Fishers dangles possible tax break to lure unnamed prospect

July 8, 2014
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An unidentified company may take over a vacant distribution facility in Fishers, spurring town leaders to begin the process of making the property eligible for a tax abatement.

(Update: Consumer-products giant Jarden Home plans Fishers HQ)

Town Council on Monday approved a resolution necessary to establish 9999 E. 121st Street as an economic revitalization area. Nothing will be final until after a public hearing and confirmatory vote, Assistant Director of Economic Development Tim Gropp said.

Starting the process now allows the town to move quickly if the company chooses the 637,000-square-foot Fishers building, which has been vacant since Sony DADC Americas closed its 248-worker facility in 2012.

Economic development officials have fielded inquiries about the building since then, Gropp said, but the size and age of the building have been obstacles. Landing a new tenant likely will require a financial incentive, he told the council.

Council—and the public—will get details of the proposed project before any tax breaks are approved, he said. State law requires the town to provide 10 days’ notice before a public hearing.

Cassidy Turley brought the current prospect to the table, Gropp said. Senior Managing Director Katie Culp, who attended the Monday meeting, said she could not identify the client.

  • FingerlickenFadness
    Do I smell even more business and real estate taxes being siphoned off to promote "economic development"? I'm lovin' it!

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