Food And Beverage Tax Faces Key Vote

Posted: Updated:

The Fishers Town Council will vote tonight on two economic development proposals. Council President John Weingardt tells Inside INdiana Business, if approved, a 1 percent food and beverage tax would give the Hamilton County town "another club in the golf bag" to seek additional economic opportunities. The final vote comes as another significant piece of downtown revitalization goes before the council. Meyer Najem Corp. wants to build a new headquarters and create close to 20 jobs. Weingardt says the construction company's $5.5 million plans include space for "high growth, high potential" companies.

Several communities surrounding Fishers have a similar tax in place.

The council is set to take up the tax measure during its meeting scheduled for 7 p.m. It will have a joint session with the Economic Development and Redevelopment commissions after to determine the fate of the Meyer Najem plan.

December 2, 2013

News Release

FISHERS, Ind. - Fishers-based construction firm Meyer Najem announced today their plans to relocate their headquarters in Fishers and add 18 additional employees by 2015. For consideration at tonight's Fishers Town Council meeting is a plan for the construction of a 40,000 sq. ft., $5.5 million building on Maple Street in Downtown Fishers.

"Meyer Najem is one of the Midwest's leading construction firms," said Fishers Town Council President John Weingardt. "Their expansion in downtown Fishers and construction of a new building shows not only a strong commitment to our community, but a desire to be part of Fishers' downtown revitalization."

The two-story building with a rooftop terrace will be home to Meyer Najem on the first floor and will allocate 17,500 sq. ft. of office space on the second floor for high growth, high potential companies. The Town of Fishers will master lease the second floor and sublease the space to other companies, such as Launch Fishers graduates.

"Meyer Najem is very pleased to continue our growth as a member of the Fishers' business community. We have seen and experienced the benefit of the business friendly environment here, which has been important to the success of our firm over the last fifteen years," said Tim Russell, President of Meyer Najem. "Our new headquarters location in the downtown Nickel Plate District will provide an expanded work environment for our loyal workforce, while providing for our firm's future growth. We highly value our partnership with the Town of Fishers, and look forward to a successful transition into our new facility by the end of 2014."

In addition to the new building in downtown Fishers, the project will include a surface parking lot to be used during non-business hours and weekends for event parking. The construction of the parking lot will break ground in the spring of 2014 with a completion date of summer 2014.

The deal being considered at the Monday, Dec.2 Fishers Town Council meeting would include $1.4 million in Tax Increment Financing from Fishers and contribution of the land where the building will be constructed. Meyer Najem would invest $5.5 million for the construction of the building, the parking lot and street improvements to Maple Street.

Source: The Town of Fishers