Two Companies, Two Announcements, 222 Jobs

Two Companies, Two Announcements, 222 Jobs

In less than a day, two technology companies in central Indiana announced job-creation plans totaling in some 222 new jobs. The announcements were reported by the Indiana Economic Development Corporation, who will be providing the two companies with tax credits and training grants to assist their plans for growth. Today, the Indianapolis region is the fifth-fastest growing community in the nation for technology-related job growth, growing at a rate of 27.9 percent.

The announcements have been added below.

Tech Firm Plans Scaleup, Double-Digit Job Growth in Indiana 

myCOI, a provider of cloud-based software for tracking and managing certificates of insurance, announced plans to expand its headquarters in Indianapolis, creating up to 185 jobs by 2021.

“myCOI’s success showcases how an idea can transform into a thriving company that employs hundreds of hard-working Hoosiers,” said Lt. Governor Suzanne Crouch. “As we enter our third century, we will continue to equip our job creators with the best tools by maintaining our fiscal predictability, creating a low-cost, low-tax business environment and investing in Indiana’s innovators, like myCOI, who create good, high-paying jobs for Hoosiers.”

The homegrown Hoosier company will invest more than $765,000 to double its footprint, leasing and furnishing a new 6,841-square-foot headquarters at 445 N. Pennsylvania St. in Indianapolis. The company completed its relocation in March, which allows myCOI to accommodate its growing sales and insurance service teams. In addition, the company offers its employees collaborative workspaces and team huddle rooms.

myCOI, which currently has 36 full-time employees in Indiana, has already begun hiring sales, software development and insurance service professionals. Positions are expected to offer average salaries more than 20 percent higher than the state’s average wage.

Founded in 2009, myCOI assists its clients with managing certificates of insurance to protect them from underinsured claims, litigation and the risk of failed audits. With clients in a variety of industries such as construction, property management, manufacturing, insurance agencies and many others, myCOI’s clients include JE Dunn, Hines, Cushman and Wakefield, Caterpillar, RE/MAX, Meyer Najem and Indianapolis Motor Speedway.

“Indiana continues to be an ideal location for our company and client success stories,” said Kristen Nunery, chief executive officer for myCOI. “Indianapolis is home to the fifth fastest growing technology community in the United States, offering a talented Hoosier workforce, access to venture capital and great support and resources from organizations like the IEDC and Elevate Ventures. With the tools needed for growth at our fingertips, we are excited to continue our momentum right here in our home state.”

In 2016, the company was announced as a winner of the Venture Club of Indiana’s pitch competition at the annual Innovation Showcase. Since its founding, myCOI has raised $2.4 million in venture capital funding, including investments from the Indiana Angel Network Fund (IANF), which is managed by Elevate Ventures, and has leveraged the state’s Venture Capital Investment (VCI) tax credit program to help attract private investment. In addition, Kristen Nunery, myCOI’s founder and chief executive officer, was named to the 2015 Young Guns list by Insurance Business America.

The Indiana Economic Development Corporation (IEDC) offered myCOI LLC up to $1,750,000 in conditional tax credits and up to $42,500 in training grants based on the company’s job creation plans. These incentives are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives. The city of Indianapolis supports the project in partnership with Develop Indy, a business unit of the Indy Chamber.

“Indianapolis has become a magnet for innovative tech companies, and it’s great to see local businesses grow and thrive thanks to our city’s momentum,” said Indianapolis Mayor Joe Hogsett. “CBRE’s recent Tech Thirty report ranked Indianapolis fifth for technology employment gains over the last two years, a testament to innovative companies like myCOI that choose to call Indy home. Congratulations to myCOI on their expansion!”


Tech Consulting Firm Adding High-Wage Jobs in Central Indiana 

Galvin Technologies, which helps its clients integrate the Salesforce platform into their operations, announced plans to expand its operations in central Indiana. As part of its growth, the company plans to create up to 37 new, high-wage jobs by 2022.

“Salesforce’s decision last year to dramatically grow its presence in Indiana is having an impact here beyond even the new 800 tech jobs the company is adding,” said Elaine Bedel, president of the Indiana Economic Development Corporation. “In addition to our affordable business climate and supportive business community, Salesforce’s commitment to Indiana sent a signal that Indiana is a leading tech hub and that is providing tech and Salesforce-centered companies like Galvin Technologies another motivation to pick Indiana for their growth.”

Galvin Technologies will invest $609,050 into its operations, expanding its office and investing in new technology to support its quickly-growing roster of clients throughout the Midwest. Currently functioning at capacity, the company operates at a 3,000-square-foot office at 4622 W. 72nd St. on Indianapolis’ northwest side and plans to move into a larger office in central Indiana by the beginning of next year.

The company’s growth follows Salesforce’s announcement last year that it planned to expand its regional headquarters in Indianapolis. The company, which celebrated the grand opening of Salesforce Tower Indianapolis last week, plans to add 800 new high-wage jobs over the next few years.

Galvin Technologies was founded by Gary Galvin in 2004 shortly after he moved from Chicago to Indianapolis. Originally launched as a website development company, Galvin Technologies transitioned into a full-service Salesforce integrator last year, helping companies improve their sales, operations, customer service and marketing with Salesforce’s growing platform.

“When my family moved to Indiana to pursue career growth opportunities, at the time I wasn’t too familiar with Indiana’s business environment,” said Galvin. “But after being in Indiana for a year and a half there was a clear opportunity to finally start the company and Indianapolis very quickly wrapped its arms around the business and my family, allowing us to quickly grow and thrive here.”

Galvin Technologies currently employs 12 full-time associates and is now ramping up its hiring to bring on additional Salesforce consultants, administrators and developers, as well as project managers and sales executives. These positions are expected to pay an average wage that is more than double the state average wage.

As a partner in helping its clients use cloud consulting tools to meet their business needs, Galvin Technologies serves companies when they are working to move their applications and processes onto the Salesforce platform. This service helps its clients improve their sales processes, allowing them to understand and use Salesforce to drive company projects and initiatives.

The Indiana Economic Development Corporation (IEDC) offered Galvin Technologies Inc. up to $750,000 in conditional tax credits and up to $75,000 in training grants based on the company’s job creation plans. These incentives are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives.