Greater Indianapolis Chamber of Commerce

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Brownfield Redevelopment
 

In Indianapolis and other cities and towns around the country, old gas stations and industrial properties lie vacant. These vacant properties are known as brownfields. A brownfield is an abandoned, idled, or underutilized property where redevelopment can occur, but does not because of an actual or perceived environmental contamination of the area. The advent of strict federal and state environmental rules has made potential buyers and developers of these properties extremely cautious about redeveloping them, due to potential clean-up costs and legal liability. Thus, prime locations are left vacant, and companies locate facilities elsewhere to avoid the high cost of clean up. The end result is a mass out-flux of businesses and residents to surrounding communities, and a blighted urban/core city.

To encourage economic growth, state legislation should be developed to address uncertainty and liability issues that make it difficult to expand, redevelop, or sell commercial and industrial properties having real or perceived environmental contamination. A greater level of legal security should be provided to potential owners and developers in order to encourage them to turn these sites into revenue producers and restrain urban sprawl. New businesses on these sites would have the added benefits of creating jobs, reducing vandalism, and providing employment opportunities.  

City incentives should be expanded and all assistance dollars should be retrieved in order to encourage brownfield redevelopment. Tax credits would stimulate growth and redevelopment in the core-city and reduce the increase of urban sprawl. Brownfield redevelopment is a financial burden for small businesses and, as a result, the core-city suffers.

What the Greater Indianapolis Chamber is doing:

  • We supported legislation in the 2001 Indiana General Assembly to give tax credits to business that develop brownfield sites.  The legislation, which passed, allows up to $100,000 tax credit to businesses that redevelop brownfield sites. We meet with city staff responsible for brownfields to find ways to encourage more opportunities and business involvement. We encourage our members to develop brownfield sites and locate more business in the core-city when it is feasible.
  • We support legislation each year in the Indiana General Assembly that would limit a new owner or developer’s liability for redeveloping these properties.

What YOU can do:

  • Ask the city to take advantage of state tax credits to develop an abandoned site in the inner-city for your new business venture. Take advantage of business assistance programs provided by the state. Click here for more information.
  • Email your state legislator to support legislation to lessen the legal liability for developing brownfield sites. Go to Capitol Wiz.

Related Links:

 

Heard enough? Send an e-mail to your elected officials through Capitol Wiz.

Want more?  Learn about other issues dealing with Economic Development.

 

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