AXISCADES to setup North American headquarters in Indiana

ANI | Updated: Nov 03, 2017 16:19 IST

New Delhi [India], Nov. 3 (ANI): AXISCADES, a product engineering solutions company hosted Eric J. Holcomb, Governor of Indiana State, US, and announced its plan to set up its North American Head Quarters in Indiana.

This will enhance the company's US presence, and create 500 high-wage engineering jobs by the end of 2023.

"AXISCADES choosing to establish its North American headquarters in the Hoosier state sends a clear message that Indiana is open for business. I am proud to be in India this week, building our business and educational relationships, and could not be more excited to welcome another India-based firm to Indiana. I look forward to AXISCADES joining the Hoosier family, and I am confident that our skilled workforce will be a crucial asset to its future success," said Governor Holcomb.

The Bengaluru-based company provides product engineering solutions to aerospace, defense, heavy engineering, automotive, energy, medical and health care companies. It plans to invest up to USD 10 million over the next five years to establish operations in Indiana to grow its US operations and help address engineering needs of US-based original equipment manufacturers.

The company has shortlisted possible sites in Indiana to locate the new facility. It will make the final decision by the end of this year and launch operations in Indiana by April 2018.

AXISCADES currently employs more than 1,900 associates across North America, Europe and Asia, including approximately 250 engineers in North America that are stationed at both the company's offices in Peoria, Illinois, and Montreal, Canada, and on-site at its clients' facilities. The company, which is headquartered in Bangalore, plans to begin hiring for engineering jobs in Indiana next spring (around June).

AXISCADES offers solutions in mechanical engineering, embedded software and hardware, system integration, manufacturing and aftermarket solutions across domains. With 14 engineering centers located worldwide, the company offers services across product design, development and lifecycle support stages to its clients.

Pending approval from the Indiana Economic Development Corporation (IEDC) board of directors, the IEDC offered AXISCADES up to USD 4,300,000 in conditional tax credits and up to USD 500,000 in training grants based on the company's job creation plans. These incentives are performance-based, meaning that until Hoosiers are hired, the company is not eligible to claim incentives.

AXISCADES will also be eligible for state's Industrial Development Grant Fund to support infrastructure needs. (ANI)