IoT Technology Firm Mesh Systems Expands Headquarters in Hamilton County
CARMEL, Ind. (April 11, 2014) – Mesh Systems LLC, a technology firm in the “Internet of Things” (IoT) industry, announced plans today to expand its operations here, creating up to 40 new jobs by 2017.
“Indiana’s homegrown companies understand the benefits they gain here as part of our Hoosier economy,” said Eric Doden, president of the Indiana Economic Development Corporation. “And with a state unemployment rate consistently below our neighbors, companies like Mesh Systems are taking advantage of Indiana’s low tax environment to grow their operations and put more Hoosiers to work.”
Mesh Systems’ products and technology connect everyday objects such as street lights, water heaters and coffee machines to a cloud-based software platform and application suite. Serving clients including Fortune 50 global industry leaders, the company was recently recognized for the second year in a row by Connected World Magazine as one of the world's top 100 companies creating and driving the IoT, referred to as Machine-to-Machine communications or simply M2M. Mesh Systems joins other companies included in the list such as Microsoft, Cisco Systems, Google, IBM and Verizon Wireless.
"According to industry analysts, the value of the IoT marketplace will grow to more than $1 trillion dollars by 2020,” said Doug Brune, chief operating officer and co-founder of Mesh Systems. "Working in partnership with the state of Indiana, we are committed to capturing a disproportionate share of that value for the state of Indiana. Expansion here in Indiana allows us to draw from an exceptional pool of talent, critical to the continued growth and success of Mesh Systems.”
The Indiana Economic Development Corporation offered Mesh Systems, LLC up to $535,000 in conditional tax credits and up to $65,000 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 city of Carmel supports the project.
“The news today from one of our home-grown high-tech companies is good for Carmel and affirmation that high-tech job growth is not all about Silicon Valley anymore,” said Carmel Mayor Jim Brainard. “Last year, a Forbes Magazine survey ranked the Indianapolis-Carmel area the ninth fastest-growing area when it comes to the creation of jobs in the technology sector. We congratulate Mesh Systems on this expansion and look forward to your continued success.”
Since July 2009, Indiana has had the seventh fastest growing private sector in the nation. In February, Indiana’s unemployment rate dropped to 6.1 percent, continuing a downward trend in the rate for the state.
About Mesh Systems
Mesh Systems is an industry leading Internet of Things/Machine-to-Machine solutions company serving original equipment manufacturer customers across a wide variety of industries and applications. The Company’s MeshVista Hydra™ cloud-based software platform is a best-in-class framework for providing low-latency and highly scalable device-to-cloud and cloud-to-device information exchange and control actions across wired, wireless and hybrid networks. Operating in a number of vertical industries, the company provides a turn-key solution to its customers looking for speed-to-market with their connected product or service. Its connection of devices, data, people, and processes is transforming how businesses operate, leading to increased operating efficiency, enhanced customer service and energy conservation.
For more information about Mesh Systems, visit www.mesh-systems.com.
Created in 2005 to replace the former Department of Commerce, the Indiana Economic Development Corporation is governed by a 12-member board chaired by Governor Mike Pence. Victor Smith serves as the Indiana Secretary of Commerce and Eric Doden is the president of the IEDC.
The IEDC oversees programs enacted by the General Assembly including tax credits, workforce training grants and public infrastructure assistance. All tax credits are performance-based. Therefore, companies must first invest in Indiana through job creation or capital investment before incentives are paid. A company who does not meet its full projections only receives a percentage of the incentives proportional to its actual investment. For more information about IEDC, visit www.iedc.in.gov [News release]