Sonic Looking to Tap Indy Market

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Oklahoma-based Sonic Corp. (Nasdaq: SONC) has announced plans to open 10 new Sonic Drive-In locations in the Indianapolis market over the next five years. The fast-food chain already has locations in Avon, Camby and its newest location in Greenwood, which opened last month.

Sonic has more than a dozen locations throughout Indiana, which the company says generated more than $1.5 million in sales and property taxes in 2015. A spokesperson for Sonic says each location employs between 25-30 workers.

"Sonic has experienced incredible success operating in suburbs surrounding major metropolitan areas like Indianapolis," said Drew Ritger, senior vice president of development for Sonic. "We see significant untapped potential to develop more franchised restaurants especially in Boone, Hamilton and Marion counties, with their strong population growth over the last year."

Sonic has another location opening in Kokomo in early 2017. The company says it is looking to develop franchise opportunities in areas including Carmel, Fishers, Zionsville, Westfield, Noblesville, Greenfield and Lawrence, among others.