Indian company plans North American headquarters in Indiana

INDIANAPOLIS (AP) - Officials say an India-based engineering company plans to locate its North American headquarters in Indiana.

The announcement Thursday from Indiana Gov. Eric Holcomb says AXISCADES will create up to 500 jobs by the end of 2023 as part of the effort. Word of the investment comes as Holcomb participates in a trade mission to India.

Officials say AXISCADES plans to invest nearly $10 million over five years to establish operations in Indiana. The company already has U.S. operations and provides engineering work for industries including aerospace, defense, automotive, energy and health care.

The Indiana Economic Development Corp. plans to offer up to $4.3 million in conditional tax credits and up to $500,000 in training grants.

A decision is expected this year on an Indiana location for the North American headquarters.