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Collaboration in a region on the move

Take a look at our region's current business landscape and you’ll see a vibrant product of creative strategies and do-what-it-takes attitudes. Also, an unprecedented spirit of collaboration sets Indianapolis apart from other cities attempting similar approaches to economic development.

Indianapolis ranks #5 among the Least Expensive large US Cities for Doing Business.
- KPMG Competitive Alternatives, 2004

Site Selection magazine named Indiana #1 in competitiveness for business investment (May 2004).

A central location and existing infrastructure has made greater Indianapolis ideal to growth and development in all directions out from the circle center. The nine-county area surrounding the center and capital of the state, Indianapolis, is referred to as “greater Indianapolis” or the “Indianapolis region.” The nine counties of the region include: Boone, Hamilton, Hancock, Hendricks, Johnson, Madison, Marion (Indianapolis), Morgan, and Shelby.

The Indianapolis region has positioned itself for the future by having considerable assets and solid potential for growth. In the life sciences industry, for example, the region can leverage the presence of companies such as Guidant Corp., Anthem, Roche Diagnostics Corp and Eli Lilly and Company, as well as leading universities and other enterprises. In logistics, it can make the most of the region’s central location and its existing transportation infrastructure.

In the sports world, spawned by the nearly 100-year-old Indianapolis Motor Speedway, hundreds of motorsports companies, with more than $300 million each year in wages, have developed a clear industry cluster in the region. Motorsports and the Indianapolis region are major players in a business that has the potential to become an economic engine for the future.

But this build-on-existing-assets approach does not mean the region believes the mere presence of these assets is enough to fuel growth. Area business and community leaders dedicate considerable resources to development efforts, and area colleges and universities assist with incubators and research support.

Indianapolis boasts a number of impressive incentives such as tax abatement, training grants and a number of tax credits. All levels of government have helped to create a business-friendly environment. Inventory taxes are in the process of being phased out, research tax credits have been increased and corporate gross income taxes have been eliminated. There is no corporate franchise tax, and no sales and use taxes on materials and equipment used in production

To learn more, visit Indianapolis Economic Development.

Certified Technology Parks

Technology clusters

Interstate 69 is morphing into an elongated technology belt, connecting clusters of innovative activity. Innovation thrives in areas where new ideas abound. The I-69 technology belt facilitates intercommunity collaboration. Other clusters are developing around Bloomington/Crane and along I-65, from Lebanon to Greater Lafayette to Gary/Hammond.

The Indiana Department of Commerce is encouraging high-tech business development by offering special taxing districts called “Certified Technology Parks.” Seven of which are located within the I-69 belt.

The state of Indiana also created the 21st Century Research and Technology Fund to promote economic diversity through the commercialization of technological innovation. The fund actually requires participation by a mix of academic and private sector entities.

Life Sciences

With the nation’s 2nd largest medical school, remarkable growth in venture capital resources, and a host of industry assets like Eli Lilly, Roche Diagnostics, Guidant and Dow AgroSciences, Indianapolis is the ideal location for new and growing life sciences companies.

Life sciences is another powerhouse sector that continues to do well. Although there is an abundance of bio-technology companies in the city, there is still plenty of opportunities for entities who might want a piece of the pie.

Sports Industries

Being home to the two largest single-day spectator sporting events in the world – the Indianapolis 500 and the Brickyard 400 – aren’t the only reasons that Indianapolis is a magnet for sports industries. Recognized as the Amateur Sports Capital of the World, Indianapolis hosts internationally known events such as the Indianapolis 500, NCAA Final Four, Brickyard 400 and the United States Grand Prix Formula One race. Since 1979, there have been over 400 national and international sporting events in Indianapolis, with an economic impact of over $2 billion dollars.

Business Information

Find demographic and economic data, links to various business resources and more in our News & Resources section.

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