Fishers touts 2020 economic performance

LarryInFishers.com

2020 was not a good year for most as the COVID-19 pandemic impacted a large swath of our lives, but the City of Fishers is showcasing some impressive economic numbers in a year that was not known to be good for business.

The city has added-up numbers for the previous year and found the following data for Fishers:

–1,101 new jobs

–Average salary for those new jobs at $83,022

–Total capital investment of $121 million

–Class-A Office vacancy rate of 11.7%,  a drop of nearly 5%  over the course of 2020.

“Today’s announcement speaks to the vibrancy and dynamic nature of Fishers’ economy,” said Fishers Mayor Scott Fadness in a city news release. “In a year when so many companies were experiencing slower growth, we are fortunate to have a business community that keeps innovating and driving toward growth even in the face of adversity.”

The mayor also points to his COVID-19 Recovery Program, established in April 2020. As part of that plan, the City of Fishers loaned $505,000 to 73 Fishers-based businesses, helping to cover operational costs as firms responded to business changes due to the pandemic.

Here are more 2020 economic details, as provided by the City of Fishers:

Two companies selected existing office space to rehabilitate as part of their expansion plans:

  • Knowledge Services, a workforce management company, announced its plans to purchase the former Marsh Supermarkets Headquarters located in the Crosspoint Business Park. The four-story office building was completely renovated to accommodate Knowledge Services’ growing workforce at its Headquarters location. They intend to lease unused space within the building.
  • Round Room, the largest Verizon Wireless retailer in the United States, announced its intent to relocate its headquarters from Carmel to Fishers in 2020. The company plans to renovate and occupy the former Roche Diagnostics building along I-69. The company is undergoing renovations to the 193,500 square foot building and plans to lease a portion of the building to other tenants.

Class A Office space in Fishers experienced several investments by new and existing owners in 2020.

  • 10300 Kincaid Drive – formerly owned by Roche Diagnostics, this building along the I69 corridor was purchased by Round Room for their headquarters relocation. The building’s 193,500 square feet is undergoing remodeling and will be available for a partial lease end of Q1 2021.
  • 9800 Crosspoint Blvd – the former Marsh Supermarkets Headquarters building sat vacant for a few years until Knowledge Services identified it as their new headquarters location, scrapping plans to build a new corporate campus. The building has completed its remodeling and is available for a partial lease.
  • 10475 Crosspoint Blvd – the former Wiley building was purchased by an Arkansas firm. The firm plans to remodel the Class-A office space to accommodate modern office needs.
  • 9998 Crosspoint Blvd – the former Edgeworth Laskey One Concourse building was purchased by Colony Capital, which intends to remodel the Class-A office space to accommodate modern office demands.

A full recap of investments in Fishers in 2020:

  • Genezen Labs — The viral vector production contractor for gene and cell therapy previously operated out of Launch Fishers. In 2020, they announced an initial $7.8 million capital investment into a new clean manufacturing facility in the Crosspoint Business Park and plans to grow by 36 employees by 2024. After an equity investment by Ampersand Capital Partners, the investment in square footage, capital equipment, and employees is expected to be significantly greater.
  • Highbridge – The Salesforce partner’s growth in 2020 led to its announcement of establishing its HQ in Launch Fishers. The firm will lead Salesforce’s mid-size and enterprise customers’ digital transformation. Highbridge plans to hire 57 employees by 2024.
  • U.Group – The digital transformation company relocated to Launch Fishers from Washington, DC to conduct its Midwest operations in 2020.  The company plans to create up to 130 high-wage jobs as part of its growth plans.
  • RoundRoom – The largest Verizon Wireless retailer in the nation plans to relocate its headquarters to Fishers from Carmel and consolidate its 200 employees from its portfolio of subsidiaries including TCC, TCC Gives, Round Room Gives, Redux, and Culture of Good under one roof.
  • INCOG BioPharma Services– A contract development and manufacturing services provider to the biopharmaceutical industry for clinical and commercial injectable drugs will build its first manufacturing facility and global headquarters in Fishers in 2021. The company’s founders, former Cook Group executives, announced their plans to invest $60 million to build and equip a 60,000 square foot facility and bring 150 high-wage jobs to Fishers by 2024.
  • ZergNet — The digital media company announced its plans to relocate operations to Fishers from Noblesville. The firm employs 53 Hoosiers and 108 employees companywide.