Stonegate Mortgage Corporation Invests $6.2 Million To Expand Indianapolis, Indiana, Headquarters
The company will invest $6.2 million to lease, renovate and equip an additional 21,000 square feet of space in Carmel’s North Haven office park, just north of its Indianapolis headquarters. Stonegate will maintain operations at its current 81,515 square-foot office at The Precedent office park in Indianapolis.
“When we founded the company in 2005, our focus was on creating a profitable and sustainable business,” said Jim Cutillo, Founder/CEO of Stonegate Mortgage. “In December of 2010, we announced the creation of 300 jobs in Indiana by 2015, with the help of the Indiana Economic Development Corporation. We are pleased to report that we have exceeded that target. Today, as a publicly traded company our focus remains the same and we are announcing the creation of another 400 jobs by 2017 here in Indiana, as we expand our corporate headquarters.”
“After launching in Indiana and growing into a national company, Stonegate knows firsthand the benefits of doing business in a state that works,” said Governor Mike Pence. “With hard working Hoosiers forming the strongest business backbone in the country, Indiana companies earn a competitive advantage here that they frequently can’t find elsewhere. Add in our central location and low-tax business environment, and it’s easy to see why highly-successful companies continue to recognize Indiana as the destination of choice for new job-creating investment.”
Today’s announcement marks Stonegate’s second headquarters expansion in recent years. In 2010, the mortgage lender announced plans to add 300 new jobs by 2015 in central Indiana. Stonegate has already exceeded that goal, adding more than 310 net new jobs as of December 2013, according to state officials.
As an incentive, Indiana Economic Development Corporation offered Stonegate Mortgage Corporation up to $4,825,000 in conditional tax credits and up to $161,250 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 Carmel supports this project.
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