The LIDS hat stores found in nearly every mall in the country have been doing a good business, so good that the parent company, Hat World, has decided to build a new headquarters just west of Michigan Road and 106th Street.
The company also announced plans to expand its distribution operations in central Indiana, creating up to 758 new jobs by 2025.
The homegrown Hoosier company, which manufactures apparel and operates retail stores primarily under the LIDS brand, will invest $21.77 million to construct and equip a 150,000-square-foot office to house its operational headquarters at the Creekside Corporate Park in Zionsville, as well as lease more than 600,000 square feet of additional warehouse space in Indianapolis.
Hat World currently operates out of 225,000 square feet of leased space in Park 100 and another 285,000 square feet of leased space on 76th Street on the northwest side of Indianapolis.
“Today’s announcement continues to prove why Indiana is the best state in the nation to start or grow a business,” said Indiana Gov. Mike Pence.
“Hat World took hats to new heights here in the Hoosier State when it turned a creative idea into a business that today can be found in malls across the nation. With our pro-growth business environment, we provide a low cost of doing business and talented workforce that help companies like Hat World succeed, making Indiana a state that works.”
Hat World, which currently has more than 1,000 employees in Indiana and more than 9,000 retail associates across the United States, Canada and Puerto Rico, will begin relocating its headquarters to Zionsville and filling approximately 300 new administrative, finance, human resource and business development positions in late 2015 or early 2016.
Also, the company plans to begin hiring new manufacturing, distribution and warehouse associates in Indianapolis in the third quarter of 2014.
The Indiana Economic Development Corporation offered Hat World, Inc. up to $3.4 million in conditional tax credits and up to $300,000 in training grants 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.
In addition, the IEDC will provide the community with up to $250,000 in infrastructure assistance from the state’s Industrial Development Grant Fund. The town of Zionsville will consider additional tax abatement and incentives. Also, the city of Indianapolis supports the project at the request of Develop Indy, a business unit of the Indy Chamber.
“Zionsville could not be happier regarding this announcement. We are very proud that Hat World will call Zionsville its home,” said Jeff Papa, president of the Zionsville Town Council.