FISHERS - One of the world’s largest retailer’s plans to open a new store in Fishers, Indiana. IKEA’s proposal to invest $40 million and build a 296,000 square foot store, which could open by the fall of 2017, puts Fishers on the map says Reed Lions, IKEA real estate manager.
"IKEA is a destination retailer, attracting many customers within an hour away as well as regional shoppers who are known to drive great distances to access our stores." Said Lions at a press conference Tuesday.
The Swedish store will bring about 500 construction jobs and 250 store jobs to Fishers. Michael Hicks, a distinguished professor of economics at Ball State, says Fishers will also benefit from sales and property tax revenue.
"Ultimately, they’re going to get 1-1.5% of that investment in the long run." Commented Hicks.
IKEA has been scoping out central Indiana for at least the last five years and the site on the southeast corner of 116th St and I-69 was chosen for its high visibility. Fisher’s Mayor Scott Fadness, says the move creates momentum for the growing city.
"To be a smart vibrant and entrepreneurial city and have IKEA, what I think is a very smart, vibrant and entrepreneurial and elite, frankly, retailer come to our community…. It’s a huge puzzle piece in creating the identity for the City of Fishers." Said Fadness.
The Fishers council, that will have to give economic and zoning approval, will consider a waiver of permitting fees. The store could break ground as early as next summer.
In an Indy Star survey earlier this year, people ranked IKEA as their most-wished-for retailer.