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By Tim Monger on May 25, 2016

A unit of Connecticut-based Stanley Black & Decker Inc., Stanley Convergent Security Solutions designs, installs, monitors and services security systems for industrial, government, commercial and residential customers. All told, the parent company’s Security business—which also includes Stanley Mechanical Access Solutions—reported annual revenue of $2.1 billion in 2015. That represented 19 percent of Stanley Black & Decker’s total revenue.

Stanley CSS has more than 75 offices serving 120 of the largest metropolitan markets in North America, and this year agreed to base operations in a $15.9 million headquarters being built in the burgeoning Hamilton County community of Fishers.

The company will lease the three-story, 80,000-square-foot building in the brand-new Fishers Point Business Park, located east of Interstate 69 between 96th and 106th streets. Ambrose Property Group LLC is handling construction, and the property is large enough to accommodate a building addition if growth exceeds Stanley CSS’s expectations.
                                               
The project keeps 165 corporate-office jobs in Fishers and provides space for another 155 employees to join them by March 2024. Together, the 320 jobs will pay an average of $62,000 a year. Some of the additional positions will be moving from Noblesville and Naperville, Ill., as the company consolidates operations.

Stanley CSS began the site-selection process after outgrowing its leased space in a multi-tenant office building on the other side of I-69 in Fishers. Executives also seriously considered moving into half of an existing building in Indianapolis.

Although that option was less expensive, consultant Jay Walters of FairWinds Advisors said decision-makers were impressed by Fishers’ efforts to transform the onetime bedroom community into a vibrant, entrepreneurial city.

The Stanley Security HQ is the first building slated the Fishers Point Business Park, but the city has high hopes for the area. Sun King Brewing is planning a brewery and tasting room across the street, and construction on a new I-69 interchange at 106th Street is under way. Fishers also plans to build trails connecting the development to downtown and beyond.

The offer of financial incentives also helped Fishers win out. The city has agreed to a 10-year real property tax abatement on the new HQ, forgiving 100 percent of the tax obligation for the first eight years and 75 percent in the final two years. It also will waive local development and impact fees for 24 months. Together, the local incentives are worth an estimated $2.1 million.

Stanley locked up incentives for its statewide job growth in 2012, when the Indiana Economic Development Corp. agreed to provide more than $1.5 million in EDGE tax credits and $275,000 in training grants as the company adds positions.

As executives looked for a headquarters location, they embraced the idea of having a stand-alone building that could showcase Stanley security products throughout—creating an immersive “showroom” of sorts that will demonstrate its latest technology.

Stanley CSS began discussions with economic development leaders in Fishers last fall, and City Council approved the incentives in March. The company must have 165 employees in the new building by March 2018, according to the agreement, but officials hope to move in sooner.

One of two new headquarters announced at Mayor Scott Fadness’ State of the City speech in February, the Stanley project is a great fit for the I-69 corridor, which city officials hope will become a hub for corporate offices.

Economic development is a priority for the growing community, and it shows.

“We are aggressive and creative and fast,” said Megan Baumgartner, Fishers’ assistant director of economic development. “That sets us apart from a lot of cities and counties.”

Categories: "Case Studies", "City of Fishers", "Economic Development", Headquarters, "Stanley Security Solutions"