Newspaper article The Topeka Capital-Journal

JEDO OKs $1.5M Package for Advisors Excel

Newspaper article The Topeka Capital-Journal

JEDO OKs $1.5M Package for Advisors Excel

Article excerpt

A Topeka-based financial advising company soon will be making some multimillion-dollar money moves.

The Joint Economic Development Organization board of directors votedunanimously Wednesday to approve a contract between Advisors Excel and GO Topeka. According to the agreement, Advisors Excel will receive up to $1.49 million in economic incentives from GO Topeka during a five-year job creation period for the company.

Advisors Excel is looking to create 220 new full-time positions over the next five years as it expands into Gage Shopping Center. The new jobs are expected to have an average annual salary of $52,000.

GO Topeka funds are intended to be used solely for employment and employee training. In addition to the

funds provided by GO Topeka, Advisors Excel will devote $9 million in capital investment to its expansion efforts.

“We’ve called Topeka home for 20-plus years now,” said David Callanan, a co-founder of Advisors Excel. “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.”

JEDO contracts with GO Topeka to promote economic development with funds raised through a half-cent countywide sales tax.

Freddy Mawyin, research manager for the Greater Topeka Partnership, estimates the investment could result in a total economic impact of $650 million in Shawnee County over the next 10 years.

“They are a vital contributor to the economic progress Topeka and Shawnee County have enjoyed over the past decade,” said Molly Howey, the partnership’s senior vice president of economic development. “This expansion is a strategic next step for their organization that the Greater Topeka Partnership is proud to support. …

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