On Wednesday, Governor Bill Haslam announced the company will establish the headquarters for its North American commercial operations in Downtown Memphis. The company will remain based in Boston.
Indigo Ag Inc. will establish its headquarters for its North American commercial operations in the Toyota Plaza at B.B. King and Monroe, renaming it Indigo Plaza.
The move will create more than 700 jobs with an average salary of $64,000 over the next three years. The company said it is also planning on investing $6.6 million.
"If you know these folks, they are a big deal," Haslam said. "They come in with a real track record with success. They are poised to do that again and have that growth happen right here."
The company has been in Memphis since 2016 and had a smaller office in Midtown.
“Indigo is one of the fastest growing startups in the country, and the decision to make Memphis such a vital part of its future growth is a testament to Tennessee’s vibrant economy and skilled workforce,” Haslam said.
Indigo treats seeds with plant microbes and sells them to cotton, soybean, rice and corn farmers seeking higher crop yields. It also helps farmers market and sell crops.
Indigo Ag's president and CEO David Perry said the company selected Memphis due to its close proximity to its customers and its research partners. They also credited the city's leaders and world class talent pool.
"It's good to be close to farmers and this is the center of the Mid-South," he said.