Vera Bradley Invests $26.6 Million To Expand Its Fort Wayne, Indiana, Operations Center
Area Development Online News Desk (08/05/2013)
Vera Bradley, Inc., a designer of handbags, gifts, travel bags and accessories, plans to invest $26.6 million to expand its Fort Wayne, Indiana operations center, creating up to 128 new jobs by 2017.
The homegrown-Indiana company will expand and equip its current 40,000 square-foot design center by 149,000 square feet and expand its distribution center by 10,000 square feet. Both facilities are located on Stonebridge Road off the Lafayette Center Road exit on Interstate 69 and are expected to be operational next year.
"We are proud to invest in our home-state," said Barbara Bradley Baekgaard, chief creative officer and co-founder. "Our design center expansion will bring nearly all of our northeast Indiana employees together on one campus."
This is Vera Bradley's second major expansion in northeast Indiana in less than two years. In 2011, the company announced plans to invest $22.5 million to expand its Roanoke distribution center to 420,000 square feet, adding 124 new jobs.
"As I travel across this great Hoosier state, I witness daily the endless possibilities that can result from a terrific idea," said Gov. Mike Pence. "A great idea by two entrepreneurs led to the global success story of Vera Bradley. I'm proud that because of Indiana's low tax, pro-growth business climate, the company has been able to grow at an incredible rate right here at home, further proving that Indiana is a state that works for business."
"The county takes great pride in being home to such a great leader in the gift and fashion industry," said Allen County Commissioner Nelson Peters. "We are pleased to watch Vera Bradley's continued success unfold with this expansion."
The Indiana Economic Development Corporation offered Vera Bradley, Inc. up to $1,750,000 in conditional tax credits 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.
In addition, Allen County will consider additional property tax abatement at the request of Fort Wayne-Allen County Economic Development Alliance. The company is working with the Fort Wayne-Allen County Economic Development Alliance on additional incentives.