TOPEKA, Kan. (WIBW) - Members of the Joint Economic Development Organization gave the green light to Project Purple, revealed at Wednesday's meeting to be Advisors Excel.
The yes vote will allow Advisors Excel to recruit 220 new employees, with an estimated economic impact to Topeka of more than $650 million over the next ten years.
The expansion dovetails with Advisors Excel's renovation of Gage Center. Company co-founder David Callanan promises a complete facelift of the center.
“We’ve called Topeka home for twenty-plus years now,” Callanan said. “We live here, raise our families here, and started Advisors Excel here. We’re excited about the future of our business and we are just as excited about the future of our city. We appreciate the willingness of JEDO to make this investment helping us grow and expand and we promise that we’ll do our best to return that investment in the Topeka community tenfold.”
Advisors Excel says the new jobs will be added over the next five years, and pay an average salary of $52,000 plus benefits.
JEDO's vote approves incentives following GO Topeka's guidelines of up to $1.49 million, based on meeting job creation and capital investment standards.
“GO Topeka is excited to come alongside Advisors Excel as they expand their operations in the city. AE provides incredible value to its employees," said Molly Howey, the Greater Topeka Partnership’s senior vice president of Economic Development. “They are a vital contributor to the economic progress Topeka and Shawnee County have enjoyed over the past decade."
Callanan said new employees are coming from as far away as Boston and San Diego.
JEDO members also "yes" on incentives for Project Lightning and Project Cay. Neither company was identified at this stage, thought Project Cay is described as an animal health manufacturing company already in the Topeka area which is planning a million-dollar expansion.