Business View Magazine | September 2020

219 BUSINESS VIEW MAGAZINE SEPTEMBER 2020 F I SHERS , INDI ANA truly reflect the same entrepreneurial spirit that the city has. So, it’s been an exciting time to be a part of Fishers’ trajectory.” “We’re a home for the innovator and the entrepreneur,” echoes Megan Baumgartner, Fishers’ Director of Economic Development. “I think that’s how we look at our economic development strategy. The leaders of these businesses have an interest in making their mark within the community that they have their business in. So, we try to serve as a resource and a partner for these businesses, celebrating their growth. And a lot of them live here, because we offer them a great quality of life. A key part of our economic development strategy is giving people great opportunities in the community so that they’re not commuting 30-45 minutes one way, each day, and are truly able to achieve everything that they want in their career within our community. We really pride ourselves on creating relationships with our existing businesses. It’s a selling point when we talk to companies about relocating and becoming part of the Fishers business community.” Another way in which Fishers caters to potential incoming entrepreneurs and innovators is by promulgating economic development programs that are equally creative. One such initiative is the city’s Master Lease program. In a Master Lease agreement, the buyer gains equitable title to a property, which means all of the profits and tax benefits go to the buyer. In this arrangement, the buyer is also responsible for everything involved with the property, such as management, maintenance, utilities, taxes, etc., while the seller remains the legal owner of the property and receives monthly lease payments from the buyer. A major perk in a Master Lease is that the title and any loan on the property are still in the seller’s name; in this case the City of Fishers. If the buyer has little experience, or poor or no credit, it can still get a bank loan to develop the property and the business therein, by using the good credit of the city.