Innovation in Indy
Product Development Business Adding Innovation-Focused Jobs in Downtown Indy
INDIANAPOLIS (Sept. 19, 2016) – Glassboard, a physical product development company that helps clients develop concepts into ready-to-manufacture products, announced plans today to expand its operations here, creating up to 36 new high-wage jobs by 2020.
“Indiana is the nation’s manufacturing leader, which extends beyond just being home to the highest concentration of manufacturing jobs in the nation. Hoosiers at companies like Glassboard are also the innovators and engineers behind the development of products we use daily, helping turn ideas into reality,” said Governor Mike Pence. “As a state, we are committed to helping companies like Glassboard multiply and grow through our plan to invest $1 billion over the next 10 years toward innovation and entrepreneurship in Indiana. Hoosier entrepreneurs need support and resources to grow their businesses, and we’re dedicated to making sure they find that support here in Indiana.”
The homegrown Hoosier company will invest more than $850,000 to lease and equip its 3,000-square-foot office at 924 N. Pennsylvania St. in downtown Indianapolis and plans to expand its office space as its team continues to grow over the next four years. Glassboard is growing rapidly with the addition of multiple clients each month, which has earned the company a 50 percent increase in revenue each quarter over the last nine months. Glassboard helps clients throughout the nation develop their ideas into products, currently serving companies across Indiana, Oregon, Pennsylvania, Texas and New York.
Glassboard is now hiring top-level talent for management and engineering-related positions to expand its team, which currently includes five Hoosiers. On average, new positions are expected to pay wages more than 50 percent higher than the state average wage. Interested applicants may apply by sending a resume to email@example.com.
“Our team is incredibly invested in the Indianapolis area, so we’re excited to build upon the success we’ve already experienced in the product development industry right here in our home state,” said Randy Parmerlee, chief executive officer at Glassboard. “The new talent we’re seeking to hire will give us the momentum we need to continue growing at a sustainable yet rapid rate. We’re grateful to the Indiana Economic Development Corporation for their support in helping us achieve our ambitious goals.”
Founded in 2015, Glassboard is a product design firm that works with new companies and brands to design products, services and processes. The team works directly with clients to turn ideas into working prototypes, which later become marketable products. The company is led by Randy Parmerlee, a board-level design expert who has experience designing solutions for companies including Fishers-based Recovery Force and Indianapolis-based DoubleMap, and Grant Chapman, a systems engineer and program manager specializing in mechanical design, who serves as the company’s vice president of operations. Wade Cunningham, a former IndyCar Series competitor and Indianapolis 500 driver, works as a program manager for the company, helping clients with automotive and motorsports safety projects.
The Indiana Economic Development Corporation offered Glassboard LLC up to $340,000 in conditional tax credits and up to $40,000 in training grants based on the company’s job creation plans. These tax credits are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives. The city of Indianapolis supports the project in partnership with Develop Indy, a business unit of the Indy Chamber.
“Indianapolis is fortunate to have companies like Glassboard which are helping design and manufacture the products of the future,” said Indianapolis Mayor Joe Hogsett. “From entrepreneurs who need a working prototype, to advice from experts in product development, Indianapolis’ booming advanced manufacturing sector has a tremendous resource in its own backyard. We congratulate Glassboard on their success and look forward to seeing the ideas of tomorrow become a reality in our city.”
Glassboard is the latest innovation-centric company to pick Indiana to expand its operations. In July, Governor Pence announced a plan to invest $1 billion into innovation and entrepreneurship in the state over the next 10 years. Through the initiative, Indiana will work to strengthen and accelerate Hoosier innovation by supporting entrepreneurial cultures and investment in co-working spaces. With the growth of these entrepreneurial companies, Indiana has added nearly 150,000 private sector jobs since 2013.