The Fishers City Council has approved an economic development agreement for a $40 million culinary and entertainment hub near the planned IKEA store. Plans for The Yard involve a food industry accelerator and as many as 12 independent restaurants.
The agreement with Thompson Thrift Retail Group, which has offices in Terre Haute and Indianapolis, involves Tax Increment Financing and $7 million in bonds. Fishers is partnering with the Indiana Restaurant and Lodging Association to evaluate specific industry needs to better tailor the food entrepreneurship hub. Association Chief Executive Officer Patrick Tamm told Inside INdiana Business last week The Yard could be to restaurants what Launch Fishers has been to startups.
In an interview this weekend on Inside INdiana Business Television, Mayor Scott Fadness said the 17-acre development fits the Fishers vision as an entrepreneurial city. He says The Yard is located at "one of the best real estate sites probably in the state."
Construction could begin in the summer.