CARMEL, Ind. — One of the largest regional airlines in the country is about to become the city of Carmel's biggest employer.
Republic Airways is moving its training facilities and corporate headquarters to Carmel, a project that will create approximately 1,900 new jobs. The $200 million investment is the most invested by a single company in the city's history.
Republic will be a part of a redevelopment project along the Meridian (U.S. 31) Corporate Corridor. This project will increase the daily flow of people coming into an area that was hurt by upgrades to U.S. 31 that resulted in the loss of direct access from the highway.
The site will include:
- Republic's headquarters
- A high-tech training facility for pilots, technicians, flight attendants and other positions within the airline
- The expansion of an adjacent hotel
- A new parking garage wrapped with commercial amenities on the first floor and multifamily living above
Construction will begin with the 105,000 square foot training facility, which will be visible to travelers on U.S. 31. The hotel adjacent to the training center will be expanded and used exclusively to accommodate trainees, visiting instructors, business partners and others traveling to the aviation campus.
The City of Carmel will also invest in the project through a Tax Incremental Financing (TIF) bond that will be considered for approval by the Carmel City Council.
The TIF bond will be used for infrastructure improvements, which will benefit and support both the public and the private corporate employees and visitors. Site development, parking facilities, streets and other infrastructure improvements will be funded by the increase in property tax revenues from the new building.
The bonds will be backed solely by Republic Airways and the City of Carmel, and, according to city officials, taxpayers will have no liability.
A key part of the development will be the City of Carmel’s role in financing the construction of a new parking garage that will be used to produce more revenue.
The parking garage will be wrapped with commercial amenities on the first floor and multifamily living above, providing shopping and dining options. These buildings will be operational 365 days a year.