SS&C Technologies (Nasdaq:SSNC), a global provider of investment and financial software-enabled services and software, today announced it will invest nearly $4 million to open a new fund administration and technology center in Evansville, Indiana, creating up to 500 jobs by 2014.
"According to the 2010 HedgeFund.net survey, we are the fifth largest fund administrator in North America, based on assets under administration, and we plan to leverage our Evansville operations to continue growth in the alternative asset management sector," said Bill Stone, chairman and chief executive officer of SS&C Technologies. "We selected the state of Indiana and the city of Evansville based on several criteria, including the strong partnerships we have forged with the state and city, and the talent and skills available."
SS&C plans to begin hiring fund accountants and account managers, in addition to sales and operations support roles, with the anticipated opening of operations in Evansville in the second quarter of 2011.
"SS&C is a company that has continued to grow even during the challenging economic times," said Governor Mitch Daniels. "We couldn't be happier that they've chosen to bring these new high-skill positions to Evansville."
The Indiana Economic Development Corporation offered SS&C Technologies up to $8.3 million in performance-based tax credits and up to $200,000 in training grants based on the company's job creation plans. The city of Evansville will consider additional property tax abatement at the request of the Growth Alliance for Greater Evansville.
"Evansville was up against Louisville, Kentucky, Oklahoma City, Oklahoma, Springfield, Illinois, and India, for this highly-competitive project," said Mayor Jonathan Weinzapfel. "In addition to the significant capital investment, the SS&C project will further stimulate downtown redevelopment and create just the kind of high-paying, professional jobs our community needs as we head into the future."