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[IEDC] Global Power Company Picks Indianapolis for U.S. Business Unit Headquarters
Start Date: 6/14/2013Start Time: 12:00 AM
End Date: 6/14/2013End Time: 11:59 PM
Entry Description
INDIANAPOLIS (June 14, 2013) - Governor Mike Pence joined executives from AES Corporation (NYSE: AES), the parent company of Indianapolis Power & Light Company (IPL), today to announce the company's plans to locate its U.S. business unit headquarters here, creating up to 100 high-wage jobs by the end of 2014.

The company, one of the world's largest independent power producers, will invest approximately $1.2 million to align its U.S. operations support in Indianapolis. The 21 AES businesses across the country will transition to operate as one strategic business unit, housed at IPL's existing headquarters at the Electric Building on Monument Circle.

"We are proud that a global company like AES has chosen Indiana as its hub for all U.S. operations," said Pence. "Indiana's unmatched business climate, central location and strong workforce continue to set us apart and make our state the best place for companies to expand and more effectively run their business."

AES, which currently has 25,000 associates globally, including 3,600 employees in the United States, will immediately begin filling new positions across the company. Interested candidates can apply at www.aes.com

"This decision demonstrates AES' commitment to Indiana," said Ken Zagzebski, the new president of AES' U.S. strategic business unit and chief executive officer of IPL. "AES decided to expand here primarily due to the excellent business and regulatory climate we have in the state."

Founded in 1981, AES provides sustainable energy to 23 countries through a diverse portfolio of distribution and generation businesses. The Fortune 200 global power company has 2,400 MW of power plants under development in eight countries.

The Indiana Economic Development Corporation offered AES Corporation up to $2,750,000 in conditional tax credits and up to $87,500 in training grants based on the company's job creation plans. These tax credits are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives. The city of Indianapolis supports the project at the request of Develop Indy, a business unit of the Indy Chamber.

"IPL has always been a valued partner in our community and we welcome its parent company's expanded presence in Indianapolis," said Indianapolis Mayor Greg Ballard. "Our community will benefit from AES' commitment to bring high-wage job opportunities to our skilled workforce."

About AES
The AES Corporation (NYSE: AES) is a Fortune 200 global power company. AES provides affordable, sustainable energy to 23 countries through its diverse portfolio of distribution businesses as well as thermal and renewable generation facilities. AES's workforce of 25,000 people is committed to operational excellence and meeting the world's changing power needs. AES's 2012 revenues were $18 billion and AES owns and manages $42 billion in total assets.

About IEDC
Created in 2005 to replace the former Department of Commerce, the Indiana Economic Development Corporation is governed by a 12-member board chaired by Governor Mike Pence. Victor Smith serves as the Indiana Secretary of Commerce and Eric Doden is the president of the IEDC. 

The IEDC oversees programs enacted by the General Assembly including tax credits, workforce training grants and public infrastructure assistance. All tax credits are performance-based. Therefore, companies must first invest in Indiana through job creation or capital investment before incentives are paid. A company who does not meet its full projections only receives a percentage of the incentives proportional to its actual investment. For more information about IEDC, visit www.iedc.in.gov.

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Media Contacts: 
Greg Fennig (IPL) - 317.261.8299 or greg.fennig@aes.com 
Katelyn Hancock (IEDC) - 317.234.2294 or kahancock@iedc.in.gov
Contact Information:
Name: Katelyn Hancock
Phone: 317-234-2294
Email: kahancock@iedc.in.gov
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Entry Type:
Press Release
Entry Category:
  • Announcements
  • IN.gov Category:
  • Business & Agriculture
  • Agency Name
    Economic Development Corporation, Indiana

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