Belden, Inc., a manufacturer of signal transmission products, has announced it will invest over $3 million to expand its operations in Carmel, Indiana, and create up to 40 jobs by 2014. Hiring for the new employees begins this year. The project expands the firm's executive headquarters for its Americas division via the leasing and outfitting of a new 30,000-sq.-ft. facility.
St. Louis, Missouri-based Belden designs, manufactures and markets cable, connectivity and networking products, and employs nearly 6,600 associates worldwide--including 39 workers in Carmel. Its Americas division headquartered in that city represents over half of the company's $1.7 billion revenues in 2010.
Belden was offered up to $750,000 in performance-based tax credits (based on its job creation plans) from the Indiana Economic Development Corporation. The city of Carmel will consider offering additional property tax abatement.
"Belden is pleased to receive the support of the state of Indiana and the city of Carmel for its growth plan in the Indianapolis area," said Denis Suggs, executive vice president, Americas Operations and Global Cable Products at Belden. "The business environment in Indiana is tremendous and we are proud to employ over 800 Indiana residents."
Belden's Carmel expansion project comes on the heels of recent announcements from a few other companies in nearby Indianapolis. Together, Angie's List, Old Dominion Freight Line and Belden have committed to creating over 700 jobs and investing almost $37 million in central Indiana within the next few years.