State and City Unveil Economic Development Incentives
INDIANAPOLIS - (March 21, 2005) - Indiana Governor Mitch Daniels and Indianapolis Mayor Bart Peterson joined ExactTarget co-founders and associates to formally announce the company`s plans to relocate and expand its headquarters in Indianapolis and to create more than 100 additional jobs over the next five years to fuel the rapid growth of the on-demand software company. ExactTarget signed an eight-year lease for new headquarter space in the Guaranty Building, in one of the largest real estate transactions downtown in the past year.
Founded four years ago, ExactTarget has grown to be one of the leading permission-based email software providers, with 130 U.S. employees and 3,000 customers under annual contract, the most in the industry.
ExactTarget has committed to adding more than 100 new workers at its Indiana headquarters, and to investing more than $3.6 million in real and personal property in Indiana. In support of this commitment, the Indiana Economic Development Corporation offered generous incentives.
"A homegrown, high tech small business growing fast is the single best sign the Indiana economy can produce. Our goal is dozens more announcements like this one," said Governor Daniels.
The IEDC incentives included:
• $875,000 in Economic Development for a Growing Economy tax credits;
• $102,000 in training grants through the Skills Enhancement Fund;
• Up to $50,000 in training grants through the Technology Enhancement Certification for Hoosiers Fund; and
• Additional assistance through the Hoosier Business Investment Tax Credit program.
"ExactTarget is delighted to announce that our new corporate headquarters will be located in the heart of downtown Indianapolis. This facility will increase our productivity, enhance our ability to attract and retain the brightest employees and provide a wonderful showcase for clients and prospects that visit us from around the world," said Scott Dorsey, president of ExactTarget. "Our heartfelt thanks go to the city and state for their efforts to make Indianapolis and the state a wonderful place to do business."
In addition to the IEDC incentives, the City of Indianapolis awarded ExactTarget a seven-year personal property tax abatement valued at approximately $115,000.
"The City of Indianapolis is excited that we could work closely with the ExactTarget team to assure that the company`s future in downtown Indianapolis will be part of our headquarters business landscape," said Mayor Bart Peterson.
Jeb Conrad, executive director for Indianapolis Economic Development, a division of the Indy Partnership, added, "It was a pleasure for IED to play a role in retaining and assisting in the growth of a quality, homegrown technology company."
ExactTarget has signed an eight-year lease for 29,264 sq. ft. in the Guaranty Building, 20 N. Meridian Street, in one of the largest real estate transactions downtown in the past year. The company will occupy four floors in the historic building in the heart of Indianapolis, overlooking Monument Circle. The build-out will incorporate historic features of the building with a warm, contemporary feel to reflect the company`s young culture. Office space will be open and flexible to enable teams to collaborate. Expansion options have been incorporated into the lease.
Carmen Real Estate represented ExactTarget in building negotiations. Brokers included Chris Carmen and Jenna Barnett. Dave Buchanan from Mansur Real Estate represented the building.
Indianapolis-based Ginovus provided economic development services.
ExactTarget delivers on-demand email software solutions for permission-based email marketing. The Home Depot, General Mills, Scotts, Churchill Downs, Encyclopedia Britannica, and more than 3,000 organizations worldwide rely on ExactTarget email solutions to strengthen their customer relationships and to control email throughout the enterprise. JupiterResearch ranks ExactTarget highest in business suitability in 2004 based on the solution`s usability, strong feature set and dynamic content tool. ExactTarget was ranked a Strong Performer in the 2004 Forrester Wave™ report based on the software`s extreme ease of use and standout capabilities for managing brand consistency and legislative compliance. ExactTarget offers solutions that meet the needs of all industry verticals and all size organizations, including SMB, corporate divisions, not-for-profits, large retail/direct marketers, agencies and enterprises. Privately owned and headquartered in Indianapolis, the company has more than 30 U.S. sales offices. To learn more, go to http://www.exacttarget.com