Advisors Excel Expands with an Expected Total Economic Impact of $662M to the Community
Wednesday, September 11, 2019 7:00 PM by Jensen Simons
GO Topeka has been working with one of Topeka’s largest employers, Advisors Excel, to aid in the expansion of their facilities in Gage Center. The GO Topeka Board of Directors approved the initial incentive in October 2018, with the entire package being approved by the GO Topeka Executive Committee in April 2019 and the JEDO board in May 2019.
Known as “Project Purple,” this 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.
“We’ve called Topeka home for twenty-plus years now,” said Advisors Excel Co-Founder David Callanan. “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.”
“GO Topeka is excited to come alongside Advisors Excel as they expand their operations in the city. AE provides incredible value to its employees.” Says Molly Howey, the Greater Topeka Partnership’s SVP of Economic Development. “They are a vital contributor to the economic progress Topeka and Shawnee County have enjoyed over the past decade. This expansion is a strategic next step for their organization that the Greater Topeka Partnership is proud to support.”
“I want to thank the founders of AE for continuing to choose Topeka and also thank our community leadership for the hard work in improving our community,” says Mayor Michelle De La Isla, JEDO chair. “This is another bright example of why community pride and quality of life matters.”
"This is not only a tremendous achievement for our local business community but a huge gain for the community at large.” says Shawnee County Commissioner Bob Archer. “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.”
Following GO Topeka’s incentive guidelines, Advisors Excel will be receiving up to $1,490,000 based on the performance of the company’s jobs created and investments in capital.
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If you would like more information about this topic, please contact Bob Ross at 785.215.8362 or Bob.Ross@TopekaPartnership.com.