Electric Power System Operator to Expand in Carmel Lt. Governor Becky Skillman joined executives from electricity delivery provider Midwest Independent Transmission System Operator, Inc. (Midwest ISO) to announce that it will expand its operations here, creating nearly 70 new jobs by 2014. The company, which provides electricity delivery to wholesale power customers in 13 states and the Canadian province of Manitoba, plans to invest approximately $110 million to upgrade computer equipment and software at its Carmel headquarters over the next six years. "We are aggressive in our efforts to promote Indiana as the premier location for cutting-edge organizations to locate and grow and this project is a good example of that hard work," said Skillman. "I am pleased to see Midwest ISO recognize the value Indiana offers to businesses and solidify its commitment to the state with such a significant investment." Midwest ISO, the first federally approved Regional Transmission Organization (RTO), currently employs 650 associates at its Indiana headquarters and plans to begin hiring additional engineers and technicians later this year to operate, plan and develop new technology along with the facilities that house that technology. "We have experienced tremendous growth with our business since the first day of operations. It's a true testament to the drive and dedication of our sound employee base," said John R. Bear, president and chief executive officer at the Midwest ISO. "We are proud that in tough economic times, we are creating new jobs, adding to Indiana's high-tech workforce; and, in doing so are recruiting the best and brightest minds from the state's colleges and universities. We are pleased with the support that we receive from Indiana and the city of Carmel as we meet and exceed our business goals. In all areas, we are truly powerful partners." The Indiana Economic Development Corporation offered Midwest ISO up to $1.1 million in performance-based incentive payments and up to $219,000 in training grants based on the company's job creation plans. The city of Carmel will provide a ten-year property tax abatement for any new facilities constructed in Carmel. "We are proud Midwest ISO is a member of our corporate community and we are extremely pleased that the company has decided that Carmel is the best place to grow their business," said Carmel Mayor Jim Brainard. "The high tech job opportunities offered at Midwest ISO are a good match for our highly educated workforce." Midwest ISO's announcement is the latest IT expansion in Carmel. In July, technology developer and supplier Telamon Corp. announced it would expand its international headquarters creating nearly 250 jobs by 2012. About Midwest ISO The Midwest ISO is dedicated to the reliable operation of, and equal access to, 93,600 miles of interconnected, high-voltage power lines in 13 U.S. states and the Canadian province of Manitoba. The Midwest ISO manages one of the world's largest energy markets, clearing over $43 billion in energy transactions in 2008. The Midwest ISO was approved as the nation's first Regional Transmission Organization (RTO) in 2001. The non-profit 501(C)(4) organization is governed by an independent Board of Directors, and is headquartered in Carmel, Indiana with operations centers in Carmel and St. Paul, Minnesota. Membership in the organization is voluntary. For more information, visit www.midwestmarket.org . 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 Mitch Roob serves as the chief executive officer of the IEDC. For more information about IEDC, visit www.iedc.in.gov
