Nand Kishor is the Product Manager of House of Bots. After finishing his studies in computer science, he ideated & re-launched Real Estate Business Intelligence Tool, where he created one of the leading Business Intelligence Tool for property price analysis in 2012. He also writes, research and sharing knowledge about Artificial Intelligence (AI), Machine Learning (ML), Data Science, Big Data, Python Language etc... ...Full Bio
Nand Kishor is the Product Manager of House of Bots. After finishing his studies in computer science, he ideated & re-launched Real Estate Business Intelligence Tool, where he created one of the leading Business Intelligence Tool for property price analysis in 2012. He also writes, research and sharing knowledge about Artificial Intelligence (AI), Machine Learning (ML), Data Science, Big Data, Python Language etc...
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Indiana rolls out red carpet for Indian IT companies, offers big incentive packages to Infosys
States in the US are looking to roll out the red carpet for Indian IT services companies, with Indiana offering as much as $31 million in incentives to Infosys as it looks to drum up jobs in the sector.
The state plans to woo more Indian IT companies, which need to boost local hires given the political sensitivity over H-1B visas and immigration under President Donald Trump. The incentives being dangled - mostly in the form of tax abatements and one-time grants - are financed by development funds created by most US states.
Indiana is offering Infosys one of the largest incentive packages it has ever handed out, more than covering the company's cost of setting up its centre. Infosys said it will spend about $8.7 million to lease and equip its office space in the state. Indiana's incentives are in the form of conditional tax grants and training grants.
"States, cities and counties can all offer incentives. The idea is to pick places that offer incentives and has a local college network that can provide talent that is cost-effective and can be trained. We aren't going to be hiring from Stanford or MIT," an IT executive told ET.
The Infosys deal took a few months to hammer out, Indiana governor Eric Holcomb said in a statement. Holcomb is also planning a trip to India to sell his state to other IT companies, he said. The Indiana Economic Development Corporation plans to offer up to $15,250 in conditional tax credits for each job the company creates and up to $500,000 in training grants.
If the company hires all planned 2,000 workers, the maximum total incentives from the state would be $31million. A second IT executive said companies were talking to states where they already have an outpost such as Texas to negotiate incentives to expand there. Companies like L&T Infotech have said they would look to boost their headcount in the tri-state area, which includes New York, New Jersey and Connecticut.
"Midwest states are generally more aggressive in holding out incentives because they haven't seen the kind of job creation that states like New York and California have," said Ganesh Natarajan, chairman of skill development platform 5F World.
"So this is typically a negotiation - if you can say you will bring 1,000 jobs to that city, then you can have a good standing," said Natarajan, the former CEO of Zensar Technologies. Read More