Indiana Gov. Eric J. Holcomb joined Carmel Mayor Jim Brainard and executives from Zotec Partners (Zotec), a provider of medical revenue cycle management solutions, as the company broke ground on a new national headquarters facility that will support future growth in Indiana for years to come. As part of its growth, Zotec plans to add up to 300 new jobs in Hamilton County by the end of 2022.
"Companies like Zotec are providing continued and sustainable growth in Indiana, creating great professional opportunities for Hoosiers," said Gov. Holcomb. "Central Indiana continues to cultivate a growing hub for tech and innovation, putting Hoosiers at the forefront of a 21st century economy and increasing our tech industry's forward momentum. I am confident that Indiana's business and tech community will enable Zotec to continue providing high-quality service to its customers."
Zotec plans to invest nearly $47 million to construct a new, five-story, 120,000-square-foot facility on the property adjacent to its current 42,000-square-foot facility at 11460 N. Meridian St. in Carmel. The new facility will include an innovation work center allowing Zotec employees to assess cutting-edge technology concepts, as well as a new training facility designed to foster learning for large groups and Zotec employees. The modernized facility will also house corporate offices, a parking garage and room for future growth. With construction already underway, Zotec expects to complete construction and move into the space by the end of 2020.
Zotec currently serves 17,000 physicians and manages 80 million medical encounters in all 50 states. To support its ever-growing client base, the company plans to scale its Indiana workforce over the next few years, bolstering its team of 850 associates nationwide, including 250 in Indiana. Interested applicants may go online for more information and a list of open positions.
"This expansion marks the company's commitment to our clients, our employees and our community," said T. Scott Law, founder and CEO of Zotec. "Zotec's people are the most valuable component of our service offering, and we are excited to give our employees an inspiring workplace with a new headquarters that feels like home to them – a place where their work is not hindered by traditional corporate walls."
Zotec is a privately-held provider of revenue cycle management and practice management solutions, managing more than 80 million medical encounters annually. The company uses proprietary technology paired with experienced service professionals to deliver measurable client results for healthcare providers nationwide. Zotec's planned expansion will allow the company to continue adapting to industry changes by inventing new technology that reduces costs and improves the patient experience.
“We are excited to join in the celebration of another corporate headquarters choosing to expand and grow its business here in Carmel,” said Mayor Jim Brainard. “We have worked hard to create a strong business environment attractive to high-tech companies, along with a high quality of life to attract a highly educated workforce. We look forward to sharing in the continued success of Zotec for many years to come."
Pending approval of the Indiana Economic Development Corporation (IEDC) board of directors, the IEDC will offer Zotec up to $4.15 million in conditional tax credits and up to $200,000 in training grants based on the company's job creation plans. These tax credits are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives. The IEDC also offered up to $500,000 to the community from the Industrial Development Grant Fund to support infrastructure improvements at the new site. The city of Carmel is considering additional incentives.