SteadyServe will occupy 8,600 square feet of second floor space in the Spur Building currently under construction in downtown Fishers, and the city is offering $84,000 in incentives over the four-year lease. The structure’s first floor will feature craft brewery Four Day Ray.
Fishers Economic Development Director Brandon Dickinson briefed the Redevelopment Commission Tuesday evening on the project agreement to bring SteadyServe to Fishers. Dickinson said the incentives amount to $2 per square feet of space to be occupied. The incentives mitigate the costs of the firm to locate in Fishers. He described competition to land this company, saying the incentives were offered to attract the firm to locate in Fishers.
SteadyStream was described as a high-tech company providing support to the fast-growing industry of brewing beer. According to Dickinson, the incentives provide “a fantastic opportunity to bring a really great company that meets all of the demands of the types of companies we are trying to attract to Fishers – culture, intelligence, sense of community.”
The company projects having up to 150 employees by 2021.
If SteadyStream leaves this space during the four-year lease period and does not relocate in Fishers, the company will be responsible for paying the remainder of the lease payments on the lease.
The Redevelopment Commission approved a resolution okaying the project agreement.
In other Redevelopment Commission business:
–The commission acted to switch their bonds from being backed by County Option Income Tax (COIT) revenue to the city’s general fund. With the city’s recent AAA bond rating, this will save money on interest payments, according to City Controller Oscar Gutierrez.
–The commission received a statement and fund balances for all Tax Increment Financing (TIF) districts in the city. You can see the full report at the link below.