Fishers Touts Near-Record Economic Development Year
Fishers City Hall (photo courtesy of the city of Fishers)
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowThe city of Fishers says it experienced near-record investment in 2020, despite a slowdown in the economy. Nine companies selected the city for relocation projects and five existing firms chose to expand operations, totaling more than 1,100 new job commitments and planned investment of more than $121 million.
The city says its Class A office vacancy rate dropped 5% to 11.7% throughout the year.
“Today’s announcement speaks to the vibrancy and dynamic nature of Fishers’ economy,” said Mayor Scott Fadness. “In a year when so many companies were experiencing slower growth, we are fortunate to have a business community that keeps innovating and driving toward growth even in the face of adversity.”
The city says it also launched the Fishers COVID-19 Recovery Program in April 2020. As part of that program, the city loaned $505,000 to 73 Fishers-based businesses to help cover operational costs as firms responded to business changes due to the pandemic.
Since Mayor Fadness took office in 2014, firms have added 7,135 new jobs, retained 1,045 jobs, and have committed to more than $905 million in capital investment to catalyze the Fishers economy.
Two companies selected existing office space to rehabilitate as part of their expansion plans:
- Knowledge Services, a workforce management company, announced its plans to purchase the former Marsh Supermarkets headquarters located in the Crosspoint Business Park. The four-story office building was fully renovated for the company’s growing workforce at its headquarters location.
- Round Room, the largest Verizon Wireless retailer in the U.S., announced its intent to relocate its headquarters from Carmel to Fishers. The company plans to renovate and occupy the former Roche Diagnostics building along I-69.
The city says Class A office space saw several investments by new and existing owners.
- 10475 Crosspoint Blvd – the former Wiley building was purchased by an Arkansas firm which plans to remodel the Class A office space.
- 9998 Crosspoint Blvd – the former Edgeworth Laskey One Concourse building was purchased by Colony Capital, which intends to remodel the Class A office space.