Innovatemap, a digital product agency, plans to expand operations in Indianapolis, Indiana. The project is expected to create up to 15 new high-wage jobs by the end of 2023.
The Indianapolis-based company will invest $938,000 to renovate and equip its 5,000-square-foot office space at 1002 Broad Ripple Ave., which will house Innovatemap's core business operations and client delivery services and enable a hybrid model of in-person and remote collaboration.
“The Midwest ecosystem is in alignment with our business and our values," said Mike Reynolds, Innovatemap CEO. "It’s the most advantageous place for us to build our team and deliver our services. We are committed to Indiana and will remain headquartered in the state as we grow.”
The Indiana Economic Development Corporation (IEDC) offered Innovatemap up to $250,000 in conditional tax credits and up to $50,000 in conditional training grants based on the company’s job creation plans. These tax credits are performance-based, meaning the company is eligible to claim incentives once Hoosiers are hired. The city of Indianapolis supports the project in partnership with Develop Indy.
“Indiana's tech community is thriving with more companies like Innovatemap choosing to grow in Indiana," said Interim Indiana Secretary of Commerce Jim Staton. "Indianapolis is growing its reputation as a tech hub, and our state's quality of life, low cost of living and business-friendly environment make it the ideal location for companies like Innovatemap to grow their teams."
Innovatemap provides product management, marketing, design and branding services for Software-as-a-Service businesses. The company currently employs 27 associates in Indiana and two in New York City.
“We’re excited about the growth of Innovatemap, especially as it brings new high-wage jobs to our city,” said Indianapolis Mayor Joe Hogsett. “This announcement is yet another indicator that Indianapolis has a strong entrepreneurial ecosystem for founders to create and expand their business.”