The Crossroads of America. The Circle City. Hoosier Country. Whatever you might call us, one thing is constant: Indianapolis, Indiana, is evolving. It is a thriving metropolis, seeing investment and growth in emerging industries like digital technology and life sciences and more traditional industries like logistics and manufacturing.

Investment of this nature, however, has not and will not continue to come easily. Indianapolis has worked to overcome a downturn in the economy, shifted with new and emerging technologies, and turned the perception of smokestacks and cornfields to chem labs and tech centers.

For some 15 years now, civic, community, and corporate leaders have invested in ways to rebuild and reshape not only the local economy but the urban core, neighborhoods, and schools. Those of us who work here understand that in order to build a city in which business wants to invest and to which talent flocks, we must take a comprehensive approach to deliver on all aspects of what makes a metropolis thrive.

As the economy shifted from manufacturing, Indianapolis neighborhoods were forced to shift too. Efforts to keep these neighborhoods from crumbling led city leaders to strategically plan and invest in opportunities to lure business and jobs back through redevelopment and creative reuse of properties.

Understanding that investment in economic vitality is a never-ending cycle, city officials rely heavily on partnerships with private and community investors on sustainable redevelopment. Redevelopment projects have been undertaken targeting strategic clusters—from life sciences at a development called 16 Tech to assisting in the expansion of Angie’s List headquarters on the near east side, creating Indy’s newest cultural district spurred by the redevelopment of the former Market Square Arena site downtown.

Setting the Stage

The Indianapolis region is known for life sciences technology and research as well as the employment opportunities offered by them. It is now the home for Eli Lilly, Roche Diagnostics, and potentially the Indiana Biosciences Research Institute, which is a research institute that promotes collaboration among industry leaders.

Understanding this, the city began planning 16 Tech. A state-of-the-art business park that sits on 170 acres is being designed to meet the specific needs of those in life sciences and information technology—two sectors whose livelihood is based on innovation and collaboration.

The project location was planned within close proximity to three universities and several companies, offering recruiting and partnering advantages for them. This strategy has been approved by the life sciences industry, and it is also a boost to neighborhoods surrounding the development.

As plans were developed for the 16 Tech business park, the neighborhood was involved every step of the way. Additions of major infrastructure improvements to roads and bridges, new sidewalks, and plans for walking and biking paths are planned with the neighborhood in mind.

The 16 Tech business park is located within the original BioCrossroads Corridor, which was developed to jumpstart the city’s life sciences industry. As a certified technology park, the project brought in $5 million in seed money, including $1.1 million for streetscape projects. Those neighborhood improvement projects served as a catalyst for the future development of 16 Tech.Salvaging History through Smart Use

A strategy woven throughout Indianapolis and the nation too is that public investment in quality infrastructure leads to increased investment from the private sector. Case in point is the private redevelopment of Indy’s Bush Stadium property, located in the heart of 16 Tech.

The previous home to the Indianapolis Indians minor league baseball team that was turned into an auto racing dirt track, Bush Stadium sat unused for a decade until in 2008 it became a storage site for vehicles traded in as part of the federal Cash for Clunkers program. Now the city has partnered with a private developer to turn the historic baseball stadium into state-of-the-art loft apartments, providing quality housing for young professionals and students in health care and life sciences.

The Ripple Effect

Public/private partnerships are key components to the investment and redevelopment of the Indianapolis-based Angie’s List headquarters. Located just east of downtown Indianapolis, the company had outgrown its location and was in the process of looking for new locations outside of Indianapolis that would better accommodate its needs.

In an effort to retain these jobs, staff worked closely with Angie’s List officials and real estate developers to fund the expansion of its existing headquarters through tax incentives, infrastructure upgrades, and more. The expansion included the takeover of 13 adjacent properties in which the company made upgrades and fashioned a patchwork style campus to meet the needs of the company and its employees.

Angie’s List’s corporate culture involves making a positive impact. This translates to their employees as well as to the urban environment they call home. Angie’s List worked with local neighborhood groups and the city to renovate historic buildings in order to expand their footprint in their near east side community.

Investment Ignites Innovation

Perhaps the most anticipated redevelopment project in Indy is one that has yet to even break ground. In 2001, the famed Market Square Arena (MSA), former home to the Indiana Pacers, was razed as the team moved down the street to what is now Banker’s Life Fieldhouse.

After years of failed proposals and speculation as to what type of development could survive on the site, the city backed two proposals. Construction is set to begin on phase one of the redevelopment, which includes a 28-story residential tower and a Whole Foods market.

Soon after the city approved the residential tower proposal, Cummins, Inc., announced plans to build a global division headquarters on the MSA lot adjacent to the tower development, bringing with them 400 employees in jobs, including legal, information technology and communications.

These two developments, coupled with the recently opened $62 million Artistry apartments just east of the Market Square site and the planned $20 million IndyGo transit hub to the south, will help attract residents and visitors to downtown’s east side which, in recent years, has lacked much after-hours traffic necessary to support new investment by any business.

Plans are currently underway to brand the 14-square-block area into Indy’s seventh cultural district, appropriately named Market East. The influx of investment into this area, which includes both public and private dollars, has rejuvenated this side of town, which houses city hall, the historic City Market, and is just two blocks away from Monument Circle, which is located in the center of downtown Indianapolis.

2020 Vision

As Indianapolis undergoes this great evolution, more and more investment is made not only downtown but in neighborhoods and business centers throughout the county. Work is being done with the vision of improving and providing a strong economy, strong neighborhoods, and strong sense of pride that hopefully will continue for generations.

In 2020, Indianapolis will celebrate its bicentennial. City leaders have been laying the groundwork for what is known as Plan 2020, an initiative that will provide investment and enhancement opportunities. The city also plans to strengthen livability through investment in infrastructure, parks, and public safety.

So the next time you’re driving through our community, take a stroll on one of the pedestrian paths or wheel down one of Indy’s new bike trails and street lanes. It’s guaranteed that you will notice the hum of a bulldozer or the bang of a hammer because the city’s work is definitely not done.

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