Stratosphere Quality Expands Fishers, Indiana, Headquarters
The company will invest $3.7 million to update its 46,000-square-foot headquarters at 12024 Exit Five Parkway in Fishers. As part of its update, Stratosphere Quality will add additional break rooms, enhance office space and increase employee training opportunities to accommodate its growing team.
“Indiana is a great place for a growing company, and is home to a friendly business environment with a good pool of talented workers,” said Tom Gray, CEO of Stratosphere Quality. “Our employees have played a large role in our success and growth as a company. Our hiring and training practices are the fundamentals of excellent service delivery to our customers and we have sincerely appreciated the state’s assistance with our efforts.”
The Indiana Economic Development Corporation offered Stratosphere Quality LLC up to $800,000 in conditional tax credits and up to $200,000 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 Fishers supports the project.
According to IEDC, Stratosphere Quality anticipates continued growth rates of more than 10 percent per year, and must expand its operations to meet the increased demand. Between 2012 and 2015, the company grew its revenue by 40 percent, generating annual revenues exceeding $100 million.
This is Stratosphere Quality’s second major expansion announcement in recent years. In 2012, the company announced plans to invest $2.6 million into its Fishers headquarters and grow its headcount.
The company exceeded its hiring goal and currently employs nearly 600 Hoosiers as part of its team of over 2,200 associates across North America. With plans to add 250 new Hoosier jobs, Stratosphere Quality will continue hiring for quality inspectors, team leaders and supervisors throughout the year, county officials said.
“Across the state, companies like Stratosphere are making Indiana a great place to work and live,” Governor Eric J. Holcomb said. “It’s exciting to see companies benefit from our low-tax climate and skilled workforce. We will take Indiana to the next level by continuing to develop a diverse economy that meets the demands of the 21st century.”
“Stratosphere’s growth demonstrates the positive impact their service has on companies around the globe, but it’s their impact on Fishers that makes them a great asset, both as a business and as community partners,” said Fishers Mayor Scott Fadness. “The commitment to community keeps Fishers vibrant and growing, and I’m happy to see Stratosphere continue their growth trajectory in our city.”
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