Cabela's getting $18M in city bonds

June 11, 2007
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The city of Greenwood plans to help with financing on a Cabela's store at the southeast corner of Interstate 65 and County Line Road. Cabela’sThe Nebraska-based outdoors retailing giant has a deal to buy 104 acres at the intersection, including 25 acres for the chain's second Indiana location and the rest for other development including at least two hotels, a water park and upscale restaurants, said Greenwood Mayor Charles Henderson. "It's a great company and a great store," he said. Henderson said Greenwood will issue $18 million in economic development bonds, with Cabela's guaranteeing repayment, to get the project off the ground. The development would be built across I-65 from Gander Mountain, between I-65 and Arlington Avenue (Graham Road). The city plans to widen Arlington to five lanes in anticipation of the project. Cabela's is slated to open in the fall of 2008. Its first Indiana store is scheduled to open in October of this year in Hammond.
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  • Smart move by the Greenwood city leadership. A single Cabela's store is like getting the economic impact of a whole shopping mall at a far lower investment - $18mm in this case. These stores bring people in from far and wide to shop. Lots of out-of-towners (and North Siders like me!) will pay visits to Greenwood now. These stores also spur lots of other development - the hotels already mentioned are a great start. I've seen it over the years around the store they built in Owatonna, MN.

    Nice win for Greenwood. And smart, smart, smart to give the incentives to get this going. It will pay off many times over.
  • If only Indianapolis would get smart and widen South Emerson Ave, not only to attract new businesses like Greenwood, but alleviate the mess Emerson Ave South of Southport Road has become. A 2 lane Emerson Ave is a traffic nightmare. Smart move on Greenwood's part to put in the correct infrastructure beforehand. Thumbs up to Johnson County and Thumbs down to Marion County.
  • Wasn't there a huge dispute in northwest Indiana over the wisdom of providing Cabela's economic incentives for such low paying retail jobs?

    If I recall properly, Gander Mountain was actively lobbying government not to pick winners and losers in retail shopping by giving its competitor taxpayer incentives.
  • As I recall, the dispute up in NW Indiana was about State money. And I think Cabela's was asking for more than what the state usually offers based on numbers of jobs created, etc.

    On the whole, I would also prefer that government not pick winners and losers in the economy. But on the other hand, it can be good for government to support a specific piece of development because of the other development it can create.
  • Am I the only person on the planet who does not know what Cabela's is? So does this mean that the Northside will get an IKEA? Just a thought....while we're talking retail tourist attractions.
  • LadySales, you can bet your bottom dollar that if an IKEA does ever come to Indy, it will be on the Northside.
  • Did Gander Mountain STIF Cabela's?

    http://nwitimes.com/articles/2006/01/07/news/top_news/27d0022da099424c862570ef0000d706.txt
  • Sophia, IKEA likes less than obvious places for their locations. So, what do you think - Noblesville? Especially after this whole Hamilton Town Center.
  • IKEA IKEA IKEA
    I vote for IKEA!
  • LadySales, someplace off of I69 would be a perfect location for an IKEA or maybe even off of I65 in the new Anson development in Lebanon. An urban IKEA in downtown would be wonderful, but our city leaders are too stupid to ever let that become a reality.

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  1. How much you wanna bet, that 70% of the jobs created there (after construction) are minimum wage? And Harvey is correct, the vast majority of residents in this project will drive to their jobs, and to think otherwise, is like Harvey says, a pipe dream. Someone working at a restaurant or retail store will not be able to afford living there. What ever happened to people who wanted to build buildings, paying for it themselves? Not a fan of these tax deals.

  2. Uh, no GeorgeP. The project is supposed to bring on 1,000 jobs and those people along with the people that will be living in the new residential will be driving to their jobs. The walkable stuff is a pipe dream. Besides, walkable is defined as having all daily necessities within 1/2 mile. That's not the case here. Never will be.

  3. Brad is on to something there. The merger of the Formula E and IndyCar Series would give IndyCar access to International markets and Formula E access the Indianapolis 500, not to mention some other events in the USA. Maybe after 2016 but before the new Dallara is rolled out for 2018. This give IndyCar two more seasons to run the DW12 and Formula E to get charged up, pun intended. Then shock the racing world, pun intended, but making the 101st Indianapolis 500 a stellar, groundbreaking event: The first all-electric Indy 500, and use that platform to promote the future of the sport.

  4. No, HarveyF, the exact opposite. Greater density and closeness to retail and everyday necessities reduces traffic. When one has to drive miles for necessities, all those cars are on the roads for many miles. When reasonable density is built, low rise in this case, in the middle of a thriving retail area, one has to drive far less, actually reducing the number of cars on the road.

  5. The Indy Star announced today the appointment of a new Beverage Reporter! So instead of insightful reports on Indy pro sports and Indiana college teams, you now get to read stories about the 432nd new brewery open or some obscure Hoosier winery winning a county fair blue ribbon. Yep, that's the coverage we Star readers crave. Not.

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