Ash Brokerage Corporation Invests $19.6 Million To Expand Its Fort Wayne, Indiana, Headquarters
Area Development Online News Desk (09/23/2013)
Ash Brokerage Corporation, a wholesale insurance brokerage partner to insurance agents, financial advisers and career agents, plans to expand its Fort Wayne, Indiana, headquarters, creating up to 115 new jobs by 2018.
The homegrown-Hoosier company will invest $19.6 million to relocate its current Fort Wayne headquarters into a more than 90,000 square-foot facility located at the corner of Harrison and Berry Streets in the downtown area. The expansion, which will be complete by August 2015, will allow the company to centralize its core processing into one location.
"The Ash team is committed to creating opportunity for our clients, our partners, our employees and our communities," said Tim Ash, president and chief executive officer of Ash. "As a hometown company, we're proud to add to Fort Wayne's growing momentum by generating high-quality jobs in an expanding industry sector. We're equally proud to be bringing nearly $20 million of private investment and a new national headquarters in the heart of the city. Our roots are firmly planted here. We believe our choice sends a powerful message to businesses everywhere about the welcoming climate in the Hoosier State."
Ash, which currently employs approximately 225 associates in Fort Wayne, plans to begin hiring for sales, new business administration, mobile application development and information technology positions by the end of this year. The firm will occupy up to three floors above a new city parking garage, with expanded retail and business properties available on the ground floor.
"Indiana's business climate is ripe for investment," said Gov. Mike Pence. "Ash and other growing Indiana companies know this is a state that works for business. Our growing economy is bolstered by a skilled workforce, robust infrastructure and limited regulations. We passed the largest state tax cut in our history earlier this year, showing companies here and around the world that Indiana is open for business."
As an incentive, the Indiana Economic Development Corporation offered Ash Brokerage Corporation up to $4.9 million in conditional tax credits based on its capital investment plans. These tax credits are performance-based, meaning until investments in Indiana are made, the company is not eligible to claim incentives. In addition, the city of Fort Wayne will consider additional tax abatement at the request of the Fort Wayne-Allen County Economic Development Alliance.
"The city of Fort Wayne is experiencing unprecedented positive momentum as a destination place for business growth, jobs and mixed-use developments," said Fort Wayne Mayor Tom Henry. "We're looking forward to working with the IEDC and our project partners in Fort Wayne to build a world-class development in our downtown. Collaborated efforts between state and local government and the private sector position us for future growth and success."