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By Tim Monger on December 15, 2016

Indiana’s tallest office building will be one of only four towers in the world to bear Salesforce name

The new year will bring a new name to 111 Monument Circle in downtown Indianapolis, as Salesforce.com establishes a regional headquarters in the 48-story tower.

San Francisco-based Salesforce, which acquired Indy-grown email marketing firm ExactTarget for $2.5 billion in 2013, plans to invest more than $40 million in its local operations over the next decade—an expansion that includes adding 800 jobs by 2021. It already has about 1,400 employees in three downtown buildings.

If Salesforce meets its hiring goals, the tech firm could receive $17.2 million in state tax credits and $750,000 in training grants. Indianapolis will provide a 10-year personal property tax abatement on nearly $30 million of new equipment.

The software company said in May that it would lease about 200,000 square feet in the building now known as Chase Tower. It will be rechristened Salesforce Tower Indianapolis in 2017, when workers start arriving.

They’ll be in good company. As Indianapolis Business Journal reported [http://www.ibj.com/articles/58775-indys-circle-of-innovation] earlier this year, about 50 tech-related firms operate in the city’s Central Business District. More than half are within a quarter-mile of Salesforce’s new home on Monument Circle.

Office vacancy rates have dropped downtown as Indianapolis’ tech scene has grown. Cushman & Wakefield reports that more than 560,000 of new office space is under construction in Metro Indy.

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