AXISCADES to set up office in Indiana, create 500 engg jobs
Bengaluru-based AXISCADES today said it will set up its North American headquarters in Indiana, a move that will create 500 engineering jobs by 2023.
Indiana, which is the home state of US Vice President Mike Pence, also hosts one of Infosys' four innovation centres in the US.
AXISCADES, in a statement said it also plans to invest up to USD 10 million over the next five years to establish the operations in Indiana.
"This will enhance the company's US presence, and create 500 high-wage engineering jobs by the end of 2023," it added.
The announcement was made in the presence of Eric J Holcomb, Governor of Indiana State, US, who was hosted by AXISCADES at its Bengaluru facility.
In May this year, Infosys - India's second largest IT firm - had said it will set up an innovation centre in Indiana for new technologies like artificial intelligence (AI) and machine learning. The centre is expected to create 2,000 jobs for American workers by 2021.
The move was seen as an attempt to woo the Donald Trump administration that has been critical of outsourcing firms for unfairly taking jobs away from US workers.
AXISCADES said it has shortlisted possible sites in Indiana to locate the new facility and will make the final decision by the end of this year. It will launch operations in Indiana by April, 2018.
"This is part of our strategic initiatives to continuously evolve and invest in expanding across North America and to provide high-end technology solutions," AXISCADES Vice Chairman Sudhakar Gande said.
The company provides product engineering solutions to aerospace, defence, heavy engineering, automotive, energy, medical and health care companies.
AXISCADES employs over 1,900 people across the globe, including about 250 engineers in North America.
Pending approval from the Indiana Economic Development Corporation (IEDC) board of directors, the IEDC offered AXISCADES up to USD 4.3 million in conditional tax credits and up to USD 500,000 in training grants based on the company's job creation plans.
The company will also be eligible for state's Industrial Development Grant Fund to support infrastructure needs, the statement said.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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