IN: Cable Maker to Grow Its Headquarters in Carmel
19 Aug, 2011
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Belden, Inc. (NYSE: BDC), a manufacturer of signal transmission products, announced plans today to expand its operations here, creating up to 40 new jobs by 2014.
The Missouri-based company, which designs, manufactures and markets cable, connectivity and networking products, plans to invest more than $3.1 million to expand its executive headquarters for its Americas division through the leasing and equipping of a new 30,000-square-foot facility in Carmel.
"The growth of existing companies is paramount to Indiana's economic success," said Mitch Roob, Secretary of Commerce and chief executive officer of the Indiana Economic Development Corporation. "Our competitive business climate combined with Belden's continued commitment to our state has made for another successful outcome for Hoosiers."
Belden employs approximately 6,600 associates globally, including 39 employees in Carmel. The company will begin hiring the additional 40 headquarter associates, including human resources, finance and customer support, this year.
"Belden is pleased to receive the support of the state of Indiana and the city of Carmel for its growth plan in the Indianapolis area," said Denis Suggs, executive vice president, Americas Operations and Global Cable Products at Belden. "The business environment in Indiana is tremendous and we are proud to employ over 800 Indiana residents."
Incorporated in 2004 through the merger of Belden, Inc. and Cable Design Technologies Corp., Belden operates globally with more than 50 office locations. The Americas division headquartered in Carmel represents more than half of the company's $1.7 billion revenue in 2010.
The Indiana Economic Development Corporation offered Belden, Inc. up to $750,000 in performance-based tax credits based on the company's job creation plans. The city of Carmel will consider additional property tax abatement.
"I am very pleased that Belden has been able to expand in Carmel. We work hard to provide an environment where businesses can thrive," said Carmel Mayor Jim Brainard. "It is especially important, as our nation's economy struggles, to continue providing business expansion and new job opportunities such as Belden is doing."
Belden's announced plans to expand its headquarters in Carmel comes on the heels of announcements from several other companies in nearby Indianapolis this week. Collectively, Angie's List, Old Dominion Freight Line and Belden have committed to create more than 700 new jobs and invest nearly $37 million in central Indiana over the next few years.
St. Louis-based Belden Inc. designs, manufactures, and markets cable, connectivity, and networking products in markets including industrial automation, enterprise, transportation, infrastructure, and consumer electronics. It has approximately 6,900 employees, and provides value for industrial automation, enterprise, education, healthcare, entertainment and broadcast, sound and security, transportation, infrastructure, consumer electronics and other industries. Belden has manufacturing capabilities in North America, Europe, and Asia, and a market presence in nearly every region of the world. Belden was founded in 1902, and today is a leader with some of the strongest brands in the signal transmission industry. For more information, visit www.belden.com.
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. Mitch Roob serves as the chief executive officer of the IEDC. For more information about IEDC, visit www.iedc.in.gov.