At a news conference this morning, Accutech Systems, a leading software company for the trust and investment industry, announced plans to invest more than $5.5 million to purchase and redevelop a 40,000 SF building in downtown Muncie. Accutech currently employs 53 people locally and 25 additional remote workers. By 2023, the company intends to grow to at least 100 local employees.
“We were quickly outgrowing our current space and looked hard at multiple different options for our expansion. Ultimately, this is the community that I want to invest in and this project will allow us to continue our expansion in a space three times the size we have today. This project is going to allow us to retain our amazing workforce as well as attract more highly skilled talent to stay in, or relocate to, Muncie. We want to build on the groundwork that has been laid for Muncie’s revitalization and I am proud to have Accutech bring more density and energy in a commitment to being a long-standing anchor for our downtown’s current and future growth,” said Adam Unger, Accutech President.
Accutech’s new headquarters will bring renewed life into a former Sears Department Store building that has been underutilized for decades. The building is located in a premier location in the 100 block of Walnut Street, an area revitalized by a complete streetscape and utility reconstruction in 2017.
Mayor Dennis Tyler noted, “The City of Muncie, local foundations, private business owners, and so many others have demonstrated a long-term commitment to investing in our downtown. Accutech’s decision to choose our central city for their expansion is a testament to the work that has been done to make our city’s core an attractive and vibrant place that is poised for new investment. I am thrilled that we were able to efficiently mobilize and work collaboratively to give this 30-year family business an opportunity to retain and create high-quality job opportunities in our city’s core.”
Founded in 1987, Accutech provides innovative wealth management solutions through market-leading software and operations services, providing clients with operations specialists, software functionality, software support, daily processing, a hosted environment, data backup, disaster recovery, software upgrades, hardware upgrades and access to IT specialists.
The company plans to hire approximately 20 new employees this year in a variety of positions including trust operations assistants, IT specialists, software developers and software support. New positions are expected to offer salaries above both the state and Muncie-Delaware County average wage. Interested applicants may apply online at https://www.trustasc.com/forms/careers-at-accutech/.
Local elected officials and representatives of the Muncie-Delaware County Chamber of Commerce, and Delaware Advancement Corporation joined company president Adam Unger to share the news to a crowd of business and community leaders.
“Accutech is the type of high-value company that every community is seeking to attract. They will create a dynamic workplace that will draw talent from the technology sector to Muncie, thereby advancing our efforts toward talent attraction, increased investment, and population growth,” said Jay Julian, President & CEO, Muncie-Delaware County Chamber of Commerce and Economic Development Alliance.
“Indiana’s tech community is on a roll thanks to the spirit and commitment of Hoosier entrepreneurs and innovators across the state,” said Indiana Secretary of Commerce Jim Schellinger. “Companies like Accutech are not only helping advance our economy by developing new solutions with 21st century technology, they’re also propelling our communities forward. With this announcement, it is clear that Accutech will be a true partner in enhancing the quality of place in the Muncie area and in supporting the continued momentum of Indiana’s tech industry and workforce.”
The Indiana Economic Development Corporation offered Accutech Systems up to $600,000 in conditional tax credits. These tax credits are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives. The city of Muncie is also supporting the project and has executed an economic development agreement with the company. The public approval process for local assistance is underway.
Accutech fulfills its purpose to make great things happen for other people by delivering innovative trust and wealth management technology solutions and exceptional, personalized service to over 250 banks and wealth management companies nationwide. The company also offers outsourced operations services to its clients, handling many day-to-day “back office” tasks on their behalf. Accutech boasts over 30 years of developing innovative technological “firsts” in its industry, and delivering the kind of service that results in consistently achieving over 98% customer satisfaction. The company also focuses heavily on cultivating a positive and engaging work environment, and has been recognized in the top 100 places to work in Indiana four times, most recently in 2019.
About the Muncie-Delaware County Economic Development Alliance
The Indiana Economic Development Corporation (IEDC) leads the state of Indiana’s economic development efforts, helping businesses launch, grow and locate in the state. Governed by a 15-member board chaired by Governor Eric J. Holcomb, the IEDC manages many initiatives, including performance-based tax credits, workforce training grants, innovation and entrepreneurship resources, public infrastructure assistance, and talent attraction and retention efforts. For more information about the IEDC, visit www.iedc.in.gov.
Adam Unger, President
Traci Lutton, Vice President, Economic Development
Muncie-Delaware County Economic Development Alliance