When Marty McFarland was seeking a home for Kinetic Advantage’s headquarters, Carmel seemed a perfect fit.
“I’ve been involved in three startups in Carmel and have found it is a great place to build a business given the educated workforce, excellent work ethic and pro-business climate,” said CEO and founder McFarland, who has lived in Zionsville for the past 25 years. “I am thrilled to work with my teammates in building an employee- and customer-centric business.”
The automotive floorplan financing company, founded in July 2020, is housed in 24,500 square feet of office space at 10333 N. Meridian St. The company plans to invest more than $4 million to expand the headquarters and leasing and equipping an additional 34,200 square feet in the same building. The additional upgraded space, which should be finished by April, will allow Kinetic to grow its client base and continue providing technology-driven solutions to independent automotive dealers across the U.S.
Kinetic has already launched in 26 markets and will continue expanding nationally by developing relationships across auction platforms.
“Independent car dealers are the natural choice for many individuals seeking to purchase a used vehicle,” said McFarland, who co-founded Dealer Services Corp. “These dealers are true entrepreneurs who work hard to meet the needs of their customers and must compete against large franchise dealers, digital sales as well as rising cost of inventory. As long-time industry veterans with our sole focus on independent dealers, we provide inventory financing to our dealer partners in a transparent and straightforward way. We are independent, just like our dealer partners, and we encourage our dealer partners to secure inventory wherever and whenever they choose and provide financing in a seamless way to help our dealers help their customers.”
Kinetic plans to add 225 jobs, including 150 at the Carmel headquarters, during the next few years, McFarland said.
The Indiana Economic Development Corp. offered Kinetic Advantage up to $5 million in conditional tax credits based on the company’s plans to create up to 273 jobs by the end of 2024. The tax credits are performance-based, meaning the company is eligible to claim incentives when Indiana residents are hired.