TOPEKA, Kan. (KSNT) – Greater Topeka Partnership announced Wednesday evening that Advisors Excel is set to bring hundreds of jobs and hundreds of millions in economic impact to Topeka.
During the Joint Economic Development Organization’s board meeting Wednesday evening, they voted to approve an incentive package which was known as “Project Purple”.
Through the incentive package, Advisors Excel will be receiving up to $1.49 million based on the performance of the company’s jobs created and investments in capital.
The investment marketing business recently released renderings for buildings on land purchased to begin an expansion of the Topeka based company. The buildings will be located at Huntoon and Gage.
They will feature office spaces for the workers as well as a gym and medical center. There will also be a large common workspace for workers to collaborate and a repaved parking lot.
The expansion will bring 220 new full-time jobs over the next five years with an average salary of $52,000 plus benefits, resulting in a one-time economic impact of $12.4M from the capital investment and a total economic impact of $650M over 10 years from the added jobs.
Advisors Excel Co-Founder, David Callanan, spoke about the excitement surrounding the package approval.
“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.”
The number of jobs that will be offered through the expansion attracted a number of comments from the County Commissioners.
“This is not only a tremendous achievement for our local business community but a huge gain for the community at large,” Shawnee County Commissioner Bob Archer said. “These are 220 new jobs which offer substantial benefits and opportunities for professional growth. Without a doubt, this expansion will significantly impact Shawnee County’s quality of life for the better.”
KSNT was the first to bring the public a look at the pictures of the expansion. The full story on the expansion can be found here.