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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowAbout 300 people are expected to be employed at the new Cadillac Formula One headquarters in Fishers, where engineers and technicians will assemble cars for the team that is expected to join the F1 grid next year, according to documents reviewed by the Fishers City Council.
The $200 million, 400,000-square-foot Cadillac F1 facility is under construction near Indianapolis Metropolitan Airport, between East 96th Street and East 106th Street and west of Hague Road.
The Fishers City Council on Monday night unanimously approved an amendment to the project agreement, which explains that the development is focused on the F1 team. Previously, the facility was going to be the headquarters for Andretti Global and was expected to include a future Andretti racing museum.
Last year, former Andretti Global CEO Michael Andretti relinquished control to business partner Dan Towriss. The Cadillac F1 team is owned by Detroit-based General Motors Co. and Indianapolis-based TWG Motorsports, a subsidiary of the multinational conglomerate holding company TWG Global, which is owned by billionaire co-chairs Mark Walter and Thomas Tull with headquarters in New York and Chicago.
Towriss is CEO of TWG Motorsports. Veteran motorsports and F1 team executive Graeme Lowdon is team principal of the two-car Cadillac F1 organization, which received approval earlier this month from FIA and Formula One Management to join the 11-team grid next year.
The facility in Fishers will be the corporate headquarters for the Cadillac F1 team and TWG Motorsports, and it will serve as a manufacturing facility for the Cadillac F1 team. The amended project agreement also revises plans for visitor facilities at the headquarters, according to council documents.
TWG Motorsports Chief Operating Office Jill Gregory told Fishers City Council members that the facility will be the “destination” in the United States for people who want to work in F1. She said the focus right now is on redesigning plans for the interior of the building from the original concept of a facility for IndyCar, Indy NXT and IMSA SportsCar to one dedicated to F1.
“We’re going to have world-class engineers, employees, international media, fans that are interested in this area,” Gregory said. “We have been in kind of full redesign mode, mostly on the inside, on how that facility will be used, but it will be the U.S. home of Formula One and Cadillac Formula One.”
Council members also heard an introduction for a proposal by Andretti Global to amend the economic development agreement and assign it to Motorsport Real Estate Venues LLC, a development firm associated with TWG Motorsports. In 2022, the council approved the economic development agreement, which includes $26 million in bonds to support the racing facility. No financial terms of the bond financing will be changed, according to council documents.
The Cadillac F1 team will have facilities in Fishers; Warren, Michigan; Concord, North Carolina; and Silverstone, England.
Indianapolis-based Ratio Architects is designing the Cadillac F1 headquarters, while Bethesda, Maryland-based Clark Construction is general contractor and Chicago-based Bradford Allen is master developer of the site.
TWG Motorsports has options to develop an additional 67 acres around the Cadillac F1 site. Mayor Scott Fadness told councilors that the city is having preliminary conversations with the racing team and developers to figure out what future development will look like.
“Clearly, this building and what this team is going to do here is a catalyst for something,” Fadness said. “And I think we have a great team assembled to try to figure out how we maximize that, not just for the folks at Cadillac and Formula One, but for the entire community.”
Andretti Global, which is now owned by TWG Motorsports, plans to convert a former Indianapolis Star printing facility on the northwest side of Indianapolis into the headquarters of the team’s IndyCar, Indy NXT and Formula E teams. The team expects the 240,000-square-foot building at 8278 Georgetown Road will be operational for Andretti Global this summer.
Gregory is also president of Andretti Global, which currently employs about 150 people and plans to hire up to 500 new employees in the coming years.
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Georgetown road is on the northwest side not NE.
This is awesome and it brings more attention to the greater Indianapolis as a great place to live to the world.
It’s not clear whether manufacturing was in the original site plan and in the Fishers ordinance authorizing the bond issue. Nor is it clear whether Andretti Global has complied with state and federal laws regarding wetlands. I have no objection to the current plans per se, as long as any environmental harm to Ritchey Woods Nature Preserve will be avoided.