You may know that large grassy and wooded area located on the southwest corner of 126th Street and Cumberland Road.  That will be the home of Stevanato, an Italian firm dealing with pharma. In Fishers, the firm will be manufacturing medical vials and syringes.

Monday night, the Fishers City Council voted for an economic development package that lured the European firm to the city.  Economic Development Director Megan Baumgartner told the council Stevanato plans to have 250 people working in the new facility with an average wage of $70,000.  The firm commits to a $140 million investment in the Fishers location.

In exchange, the city will buy land from Sunbeam Development and transfer just under 36 acres for the Stevanato complex.  The council authorized a 15-year, 100% personal property tax abatement and a $2.4 million commercial property grant.  The state of Indiana also has an incentive package, based on the actual number of jobs working in the Fishers Stevanato operation.

Stevanato wants to begin construction in Fishers during fall of this year, but could wait until spring of 2022 if needed to begin the project.

Katie Culp of KSM Location Advisors handled the site location process for Stevanato, and once Stevanato decided to locate in Indiana, the process of selection was “extremely competitive” as many communities around Indianapolis vied for the Stevanato plant.

“What I think sets Fishers apart was its economic development strategy,” Culp told council members.  “Rather than coming to the first meeting with a cookie-cutter solution, they listened to what the needs of the clients were.”

The city also will provide the infrastructure for Stevanato at the 126th Street and Cumberland Road.

The Italian owners of Stevanato were hoping to appear at Monday night’s council meeting, but COVID-related travel restrictions prevented that, according to Culp.