By Geofeedia Inc. will receive up to $4.4 million in tax credits if it reaches its employment goals
A Chicago-based social media company announced it will expand its operations in Indianapolis, with plans to invest almost $3 million and add more than 300 local jobs.Geofeedia Inc., a company that gathers and analyzes social media data in real time, said it will spend $2.9 million to lease and equip a 9,200 square-foot office at Monument Circle Downtown.The company also announced it will hire 336 Hoosiers by 2020.If Geofeedia meets its employment goals, the Indiana Economic Development Corporation will offer up to $4.4 million in tax credits, the IEDC said in a press release.The company currently employs 44 full-time associates in Chicago, Indianapolis and Napes, Fla., with 20 of those working in Indianapolis.Geofeedia CEO Phil Harris cited a strong technology talent pool in Indiana and local colleges as reasons for expanding here.“With the many top-notch colleges nearby and the recent successful IPOs and acquisitions within the city’s tech sector, a strong technology talent pool has emerged in Indianapolis,” Harris said in a statement. “We expect to build an exceptional team here to help grow the business as we develop our solutions and enter new markets.”The news of the expansion comes after a tumultuous month in Indiana when prominent businesses and conventions threatened to pull operations from the state in light of the passage of the controversial “religious freedom” law.But the amendment Gov. Mike Pence signed earlier this month that said the law would not override local non-discrimination clauses that protect the LGBT community quieted some of the talks of business fleeing the state.“The entrepreneurial spirit is alive and well in Indiana,” Pence said in a statement. “That entrepreneurial spirit today is boosting a tech sector in our state that keeps adding jobs. And with Indiana adding 1,700 private sector jobs in February alone, it’s companies like Geofeedia that keep Indiana outpacing the nation in growth.”Founded in 2011, Geofeedia’s social media monitoring platform has been used at major events like the NCAA men’s basketball championship earlier this month and the 2012 London Olympics.It is also used by businesses and public safety agencies in Los Angeles, Cleveland and Detroit.Call Indianapolis Star reporter Madeline Buckley at (317) 444-6083. Follow her on Twitter: @Mabuckley88.