Client Profile
Infrastructure and Energy Alternatives (IEA) is one of the largest alternative energy construction companies in the world, with rapid year over year growth and significant future expansion plans. IEA works with wind, solar, thermal, biomass, and petrochemical/industrial energy production as well as heavy civil engineering projects such as the I-69 interstate extension in southern Indiana. IEA operates in all 50 states and Canada.
The Challenge
IEA started as White Construction, a heavy civil contractor based in Clinton, Indiana. Through a steady series of acquisitions, IEA was formed, combining the resources of over five different companies across the U.S. under one corporation. With this combination, IEA went public in 2018 and has continued to grow into new markets through acquisitions. With the growth around the country, including significant operations in Alabama, Colorado, California and Illinois, the company evaluated multiple options for its global headquarters including expanding its Indianapolis base or locate a new headquarters closer to its growing markets.
Study Results
IEA hired McGuire Sponsel to manage the negotiation and procurement of State economic incentives. McGuire Sponsel negotiated and worked with the Indiana Economic Development Corporation (IEDC) to procure tax credits to assist with the establishment of an expanded headquarters operation on the northwest side of Indianapolis. 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 which will assist with the establishment of its global headquarters and Clinton based operations, increasing its professional headcount by a projected 130 employees.
State and Local Incentives
- $2,600,000 Economic Development for a Growing Economy (EDGE) Tax Credits
$2,600,000 Total Incentives