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Powderkeg Expands Operations in Indianapolis, Indiana

02/16/2018
Powderkeg, a technology-based network that helps high-growth technology ventures connect with resources to scale up, plans to expand in the central part of the Hoosier State, creating up to 37 new jobs by 2022 in Indianapolis, Indiana.

To support its growth, the company invested into private office space located inside Industrious Indianapolis, a new 20,000-square-foot coworking office space at 350 Massachusetts Avenue in downtown Indianapolis. The new space, which the company moved into this year from DeveloperTown, will offer its growing team with a collaborative and innovative environment including a roof deck.

“We’re going to kill the term ‘flyover cities’ in the next four years. Our platform taps the immense tech talent, services, products and growth potential in the majority of the country between the coasts,” said Matt Hunckler, Founder & CEO of Powderkeg. “With our expanding national ecosystem for tech innovators, scaling companies will have the tools and resources they need to grow.”

To support increased demand and planned growth, the company is currently hiring for software developers, client success administrators, product managers and sales associates. New positions are expected to offer average salaries more than 50 percent higher than the state’s average wage.

"Hoosier entrepreneurs like Powderkeg continue to fuel Indiana's reputation as a hub for innovation," said Elaine Bedel, President of the Indiana Economic Development Corporation (IEDC). "Our talented workforce paired with our pro-growth business climate make Indiana an ideal place to launch a business, grow a business and get a job. We look forward to witnessing Powderkeg's continued growth as they work to connect high-growth companies across the U.S. with 21st century tools for scaling up."

The IEDC offered Indy Founders LLC (dba Powderkeg) up to $400,000 in conditional tax credits and up to $100,000 in training grants based on the company’s job creation plans. These tax credits are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives. The city of Indianapolis supports the project at the request of Develop Indy, a business unit of the Indy Chamber.

“Powderkeg has taken full-advantage of Indianapolis’ culture of innovation, helping to fuel the local tech industry by providing companies a crucial jump-start,” said Indianapolis Mayor Joe Hogsett. “Today’s announcement and the continued growth of Powderkeg will ensure all tech entrepreneurs have the resources they need to connect ideas with investment, and Indianapolis is proud to have this company continue to call our city home.”

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