SS&C Technologies is creating up to 500 new jobs in Evansville, Indiana, by 2014. The company will establish a new service and technology center there. SS&C will invest $3.9 million in the expansion.

"According to the 2010 HedgeFund.net survey, we are the fifth-largest fund administrator in North America, based on assets under administration, and we plan to leverage our Evansville operations to continue growth in the alternative asset management sector," said Bill Stone, chairman and CEO of SS&C. "We selected the state of Indiana and the city of Evansville based on several criteria, including the strong partnerships we have forged with the state and city, and the talent and skills available."

The Indiana Economic Development Corporation has offered SS&C Technologies up to $8.3 million in performance-based tax credits and up to $200,000 in training grants. The city of Evansville will consider additional property tax abatement at the request of the Growth Alliance for Greater Evansville.

SS&C provides software services to hedge funds, insurance companies, and institutional asset managers.