Indianapolis, Ind. – The Indy Fresh Market will have a one-time economic impact totaling $11.1 million, plus an annual impact of $4.6 million in wages and benefits, and related spending. An estimated 39 direct jobs and 61 full-time equivalent jobs will be added to the Marion County economy, according to a recent Indiana University Public Policy Institute study.
Announced in May 2021 and scheduled to open in late 2023, Indy Fresh Market is part of the broader revitalization of the 38th & Sheridan area, a community in Northeast Indianapolis. The 38th and Sheridan project is the result of a unique collaboration between the community, Cook Medical, Goodwill of Central & Southern Indiana, the United Northeast Community Corporation, IMPACT Central Indiana, and Martin University.
Located adjacent to and part of the collaboration, the medical device manufacturing facility operated by Goodwill Commercial Services began production of Cook Medical products earlier this year.
Like the manufacturing facility, the 16,700 square-foot grocery store is being constructed using 100% local, diverse (minority, women, disability and veteran-owned) vendors. This focus supports Cook’s continuing effort to hire employees from the surrounding neighborhood.
Neighborhood residents Michael McFarland and Marckus Williams, former owners of a neighborhood convenience store, are being trained to own and operate the grocery store. McFarland and Williams are receiving extensive training in grocery store management through a public-private partnership that includes Martin University.
“Through neighborhood meetings and conversations around the development of the manufacturing facility, we recognized that lack of access to fresh food options could be a stumbling block to residents’ success,” said Pete Yonkman, president of Cook Medical and Cook Group. “We encourage other businesses to come forward and invest time and resources in their communities. There are tangible needs, and you have the resources. We need other businesses to get involved.”
Cook and its partners engaged the Public Policy Institute to model the immediate and future economic impacts of the 38th and Sheridan project, provide a set of recommendations on instruments and metrics that will provide feedback on the project’s community impact and employment outcomes over time, and enable a long-term evaluation of this important and innovative project. An overview of their findings can be found here.
Indy Fresh Market is a collaboration between Cook, IMPACT Central Indiana, Martin University and Goodwill. As the report notes: “In the partnership, public, private, and nonprofit entities respond to the complexities created by the unique contexts, needs, and priorities of communities that have been historically and systemically left behind by economic growth and development efforts.”
Indy Fresh Market employees will have access to Goodwill’s wrap-around services including housing support, legal aid, mental/physical healthcare, case management services, substance abuse assistance, and soft skills training.
About Cook Medical
Since 1963, Cook Medical has worked closely with physicians to develop technologies that eliminate the need for open surgery. Today we invent, manufacture, and deliver a unique portfolio of medical devices to the healthcare systems of the world. Serving patients is a privilege and we demand the highest standards of quality ethics, and service. We have remained family owned so that we have the freedom to focus on what we care about: our patients, our employees, and our communities.
We believe that it’s possible to do good business while doing good in our communities. We’re proud to work in collaboration with partners on a community development effort by building both a manufacturing site and a grocery store in Indianapolis. Located at the northwest corner of 38th Street and Sheridan Avenue, the project will help people and communities reach their full potential. Find out more: www.38thandsheridan.com.
Find out more at CookMedical.com, and for the latest news, follow us on Twitter, Facebook and LinkedIn.