Dow AgroSciences has announced plans for a multi-year expansion of its global headquarters in northwest Indianapolis, with investment of more than US$340 million.

The first phase in the multi-year expansion plan includes the construction of a 175,000 square foot research and development building, as well as a 14,000 square foot greenhouse on the company's corporate campus. These facilities are part of a global growth plan for Dow AgroSciences' research efforts as it develops and commercialises new product solutions for customers in agricultural and related market segments. More than 550 new jobs will be added over the next five years at the headquarters location in both scientific and commercial roles.

In 2009, the company announced numerous plans for expanding its research capacity, including the signing of a 15-year lease on an 80,000 square foot research facility adjacent to its corporate headquarters in Indianapolis and the establishment of a significant research program at the Purdue Research Park in West Lafayette, Ind. Numerous collaborations and research milestones have also been announced.

The Indiana Economic Development Corporation (IEDC) offered Dow AgroSciences up to US$12.5 million in performance-based tax credits and US$205,000 in training grants based on the company's job creation plans. In addition, pending IEDC board approvals, the IEDC will provide the city of Indianapolis with up to US$500,000 from its Industrial Development Grant Fund to assist in road, sewer and water improvements needed for the project. The city of Indianapolis and Indianapolis Economic Development, Inc. will assist the company's expansion by supporting a request for tax increment financing.

The City of Indianapolis has committed, pending final approvals being granted, to provide Dow AgroSciences with US$20 million of property tax increment financing assistance to help defer project costs. The property tax increment financing dollars to be provided by the City of Indianapolis will come directly from the new property taxes to be paid by Dow AgroSciences as it invests in facilities and equipment on its Indianapolis campus. The company's capital investment and job creation plans are contingent upon the approval of the local and state incentives.

Dow AgroSciences LLC, based in Indianapolis, Indiana, US, is an agricultural company providing innovative agrochemical and biotechnology solutions globally. The company, a wholly owned subsidiary of The Dow Chemical Company, has sales of US$4.5 billion.