The Finish Line Inc. has decided to stay in Indianapolis and begin a $20 million expansion at its corporate headquarters — a project that will more than double its square footage and add 90 new jobs.
The athletic specialty retailer had contemplated moving its distribution center to the Memphis area to be closer to key vendors shipping hubs.
FINL is expected to receive a $1.3 million property tax break from the city over eight years, a factor SVP/CFO Steve Schneider says was key to staying in Indy.
“That was one of the reasons, quite frankly, we decided to stay,” said Schneider in an interview with the local paper. “That makes a big difference.”
Schneider said that FINL needed to prepare the headquarters to handle “700 or 800 stores” and a growing Internet business, which has tripled sales this year. FINL is also reportedly looking into a catalog business.
The expansion, which will double the size of the distribution center and triple corporate office space, will begin by March and be completed by August 2004.