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Commission approves amendment reflecting TWG Motorsports Formula 1 headquarters at Fishers site
Summary
The Redevelopment Commission approved a third amendment to the project's underwriting agreement to update the project description after ownership changes; staff said the site will house a Formula 1 headquarters and be operational for the 2026 season.
The Fishers Redevelopment Commission approved a third amendment to the Andretti project agreement to reflect that TWG Motorsports (TWG) will take the lead on a Formula 1 headquarters at the Fishers site.
A staff presenter said the amendment updates the project description to reflect that Andretti is now part of TWG Motorsports and that TWG will operate a Formula 1 facility in Fishers. The presenter described the change as increasing local investment and moving the planned facility to operate as a Formula 1 headquarters rather than the previously discussed Andretti headquarters and museum.
Why it matters: the amendment aligns project documents with the developer's revised plans and clarifies which corporate entity will be responsible for moving the project forward. Staff told commissioners the facility is expected to be operational in time for the 2026 Formula 1 season and that interior renovations and new technology investment will begin soon.
Staff comments included statements that the site will be "one of 12 international Formula 1 headquarters calling Fishers home," and that the change "is actually a little bit more investment in the city." The transcript also records staff explaining there is a regulatory requirement that the facility be used for Formula 1 operations, and that TWG would track investment and employee-related spending in relation to the project's incentive commitments.
Action taken: a motion and second were made to approve the third amendment; commissioners voted in favor and the motion carried. The transcript recorded the vote verbally as "aye" and the chair declared the motion carried.
Implementation notes: staff said interior renovations will begin in the coming weeks and that the project must be operational to participate in the 2026 Formula 1 season. The transcript distinguishes the corporate name TWG Motorsports from other similarly named local development entities; staff clarified that "TWG is not related to TWG development" in the discussion.
Sources: staff presentation and commission vote during the meeting.
