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Engineering Firm to Expand Its Headquarters, Development Center in Indianapolis


INDIANAPOLIS (July 18, 2008) - High-tech equipment designer Jarrett Engineering announced today it will expand its headquarters and engineering center here, creating nearly 40 new jobs by 2012.

The company, which designs advanced manufacturing equipment and processes for manufacturers in the automotive, aerospace and pharmaceuticals industries, will invest more than $1.3 million to expand its engineering services and headquarters into an adjacent 7,000 square-feet of existing space at its 1011 North Pennsylvania Avenue facility.

"Jarrett Engineering is creating the kinds of high-tech jobs that contribute to our economic comeback. We're glad to see the company continuing to grow and investing in Indiana," said Governor Mitch Daniels.

Founded in 1962, Jarrett Engineering currently employs 40 associates at its downtown offices and will begin hiring additional design and engineering associates this summer to accommodate an increase in demand.

"In partnering with the IEDC, and being made aware of the opportunities available through them, Jarrett Engineering can continue our support of manufacturing and advance the field of mechanical engineering and design in this area," said Gregory Day, owner of Jarrett Engineering.

The Indiana Economic Development Corporation offered Jarrett Engineering up to $165,000 in performance-based tax credits and $60,000 in training grants based on the company's job creation plans. The City of Indianapolis will consider property tax abatement at the request of Indianapolis Economic Development Inc.

"This is another great announcement for the City of Indianapolis as we work to bring high-tech, high-paying jobs to Marion County," said Mayor Greg Ballard. "This is one more sign that Indianapolis is open for business and a great environment to create jobs."

Indiana's manufacturing industry was rated sixth in the nation and given an overall "A" grade, the highest ranking in the Midwest, according to Conexus Indiana's 2008 National Manufacturing and Logistics Report Card,. The report concluded that Indiana's manufacturing and logistics industries are "healthy vibrant and growing."

About Jarrett Engineering

Founded in 1962, Jarrett Engineering is a full- service mechanical engineering firm, providing tool and machine design services to major manufacturers in the automotive, aerospace and pharmaceuticals industries. Located in downtown Indianapolis, Jarrett Engineering operates out of 15,500 square feet of design and development space.

About IEDC

Created by Governor Mitch Daniels in 2005 to replace the former Department of Commerce, the Indiana Economic Development Corporation is governed by a 12-member board chaired by Governor Daniels. Indiana Secretary of Commerce Nathan Feltman serves as the chief executive officer of the IEDC. Since Daniels created the IEDC, the state has posted three consecutive years of record-breaking commitments for new jobs.

For more information about IEDC, visit www.iedc.in.gov.

Media Contacts:
John Caress (Jarrett)
317.472.9486
or john.h.caress@jarretteng.com

Mitch Frazier (IEDC)
317.232.8873
or MFrazier@iedc.in.gov

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