Billionaire investor Warren Buffett joined Governor Mike Pence on Monday at a ribbon cutting ceremony for a new Geico service center in Carmel.
The facility is being viewed as symbol of economic turnaround.
Buffett, whose company Berkshire-Hathaway owns Geico, says success of some of its other businesses in the Hoosier state is why he believes the new center will thrive.
“Obviously we like Indiana, we have three major companies at Berkshire Hathaway that have been based here for over a hundred years,” he says.
The center officially opened in April and has hired 250 employees since. Buffett says, traditionally, these workers stay and help the company expand.
“We’re not going to go anyplace. If we’re located in Indianapolis or Washington or wherever it may be, we’re there for keeps and we’re just going to keep adding people,” he says.
Carmel Mayor Jim Brainard says projects such as this help strengthen the whole state.
“If we’re not spending as much money on unemployment as a state, if we’re not spending as much on social services for unemployed people, we’re able to spend more money on education and parks and things that make the community even better,” he says.
Officials hope to have 400 employees hired by the end of the year and plan to add up to a 1,050 more over the next three years.
The governor touted the program as an example of how Indiana has created a business climate that makes it attractive to large companies.