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Council approves incentives for California life‑sciences company relocating to Fishers
Summary
The Fishers City Council approved a package including a 10‑year vacant‑building abatement, a 10‑year personal‑property abatement and related resolutions to support 1 11’s move to a vacant industrial building in Fishers; the company expects to invest millions and hire about 120 employees over 10 years.
The Fishers City Council on Monday approved an economic development agreement and two tax‑abatement measures to support 1 11, a California life‑sciences company relocating its compounding pharmacy and related services to a vacant building in Fishers.
The council voted to approve the economic development agreement (item 11), to adopt a declaratory resolution beginning the vacant‑building tax‑abatement process (item 12) and to approve the company’s statement of benefits (item 14). Council members recorded aye votes during roll calls for each item; each motion passed on a majority voice/roll‑call vote.
The measures are intended to support 1 11’s planned investment in the former Juno Lighting building at 12001 Exit 5 Parkway. Meghan (economic development staff) told the council the company plans to invest “anywhere between $7 and $10,000,000” in building improvements and equipment, and expects to create about 120 jobs over the next 10 years with average salaries around $90,000.
Why it matters: Council economic development staff said the incentives are aimed at reusing a long‑vacant building and expanding Fishers’ life‑sciences cluster. The package includes a 10‑year, 100% vacant‑building tax abatement and a 10‑year, 100% personal‑property abatement; staff said the building currently carries roughly $120,000 in taxes annually and that the abatements are part of the inducement to secure the tenant.
What council discussed: Economic development staff highlighted that 1 11 plans vertical integration — starting as a compounding pharmacy with plans to add an eHealth patient navigation service and, eventually, in‑house peptide manufacturing. The council asked clarifying questions and voted without extended debate.
Next steps: Council adopted the declaratory resolution and the statement of benefits so the company can proceed with its planned improvements and tax‑incentive processes. Staff will return with implementation details, including final abatement paperwork and related compliance requirements.
Ending: Council members congratulated the company’s principals, who attended the meeting, and welcomed them back to Indiana.
