INDIANAPOLIS (Nov. 12, 2008) - National debt recovery agency Premiere Credit of North America announced plans today to expand its national headquarters here, more than doubling its 250-person workforce.
The firm, which specializes in recovering unpaid government debt, plans to invest more than $4 million to expand its eastside headquarters and to locate a second operations center at a yet-to-be-announced site in Indianapolis.
"Even in tough economic times, Indiana continues to be a smart place for companies like Premiere Credit to grow. Our low cost of doing business, unmatched infrastructure and aggressive pursuit of new jobs is helping us stand out against our competition," said Governor Mitch Daniels.
Founded in 1999, Premiere Credit will begin hiring collection staff, skip tracers, team leaders and managers immediately. The company expects the project to result in the creation of more than 300 new jobs over the next several years. Recruiting for the new positions will begin immediately online at http://www.mypremierejobs.com/ and will provide outreach to military veterans as part of its recruiting efforts.
"Premiere considers itself a best-in-class provider of debt recovery services and needed to find a best-in-class community to grow," said David Hoeft, co-founder and chief executive officer of Premiere Credit of North America. "After an exhaustive search of more than 100 sites across the country, we found that community was right here in Indiana. Our past success with workforce and operational issues locally, as well as the support we received from Governor Daniels and Mayor Greg Ballard's administration, tipped an extremely difficult decision in Indianapolis' favor."
Recognized for its growth by Inc. Magazine and the Indiana Companies to Watch program, Premiere Credit of North America manages the collection of more than 700,000 accounts on behalf of clients across the nation, with values exceeding $1 billion.
The Indiana Economic Development Corporation offered Premiere Credit of North America up to $2.5 million in performance-based tax credits and up to $200,000 in training grants based on the company's job creation plans. The city of Indianapolis and Indianapolis Economic Development, Inc. will support property tax abatement for the company before the Metropolitan Development Commission.
"Premiere Credit is a good corporate citizen in Indianapolis, and I am pleased they have chosen to grow within our community," said Mayor Greg Ballard. "As they looked at their options, it was clear that they could locate their expansion in any number of other communities. Attracting jobs to Indianapolis is my priority, so we worked hard to make sure this expansion could occur here."
The news of Premiere Credit of North America expanding in Indiana comes only days after national economic development magazine Site Selection named Indiana's business climate the fifth best in the nation. The accolade is the latest in a series of awards garnered by the Hoosier state that includes national news giant CNBC calling the state "the most improved state for business" and Chief Executive magazine naming Indiana a "best place for business".
About Premiere Credit of North America LLC
Premiere Credit of North America LLC is a national debt recovery agency specializing in defaulted student loans and government debt. Headquartered in Indianapolis, the firm manages portfolios valued in excess of $1 billion, representing more than 700,000 accounts. Its client base ranges from $100,000 portfolios up to multi-hundred-million-dollar portfolios. For more information about Premiere Credit of North America LLC, visit http://www.premierecredit.com/.
About IEDC
Created by Governor Mitch Daniels in 2005 to replace the former Department of Commerce, the Indiana Economic Development Corporation is governed by a 12-member board chaired by Governor Daniels. Indiana Secretary of Commerce Nathan Feltman serves as the chief executive officer of the IEDC. Since Daniels created the IEDC, the state has posted three consecutive years of record-breaking commitments for new jobs. For more information about IEDC, visit http://www.iedc.in.gov/ .
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Media Contacts:
Beverly Phillips (Premiere Credit) - 317.627.6746
Mitch Frazier (IEDC) - 317.232.8873
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