Muncie Announces Sallie Mae Expansion Adding 200 New Local Jobs
(Muncie, IN – July 27, 2012) Local government and business leaders joined Sallie Mae officials in announcing a major expansion of the Muncie customer service center. Sallie Mae, the nation’s No. 1 financial services company specializing in education, will add 200 new jobs and invest as much as $5 million in real estate improvements and technology. A 20,200-square foot building expansion will provide work space to raise Sallie Mae’s employment level in Muncie to 900 employees with over $30 million in annual payroll. The expanded facility located in Muncie’s Airpark Industrial Park will be nearly 75,000 square feet.
“Today’s job announcement is fantastic news for the City of Muncie and Delaware County,” said Mayor Dennis Tyler. “Sallie Mae’s continued investment in our community is a testimonial to Muncie as a place to do business and the quality of the workforce here,” added Mayor Tyler.
“Muncie’s talented, dedicated workforce delivers results, and the community is welcoming to business, so we’re delighted to continue growing with you,” said Jon Kroehler, senior vice president, Sallie Mae. “The state of Indiana has been good for Sallie Mae; in fact we’re proud to say that our largest group of employees is made up of Hoosiers.” The new positions will support the company’s customer service operations.
Under the terms of the proposed agreement with the City of Muncie, Sallie Mae will hire 200 new employees in the first year after completion of the building addition, scheduled for summer 2013. Those jobs, in addition to the committed 700 jobs, are pledged to remain in place until at least the end of 2024. Compensation for employees with one or more years of tenure will average approximately $37,000. Sallie Mae also provides a generous benefit package that includes health insurance, vacation, 401(k), stock options, disability insurance and more.
“When we see existing businesses like Sallie Mae choose to grow and continue doing business in Muncie-Delaware County, we know we are doing the right things to encourage economic development. We celebrate the company’s decision to invest and create new jobs in Muncie,” said Todd Donati, President of the Delaware County Commissioners.
“We know Sallie Mae had many options to grow their operations in other parts of the country or internationally and we are grateful they chose Muncie,” added Jay Julian, President and CEO of the Muncie-Delaware County Chamber of Commerce. “Muncie-Delaware County knows the importance of existing businesses. Business retention and expansion is a top component of our community economic development initiative,” noted Julian.
Sallie Mae opened its Muncie location in 2006 in the former “Airpark” shell building on Superior Drive and has grown into one of Muncie’s largest employers. Charitable contributions from employee fundraising as well as The Sallie Mae Fund, a philanthropic organization sponsored by the company, have totaled more than $500,000 in support of education and community programs.
“Nationally it has been reported that eighty percent of new job growth comes from existing business and today’s announcement is further evidence of that belief,” said Terry Murphy, Vice President, Economic Development for the Muncie-Delaware County Economic Development Alliance.
The Muncie Redevelopment Commission will consider an incentive proposal to lower the purchase price on the existing building leased by Sallie Mae at its August meeting.