myCOI, a provider of cloud-based software for tracking and managing certificates of insurance, plans to expand its headquarters in Indianapolis, Indiana. The company plans to create up to 185 jobs by 2021.
The homegrown Hoosier company will invest more than $765,000 to double its footprint, leasing and furnishing a new 6,841-square-foot headquarters at 445 N. Pennsylvania St. in Indianapolis.
“Indiana continues to be an ideal location for our company and client success stories,” said Kristen Nunery, CEO for myCOI. “Indianapolis is home to the fifth fastest growing technology community in the United States, offering a talented Hoosier workforce, access to venture capital and great support and resources from organizations like the IEDC and Elevate Ventures. With the tools needed for growth at our fingertips, we are excited to continue our momentum right here in our home state.”
The company completed its relocation in March, which allows myCOI to accommodate its growing sales and insurance service teams. In addition, the company offers its employees collaborative workspaces and team huddle rooms.
myCOI, which currently has 36 full-time employees in Indiana, has already begun hiring sales, software development and insurance service professionals.
"myCOI's success showcases how an idea can transform into a thriving company that employs hundreds of hard-working Hoosiers," said Lt. Governor Suzanne Crouch. "As we enter our third century, we will continue to equip our job creators with the best tools by maintaining our fiscal predictability, creating a low-cost, low-tax business environment and investing in Indiana's innovators, like myCOI, who create good, high-paying jobs for Hoosiers."
The Indiana Economic Development Corporation (IEDC) offered myCOI LLC up to $1,750,000 in conditional tax credits and up to $42,500 in training grants based on the company’s job creation plans. These incentives are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives. The city of Indianapolis supports the project in partnership with Develop Indy, a business unit of the Indy Chamber.