A Jasper based bank announces plans to expand and invest in Dubois County. German American Bank is investing millions back into the city that helped grow the community model bank into a multi-billion dollar organization.
Expansion and investment is nothing new to German American, the century old company has grown so much over the years that it’s having to physically expand to accommodate its employee base. CEO Mark Schroeder says to keep up with growing demands a $6 million facility is being built to help alleviate current office space constraints.
The company has two facilities for employees in Jasper but both are full and that’s forcing the bank to rent space for employees to work. The new 40,000 square foot facility is expected to house about 100 employees who will focus on back office operations, “I think it’s an announcement that is exciting for the community because it’s a tangible recognition of the growth German American has had. It’s probably more exciting for our admin and support employees who have been squeezed together in tight facilities so this will be very nice for them,” said Mark Schroeder.
The new operations center is slated to transform a field on West 12th Avenue into state of the art work space with an in-house fitness center. German American submitted an application to Jasper Economic Development Commission for potential tax breaks. Officials hope to break ground on the operations center in August.