The Fishers City Council met Nov. 14 and approved $23 million in bonds for the new Andretti Global corporation headquarters and museum.
The issuance of the bond was unanimously approved by the council. The $200 million project is now officially underway. Construction will begin as soon as possible, with the goal of the facility being operational by 2025.
“Indiana holds an important place in the history of racing, and in my career as a driver and an owner, I’m happy to confirm that the Racing Capital of the World will continue to be the home of our global racing efforts for a long time to come,” Andretti Global Chairman/CEO Michael Andretti stated. “We’re excited about our plans for the new campus and looking forward to becoming a part of the Fishers community.”
The first discussion for the 575,000-square-foot facility was held Sept. 19, when the council unanimously approved the project agreement.
The facility will be built on 90 acres near the Nickel Plate Trail, Ritchey Woods Nature Preserve and Indianapolis Metropolitan Airport, according to Director of Community and Economic Development Megan Baumgartner.
According to Andretti Autosport, the facility plans to serve as the headquarters of Andretti’s global commercial functions and the base of operations for the team’s NTT IndyCar Series, Indy Lights and IMSA programs and other future racing initiatives.
Besides housing day-to-day operations for the racing team, the building will be home to the advanced research and development of Andretti Technologies. The collaborative campus will feature modern technologies and plans to create 500 new jobs for the area by 2026.