A technology firm in the internet of things industry, Mesh Systems plans to expand its Carmel, Indiana, operations facility, creating up to 40 new jobs by 2017. The company will invest $325,000 to purchase equipment and double the size of its offices at Meridian Park Place Two.
Mesh Systems’ products and technology connect everyday objects such as street lights, water heaters and coffee machines to a cloud-based software platform and application suite. The company plans to hire software engineers, IT professionals, project managers and support staff to meet growing demand for its products and services.
"According to industry analysts, the value of the IoT marketplace will grow to more than $1 trillion dollars by 2020,” said Doug Brune, Chief Operating Officer/Co-founder of Mesh Systems. "Working in partnership with the state of Indiana, we are committed to capturing a disproportionate share of that value for the state of Indiana. Expansion here in Indiana allows us to draw from an exceptional pool of talent, critical to the continued growth and success of Mesh Systems.”
“Indiana’s homegrown companies understand the benefits they gain here as part of our Hoosier economy,” said Eric Doden, President of the Indiana Economic Development Corporation. “And with a state unemployment rate consistently below our neighbors, companies like Mesh Systems are taking advantage of Indiana’s low tax environment to grow their operations and put more Hoosiers to work.”
As an incentive, Indiana Economic Development Corporation offered Mesh Systems up to $535,000 in conditional tax credits and up to $65,000 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 Carmel supports the project.