Allied Solutions moves its corporate HQ to Midtown with $32.9M project creating 614 new jobs
Allied Solutions, a Carmel-based provider of insurance and financial institution products, will relocate its corporate headquarters to a new five-story building in the Midtown project of Carmel. Allied’s expansion near the Monon Trail is a $32.9 million project that will create 614 jobs over the next 10 years .
“Indiana is our home,” said Pete Hilger, President, Allied Solutions. “I raised my family here and our company has thrived here for almost 20 years. We’ve become what we are today because of the hard work and energy of our people. There’s a great work ethic, which make for loyal employees dedicated to a common goal. The investments made in the Carmel area make it a great place to operate our business,” Hilger commented.
This relocation will double Allied’s size in Carmel and add another big name to the proposed multi-building development by Carmel’s Old Town Design Group.
The company plans to move into a new 135,000 square-foot building and lease the top four floors to the company, with the first floor to be leased by another local company to be announced at a later date, along with several restaurants on the plaza. This project also includes a new six-story parking garage with 600 spaces, many of which will be open to the public.
The Indiana Economic Development Corporation is providing $4 million in Edge Tax Credits to the project, contingent on the company meeting job creation goals.
The City of Carmel plans to use tax increment financing, or TIF, to help finance construction for the parking garage. This has long been discussed by Justin Moffett, owner of Old Town Design Group, but specific details haven’t been released yet about the proposed TIF funding, such as whether it would be a TIF split where the city receives a portion of the revenue or whether a bond that would be used to pay for the garage would be backed by the city or the developer.
The City of Carmel announced the news at a Jan. 14 press conference that featured Indiana Gov. Mike Pence in attendance.
The Midtown project connects the Carmel Arts & Design District and the Carmel City Center along the Monon Trail. As of now, most of the proposals are focused to the east of the trail with a parking garage, city market, co-working space and coffee lounge in the works. Merchants Bank is also planning to relocate its headquarters to a building in Midtown.
Merchants is relocating ton a 100,000-square-foot building on the corner of 4th Street and Monon Avenue, a $25 million project scheduled to be complete in spring 2017. Merchants is expected to bring 70 employees to the area.
The Carmel City Council is also considering using a bond to help expand the Monon Trail in the Midtown area as a part of Carmel Mayor Jim Brainard’s proposed $217 million in new projects, necessitating $242 million in bonds when you consider various fees.
Allied Solutions was founded 35 years ago in Cicero and settled in Carmel in 1998.