Categorized | Commercial

Indianapolis Looks to Build its Commercial Real Estate and Job Markets

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In an effort to bolster its commercial real estate and job markets, the city of Indianapolis has struck a deal with Angie’s List Inc. According to the deal, the city will give over seven million dollars in incentives for the company to both expand its headquarters campus in the city, and also to add an additional five hundred employees.

The deal looks to have been made at the right time, as Angie’s List had initially been looking to move to sites outside the city, and even outside the state due to the high costs of renovation. The money from the deal will allow the company to stay in the city, and to purchase and renovate more commercial real estate properties.

The city of Indianapolis hopes that the deal will also lead to improvements in surrounding neighborhoods. Angie’s List has stated that they now plan to build a parking garage, as well as at least one office building.

The company has already purchased the Last Chance Towing property, which they said is an essential component of the project.

The mayor of Indianapolis, Greg Ballard, is very pleased that Angie’s List will be staying in the city. He believes that their presence, as well as planned expansion, will have a very positive impact on the future of the city, particularly with respect to the east side of town. As depressed as the real estate market has been in the city of Indianapolis, the news of this deal is definitely one that should be welcomed with open arms, as it opens a lot of opportunities for growth.

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About Drew Wilson

Drew focuses on the Commercial and Mortgage/Finance categories.

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