
“Our central location, the new airport project, quick interstate access and pro-growth environment continue to make Indianapolis a top choice for logistics companies like Vitran,” Mayor Bart Peterson said. “We’re pleased Vitran will make this very significant investment, expanding their operations here and enhancing Indianapolis’ strong reputation in logistics.”
The expansion will grow Vitran’s human resources, finance and administrative operations, adding to its current 130 person workforce. Vitran is a publicly traded company under the symbols NASDAQ:VTNC and TSX:VTN.
“Central Indiana continues to see a surge in economic development activity. Vitran has been a great asset to our logistics industry in central Indiana and we are pleased that they have decided to invest in their future right here in the Indianapolis region,” said interim President and CEO Gordon Hendry.
To support the expansion, The Indiana Economic Development Corporation offered the company $100,000 in tax credits and up to $78,000 in training grants, and the City of Indianapolis offered the company property tax abatement worth more than $300,000.
“We would like to thank the City of Indianapolis and the State of Indiana for their continued vision of encouraging economic growth right here in our home city and home state,” said Greg Patchett, C.P.A., Vitran Express’ Vice President of Finance and Chief Financial Officer.
“Indiana’s logistics infrastructure and workforce are among the top in the nation,” said Nathan Feltman, Secretary of Commerce and chief executive officer of the Indiana Economic Development Corporation. “Vitran Express’ commitment to expand here at the ‘Cross Roads of America’ brings new jobs and additional capacity to this vital industry.”
About Vitran:
Vitran Corporation is a North American provider of freight services and distribution solutions to a wide variety of companies and Industries. Vitran offers less-than-truckload (LTL) service throughout Canada and the United States utilizing its own infrastructure and exclusive partners. Vitran Logistics provides special distribution solutions that range from inventory consolidation to responsibility for the complete distribution function as well as highway and rail brokerage. Vitran also provides premium same-day and next-day Truckload (TL) services in the U.S. Midwest.
About Tax Abatements:
Tax abatement is a tool for local government’s to expand the economy. By encouraging new investment, tax abatement will increase or maintain the basic employment in the community, encourage redevelopment of deteriorated areas, and/or stimulate investment in specific areas of a community. Tax abatement is one of the primary incentives available to local government to promote economic development.
Economic Development Hot streak continues:
- AT&T – 425 new jobs , $4.6 million investment
- Princeton One – 200 new jobs, nearly $32.00 per hour
- Allegiant Global Services – 123 new jobs , $26.00 per hour
- Oxford BioSignals – 120 new jobs, new headquarters in Hamilton County
- Exact Target – 90 new jobs, $36.00 per hour
- Site Selection and Expansion Management named the Indianapolis MSA as a top metro.
- Bio and Battelle ranked the Indianapolis life sciences workforce the ninth largest in the county.
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