Kinetic Advantage (Kinetic), a newly-created automotive floorplan financing company, announced plans today to scale its operations in central Indiana, expanding the company’s new headquarters in Carmel. To support its growth, Kinetic, which has already added 65 new Indiana positions since July 2020, plans to continue growing its team by creating up to an additional 225 new jobs over the next few years.
"With Indiana’s best in the Midwest ranking for entrepreneur friendliness, we're committed to providing the business-friendly environment and skilled workforce that companies like Kinetic need to grow operations," said Governor Eric J. Holcomb. "Kinetic's rapid growth, even during the pandemic, is impressive, and we're grateful for the quality career opportunities that the company is creating for Hoosiers."
The company, which currently operates out of 24,500 square feet of office space at 10333 N. Meridian in Carmel, plans to invest more than $4 million to expand its new headquarters, leasing and equipping an additional 34,200 square feet in the same building. The additional upgraded space will allow Kinetic to grow its client base and continue providing technology-driven solutions to independent automotive dealers across the U.S. The company plans have the expanded space fully operational by April 2021.
The Indiana Economic Development Corporation offered Kinetic Advantage up to $5 million in conditional tax credits based on the company’s plans to create up to 273 jobs by the end of 2024. These tax credits are performance-based, meaning the company is eligible to claim incentives once Hoosiers are hired. The city of Carmel supports the project.