IEDC Announces Sweetwater Expansion

The following is the text from an announcement by the Indiana Economic Development Corporation about Sweetwater's current expansion and plans for future growth.

Music Industry Distributor Adding In-House Marketing Dept., 285 Jobs in Northeast Indiana

FORT WAYNE, Ind. (Sept. 3, 2015) - Sweetwater Sound Inc., the number one online retailer of music instruments and audio gear in the U.S., announced plans today to expand its headquarters at 5501 U.S. 30, creating up to 285 new jobs by the end of 2018.

The homegrown Hoosier company will invest $8.8 million over the next several years to expand its 320,000 square foot campus. The first of several expansion projects will be a 16,000 square-foot facility to house the company's marketing and merchandising departments, and a new state-of-the-art video studio, to support the company's sales and branding efforts. Construction is expected to begin this fall and the company anticipates hiring professional marketing positions yet this year, offering salaries above both the Allen County and the state average wages.

Sweetwater founder and president Chuck Surack commented, "Sweetwater continues to grow at a remarkable pace, both in sales and in number of employees. In 2014, sales were up by 28% over the previous year, and we anticipate similar results for 2015. New expansion of our campus will build our capacity to ensure that we remain the country's most respected dealer in instruments and high-technology equipment for musicians, recording studios and broadcasters."

Sweetwater was founded in 1979 as a professional four-track recording studio, and is now the third largest music instrument audio dealer in the United States. The company offers products from brands like Avid, Roland, Marshall, Yamaha, Fender and Gibson, providing instruments and high-technology equipment for musicians, recording studios, and broadcasters. The company continues to grow, averaging increases in excess of 20 percent in sales and 15 percent in employees each year.

This is the company's second major expansion in recent years. In 2012, Sweetwater announced plans to invest $23.5 million to expand its headquarters by 110,000-square-feet and create more than 300 jobs. The company expects total full-time employment to reach 1,000 by the end of 2018. Interested applicants should visit www.sweetwater.com/careers to learn more and apply.

The Indiana Economic Development Corporation offered Sweetwater Sound up to $2,000,000 in conditional tax credits and up to $50,000 in training grants based on the company's job creation plans announced today. These incentives are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives. The city of Fort Wayne will offer additional incentives at the request of Greater Fort Wayne Inc.

About SweetwaterSound
Founded in 1979,Sweetwater is the nation's leading retailer in instruments and pro audio equipment for musicians, recording studios, broadcast, education, and houses of worship.Sweetwater's customers can be found everywhere music is heard and audio is played,broadcast, or recorded, including recording, film, and broadcast studios in New York,Nashville, Los Angeles, Chicago, and Miami; in hundreds of thousands of home recording studios; and in schools and churches nationwide. Sweetwater's founding and meteoric growth are built on a knowledgeable and experienced staff, outstanding selection and pricing, and above all, an unwavering commitment to customer service excellence in every situation. For further information, visit Sweetwater.com.

About IEDC
The Indiana Economic Development Corporation (IEDC) leads the state of Indiana's economic development efforts, focusing on helping companies grow in and locate to the state. Governed by a 12-member board chaired by Governor Mike Pence, the IEDC manages many initiatives, including performance-based tax credits, workforce training grants, public infrastructure assistance and talent attraction and retention efforts. For more information about the IEDC, visit www.iedc.in.gov.

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