A Fishers-based graphics manufacturer's expansion plan will be up for a tax abatement vote this evening. AI Innovations is looking to pump more than $6 million into growing operations and add more than 130 workers over the next five years. The company currently employs just over 100 at its Hamilton County headquarters.
September 15, 2014
FISHERS, Ind. – The Fishers Town Council will consider the establishment of an economic revitalization area in preparation for an economic development agreement with AI Innovations at tonight's meeting. The wholesale sign manufacturer is planning significant growth at its facility on Exit Five Parkway.
“The Town's economic development strategy is as much about retaining existing, growing businesses as it is about attracting new ones,” said Town Council President John Weingardt. “With plans to invest millions and add 133 high-paying jobs to Fishers, we are supportive of Awning Innovations growth efforts and proud to be a part of its long-term planning.”
AI Innovations currently employs 105 employees at its Fishers facility, and plans to more than double its workforce by adding 133 new full-time jobs in the next five years and invest more than $6 million in new equipment. The new jobs will have an average hourly wage of $28.84 and includes designers, high-skilled production/manufacturing, sales and administrative staff.
“AI Innovations is very excited about our new home here in Fishers,” said Frank Green, president of AI Innovations. “The economic development agreement will assist AI in providing both additional employment and revenue dollars to the community – in addition to our own growth as a company.”
The economic development agreement includes a five-year personal property tax abatement. While timing and roll-out of investment will impact the total amount of incentive, the estimated value of the abatement is $235,000 over five years.
About The Fishers Advantage
The Fishers Advantage, Fishers' aggressive economic development initiative, has recruited over 1,250 jobs and retained nearly 400 jobs over the past 30 months by highlighting an excellent business climate, quality of life and talented workforce in Fishers.
Source: The Town of Fishers