Andretti’s new $200 million headquarters will be subsidized by the state
While Andretti Autosport is best known for its exploits in the NTT IndyCar Seriesthe organization has a competitive presence in various racing series from ABB FIA Formula E World Championship at the Repco Supercars Championship in Australia. Andretti Global, the parent company of Andretti Autosport, announced today its intention to build a new 575,000-square-foot facility to serve as the organization’s global headquarters. Almost one-tenth of the cost of building the plant can be recovered through tax credits.
Andretti Global has selected a 90-acre site in Fishers, Indiana for the location of its future $200 million headquarters. Fishers is located about 19 miles northeast of the Indianapolis Motor Speedway. The cost of the facilities will likely be partially subsidized by the Indiana Economic Development Corporation (IEDC). Andretti Autosport may receive up to $19 million in conditional tax credits pending approval by the IEDC Board of Directors. The project will begin later this year and is expected to be operational by 2025.
Indiana Governor Eric J. Holcomb said in a statement:
“Indiana has long been the racing capital of the world, and Andretti Autosport’s commitment to growth here will only further solidify our state’s leadership position in motorsports and STEM-related pursuits.” This new campus will not only bring exciting new job opportunities and serve as an asset to one of our fastest growing communities, but will also showcase just how much this living legacy, one of the most iconic global brands , continues to invest in the future of our great state.”
Andretti Autosport said the new headquarters will serve as the base of operations for its IndyCar, Indy Lights and IMSA programs. The organization also said it would also be the basis for “other future racing initiatives”. It’s no secret that Michael Andretti has ambitions to enter Formula 1. With Andretti’s F1 goals in mind, the depiction of the plant with its man-made water feature is strikingly similar to the McLaren Technology Centre.
Andretti’s new global headquarters will also feature an indoor amphitheater, museum and innovation center. One year after opening, the facility is expected to add up to 500 jobs to the community of Fishers, Indiana. In addition to the millions of dollars in tax credits, the project has also received additional unspecified incentives from the City of Fishers.
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