Gov. Mike Pence made the trek up Meridian Street from the governor’s mansion on a cold morning Dec. 11 to announce with Allegion executives that the company would add 100 jobs to its new Carmel headquarters.
New in the sense that the Ingersoll Rand spinoff company would continue to operate out of a facility in Carmel, just under a new name.
Carmel will be Allegion’s new North American headquarters. The company also has a 380,000-square-foot manufacturing facility on the east side of Indianapolis, where it produces pushable exit-devices for doors.
“Allegion joins a growing list of international firms that are finding opportunity in Indiana,” Pence said in a statement prior to the announcement. “Indiana is equipped with the best workforce in America and taxes designed to keep business expenses low, offering an advantage that other states do not. As companies continue to choose Indiana as their destination of choice for new investment and opportunities, we are witnessing a growing economy and more Hoosier jobs, making this a state that works.”
It’s been a big week for the new publicly-traded company. On Dec. 9 executives from Allegion rang the opening bell at the New York Stock Exchange to celebrate being traded on the Standard & Poor’s 500 Index.
Allegion, which currently employs more than 1,000 Hoosiers and 500 in Carmel, plans to continue hiring for various corporate positions. Interested applicants may apply at www.allegion.com.
Allegion produces mechanical and electronic security products for the commercial and residential markets, with projected 2013 revenues of approximately $2 billion. The company also operates regional corporate centers in Belgium and China. As the company’s base in North America, the Carmel operation is home to corporate functions such as finance, information technology, human resources, supplier management and global operations.
The Indiana Economic Development Corporation offered Allegion up to $2 million in conditional tax credits based on the company’s job creation plans. These tax credits are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives. The city of Carmel also supports the project.
“We work hard to create the type of city that attracts professionals who want to live where they have a wide variety of cultural, recreational and entertainment options,” said Carmel Mayor Jim Brainard in a statement prior to the event. He couldn’t attend due to a prior commitment with the White House Task Force on Climate in Washington D.C.