Andretti's New $200 Million Headquarters Will Be State Subsidized
Image: Andretti Autosport
While Andretti Autosport is most well-known for its exploits in the NTT IndyCar Series, the organization has a competitive presence in various racing series from the ABB FIA Formula E World Championship to the Repco Supercars Championship in Australia. Andretti Global, the parent company of Andretti Autosport, has announced today the intention to build a new 575,000-square-foot facility to serve as the organization’s global headquarters. Almost a tenth of the headquarters’ construction costs could be recouped in tax credits.
Andretti Global selected a 90-acre site in Fishers, Indiana for the location of its future $200 million headquarters. Fishers is located roughly 19 miles northeast of the Indianapolis Motor Speedway. The facilities’ cost will likely be partly subsidized by the Indiana Economic Development Corporation (IEDC). Andretti Autosport could receive up to $19 million in conditional tax credits pending the approval of the IEDC board of directors. The project will break ground 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 cement our state’s leadership position in Motorsports and STEM related pursuits. This new campus will not only bring new, exciting employment opportunities and serve as an asset for one of our fastest growing communities but will also show just how much this living legacy, one of the most globally iconic brands known, continues to invest in the future of our great state.”
Andretti Autosport has stated the new headquarters will serve as the base of operations for its IndyCar, Indy Lights and IMSA programs. The organization also said that it would also be the base for “other future racing initiatives.” It isn’t a secret that Michael Andretti has ambitions of entering Formula 1. With Andretti’s Formula 1 aims in mind, the rendering of the headquarters with its artificial water feature is strikingly similar to the McLaren Technology Centre.
Andretti’s new global headquarters will also feature an indoor amphitheater, a museum and an innovation center. A year after opening, the facility is expected to add up to 500 jobs to the Fishers, Indiana community. Besides the millions of dollars in tax credits, the project has also received additional unspecified incentives from the City of Fishers.
