Client Profile
Electric Plus, Inc. is a full-service electrical contractor working primarily in Indiana. Electric Plus works with large commercial and industrial construction projects including new construction, remodeling, and service work. Electric Plus has served a broad range of industry types, including agriculture, commercial, correctional, educational, government, healthcare/hospital, industrial, petroleum/energy, pharmaceutical, and transportation companies. Maintenance, long-term planning, and equipment exercising also help make Electric Plus a leading electrical contractor and industry leader around the state of Indiana.
The Challenge
Electric Plus started on Indianapolis’ west side with 3 employees in 2006. Today, Electric Plus has grown to nearly 300 employees, many of those being certified, union electricians. Electric Plus recently renovated a former car dealership into a new corporate office location in Avon, Indiana. Major projects for Electric Plus include, Wabash Valley Correctional Facility, Nestle, Pepsi Co., Eskenazi Hospital, Citizens Energy offices, and the Indiana University baseball stadium. With this portfolio of significant clients and successful projects, Electric Plus began to receive demand for projects outside of Indiana. The opportunity for Electric Plus in these new markets required the company to consider a large scale hiring initiative. Electric Plus needed to consider whether they would grow at their corporate headquarters in Indiana or establish a new office in a different region of the country.
Study Results
Electric Plus hired McGuire Sponsel to negotiate and procure economic incentives on their behalf in support of the company’s considered expansion. McGuire Sponsel negotiated and worked with the Indiana Economic Development Corporation (IEDC) to procure tax credits and incentives to assist with the expanded operation and employment on Indianapolis’ west side. The company, with the guidance and collaboration of McGuire Sponsel’s Credits and Incentives team, requested and received EDGE tax credits from the State of Indiana. These incentives will assist the company’s growth plans to a projected 50+ additional employees.
State and Local Incentives
- $575,000 Economic Development for a Growing Economy (EDGE) Tax Credit
$575,000 Total Incentives