KAR Auction Services will be building a new 250,000-square-foot corporate headquarters on a 13-acre campus in Carmel, Ind.
KAR, which announced the roughly $80 million project Tuesday afternoon, said the new facilities will have space for an additional 400 jobs.
Of its 17,400 employees, KAR said close to 1,600 are located in Indiana.
The company, which has been in central Indiana for close to 30 years, has 10 auctions and offices throughout the state, which are part of hundreds of locations throughout the world.
“We want to give our employees a workplace that reflects our entrepreneurial culture and inspires them to create and innovate the moment they walk through the door,” said KAR chairman and chief executive officer Jim Hallett, in a news release.
“The new campus will give us the additional space necessary to increase our workforce as we expand our global footprint. And it will help our company, the city and the state attract and retain some of North America’s best and brightest talent.”
The company plans to break ground on construction on the new campus and headquarters — which will be located 2 miles from its current facilities — early next year. KAR is targeting the second half of 2019 as a move-in date.
KAR’s innovation, technology and data-as-a-service divisions will be housed at the new headquarters, and the TradeRev subsidiary will also have its US headquarters there.
“I'm excited to celebrate KAR Auction Services’ continued commitment to growing its global footprint in Indiana,” Indiana Gov. Eric Holcomb said in a news release. “Businesses from across the world recognize our state's business-friendly environment, robust talent pipeline and reputation as the technology hub of the Midwest. We'll continue taking Indiana to the next level, ensuring we're the best place to grow jobs and a business.”
Carmel Mayor Jim Brainard added: “It is very exciting to see another corporate headquarters built along our rapidly growing Meridian street corridor. The city of Carmel has worked hard to foster a strong business climate focused on our quality-of-life strategies and keeping our local property taxes among the lowest in the state.
“Today's announcement by KAR is evidence that Carmel is taking the right steps to create jobs and attract major private investments. We look forward to watching KAR grow and succeed in Carmel.”