North of 96th

Welcome to North of 96th, your source for business news from Carmel, Fishers, Noblesville, Westfield and Zionsville. Your host, Lindsey Erdody, can be reached at lerdody@ibj.com.

FedEx / Zionsville / Boone County / Regional News

Zionsville lands $40M FedEx investment

May 29, 2013

A Wednesday morning groundbreaking ceremony signaled the start of construction on a new FedEx Ground distribution center in Zionsville—the surest sign yet that the Boone County town really is open for business.

Long known as a largely residential community, Zionsville last year set out to diversify its tax base by ramping up commercial development. FedEx Ground is the first tenant in the new Ripberger Business Park, located a couple miles north of Interstate 465 and east of Zionsville Road.

The $40 million project is said to be the largest one-time investment there by a private entity.

Zionsville agreed to spend $2.4 million to extend Bennett Parkway south of 106th Street  into the business park, but economic development chief Wayne DeLong said FedEx did not request (or receive) additional incentives.

But the town did offer a $150,000 grant to an existing business that must move to make way for progress. Locally based Landscapes Unlimited is expected to build a facility in the park. Its current operation at 5155 W. Old 106th St. is in the path of the new road.

Last week, Zionsville Community Schools and the Zionsville Redevelopment Commission closed a $3.4 million deal to buy about 91 acres of prime Dow Chemical Co. land along 106th Street. The cash-strapped school district will keep about nine acres for a warehouse and maintenance facility; Zionsville expects to develop its portion of the property.

What do you make of the recent changes to Zionsville's business landscape?

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