EduSource, a custom software development firm, announced plans to expand its operations in Carmel, creating up to 30 new high-wage jobs by 2019.
“EduSource’s unique business model is changing the equation for software development,” said Elaine Bedel, president of the Indiana Economic Development Corporation. “By training the next generation of Indiana's tech leaders, EduSource is growing its business while actively investing in tomorrow’s Hoosier workforce, ensuring that the state is prepared to capitalize on our future as a top hub for innovation and entrepreneurship.”
The company, which uses a student apprentice model to provide an alternative to outsourcing software development overseas, is expanding rapidly to meet demand from clients who want to work with a development company that offers a common language, local time zone and cost-efficient solutions. Through an emphasis on coaching, EduSource hires a network of student apprentices who work directly with full-time senior engineers to build custom software for clients. With its model, the company has grown its revenue by 230 percent in the past year.
To support this growth, EduSource will invest $1.1 million to lease and equip a new 7,000-square-foot office in Carmel, which is slated to be more than five times larger than its current office at 9800 Association Court. With plans to be operating in the new facility by August, the company’s expanded space will allow it to focus part of its office solely on training students in custom software development.
“Indiana has a strong core of technology-focused universities – schools like Purdue University, which has had a solid reputation for engineering since the 1800s,” said Jason Beutler, founder and president of EduSource. “But you also have private schools, like Taylor University and Rose Hulman, that have incredible programs. When you couple that with a reasonable cost of living and the friendly, hardworking ethos of Hoosiers, you have an ideal base for a company that is working to equip the future.”
Founded in 2012, EduSource primarily serves contract research management organizations, financial institutions, small business management software companies and government warrant and arrest systems. The company is current hiring computer engineers, business analysts, project managers, sales associates and administrative professionals. These positions are expected to pay wages on average nearly 75 percent higher than the state average wage. Interested applicants may apply online at www.edusource.us.
The Indiana Economic Development Corporation offered Jrbeutler Inc. (dba EduSource) up to $300,00 in conditional tax credits and up to $120,000 in training grants based on the company’s job creation plans. These incentives are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives. The city of Carmel supports the project.
“The backbone of any great company consists of its employees working hard to meet the needs of their customers," said Carmel Mayor Jim Brainard. "That holds true for our city and for any company, regardless of the product. We work hard to attract a variety of high-tech, good-paying jobs and it’s encouraging to see the expansion of a company whose purpose is to ensure those new employees are as productive as possible”
EduSource’s expansion comes as Indiana grows as a leader in 21st century innovation. According to a ranking released last month by Forbes, the Indianapolis area is fifth in the nation for the cities creating the most tech jobs, with total employment at central Indiana tech companies like EduSource up 68 percent since 2006. Governor Eric J. Holcomb’s 2017 Next Level Legislative Agenda proposes accelerating this momentum across the state by making available $1 billion over the next 10 years to establish Indiana as the national capital of innovation and entrepreneurship.
About EduSource
We write custom software, but it’s why we do it that makes us interesting. We believe in humanizing technology — making the world a better place through technology. To that end, we believe strongly in youth. We hire college-age apprentices that work for us for two years during college. We also are thrilled to hire recent graduates. We are passionate about training young leaders to get them ready for the professional world. We write excellent software and the added youth keeps things innovative and energetic. For more information visit www.edusource.us.
About IEDC
The Indiana Economic Development Corporation (IEDC) leads the state of Indiana’s economic development efforts, helping businesses launch, grow and locate in the state. Governed by a 12-member board chaired by Governor Eric J. Holcomb, the IEDC manages many initiatives, including performance-based tax credits, workforce training grants, innovation and entrepreneurship resources, public infrastructure assistance, and talent attraction and retention efforts. For more information about the IEDC, visit www.iedc.in.gov.