PAXAFE Inc., a Delaware C-Corp that develops machine learning models to manage supply chain risk, today announced the relocation of its headquarters from Milwaukee to Indianapolis, creating up to 68 new high-wage jobs in central Indiana by the end of 2024.

"Indiana's reputation as a hub for innovation continues to grow as high-tech companies like PAXAFE choose our state for their headquarters and continued expansion," said Indiana Secretary of Commerce Brad Chambers. "The state of Indiana is placing an enhanced focus on supporting Indiana’s entrepreneurial companies and growing our tech ecosystem, and we are thrilled to support PAXAFE and help the company achieve even more in the years to come."

PAXAFE is investing more than $6.3 million over the coming years to lease and equip its new headquarters in downtown Indianapolis. The company recently moved into its 700-square-foot office space at 55 Monument Circle, which will house members of its data, product and customer operations teams to allow the company to service and grow its domestic and international customer base.

Based on the company’s job creation plans, the IEDC committed an investment in PAXAFE Inc. of up to $1.5 million in the form of incentive-based tax credits. These tax credits are performance-based, meaning the company is eligible to claim incentives once Hoosiers are hired. The city of Indianapolis supports the project in partnership with Develop Indy.