A planned $40 million culinary and entertainment center is the latest project in Fishers’ ongoing efforts to be an entrepreneurial city. City leaders hope The Yard, which will be located next to the new IKEA store, will attract top-level culinary entrepreneurs. The proposed development, spanning 17 acres, would include a culinary and restaurant accelerator and space for up to 12 stand-alone concepts, depending on demand. The city is working with the Indiana Restaurant and Lodging Association to help with concept development.
Mayor Scott Fadness says the project will address residents’ "desire for more local food and entertainment options." In a release, he says, "An investment in a culinary hub of amenities is a crucial component to attracting top talent and retaining a thriving entrepreneurial culture."
The city plans to lease two 1,500 square-foot buildings to be used as an accelerator. The city will work with the Indiana Restaurant and Lodging Association to help identify the specific needs of the industry and finalize details on the accelerator.
On Monday, the Fishers City Council will consider an economic development agreement with Thompson Thrift Retail Group on the project. The proposal includes the establishment of a Tax Increment Financing district and the issuing of $7 million in economic development bonds.