Nyhart Expands Its Indianapolis, Indiana, Headquarters To Accommodate Growth
Area Development Online News Desk (07/01/2013)
An actuarial and healthcare benefits firm, Nyhart, will expand its Indianapolis, Indiana headquarters, creating up to 25 new jobs by 2017. The company will invest $840,000 to lease and equip an additional 8,000 square feet of office space, which will be operational by summer 2014.
"Indiana's colleges provide an excellent supply of skilled talent, with curriculums that directly benefit our company's operations," said Thomas Totten, chief executive officer of Nyhart. "When visiting universities across the state, I'm consistently impressed with the students I meet and try to bring the top minds back to our organization."
The firm, which currently has 68 full-time employees in Indianapolis and more than 95 employees across five other states, has already begun hiring additional actuaries, administrators and benefit consultants.
"Indiana's network of top-ranked universities prepares Hoosiers to fill in-demand jobs like those in the benefit consulting and actuary industries," said Eric Doden, president of the Indiana Economic Development Corporation. "Combine this talented workforce with our low-tax, pro-growth policies, and, once again, Indiana demonstrates why it is a state that works for business."
As an incentive, Indiana Economic Development Corporation offered Nyhart up to $325,000 in conditional tax credits and up to $35,000 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. In addition, the city of Indianapolis supported the project at the request of Develop Indy, a business unit of the Indy Chamber.
"Nyhart could have chosen Atlanta or San Diego for their expansion, but they chose Indianapolis, which speaks volumes for our strong business climate," said Indianapolis Mayor Greg Ballard. "We're always happy to see great companies expanding here, and providing job opportunities for our skilled workforce."