Salesforce seeks tax break as part of Indianapolis expansion
INDIANAPOLIS (WISH) – A new designation downtown could mean a big step forward for one company’s highly anticipated expansion in Indianapolis.
Salesforce.com Inc. has turned to Indianapolis for help as it builds a regional headquarters in the city.
The company is seeking a tax break through the City-County Council approving its properties as part of a “high-technology district.”
In May, Salesforce announced it would move into what has been known as the Chase Tower in early 2017. The building will be called Salesforce Tower Indianapolis and “Equality Tower,” according to the company’s CEO Marc Benioff.
Along with the move, Salesforce has made plans to nearly double its local workforce by adding 800 jobs over the next five years.
The expansion comes with a $28.8 million investment in new equipment which Salesforce said should make the company eligible for a property tax exemption.
The City-County Council will vote whether to approve designating Salesforce Tower and other Salesforce properties as being located in a high-tech district.
According to the Indianapolis Business Journal, the council’s Metropolitan and Economic Development Committee approved the proposal Monday night.
The paper reported the tax break would save Salesforce an estimated $3 million over a 10 year period.
The proposal moves to the full council for consideration on August 15.