A company that helps manufacturers improve their production is expanding its Fishers headquarters and anticipates hiring 250 more people in Indiana.
Stratosphere Quality said it will invest $3.7 million to update its 46,000-square-foot headquarters at 12024 Exit Five Parkway. The quality assurance company will build break rooms and office space and increase employee training.
The new jobs are expected by 2020. Stratosphere employs nearly 600 Hoosiers and 2,200 people in North America.
The Indiana Economic Development Corporation is providing Stratosphere up to $800,000 in tax credits and $200,000 in training grants based on the company’s jobs plan. Until the workers are hired, the company is not eligible for the incentives, the IEDC said in a news release.
More new jobs:Start-up expanding in Fishers
“Indiana is a great place for a growing company, and is home to a friendly business environment with a good pool of talented workers,” Tom Gray, chief executive officer of Stratosphere, said in a prepared statement.
Stratosphere helps parts manufacturers in the automotive, medical and large equipment industries spot quality problems and minimize defects to increase efficiency and reduce costs.
It’s the second major expansion for Stratosphere. In 2012, the company invested $2.6 million into its Fishers headquarters. The company was founded in 2009. From 2012 to 2015, revenues rose by 40 percent and now the company generates $100 million per year.
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