Greater Indianapolis Chamber of Commerce

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Economic Growth
 

Economic Growth: the increase or expansion of the production, distribution and consumption of goods and services based on the overall wealth of the economy.

Central Indiana must build on its success in maintaining a prosperous business climate. Specific attention must be directed to revitalizing the core city and finding new and creative ways to attract mixed-use development into urban neighborhoods, creating jobs and a more solid tax base in the inner city to keep both the downtown and regional areas financially stable. Affordable housing and increased safety and security are also key elements to the economic vitality in the city's core. This includes the business districts in the middle part of the city which are experiencing decline, such as older retail and service centers located between Center Township and I-465. A strong core city is the critical element for overall regional growth!

The key to central Indiana's economic stability is the health of its regional business climate. Regional issues such as improved transportation, workforce, comprehensive growth planning and coordinated policy-making will affect the health of the business community in central Indiana. While the last decade has seen tremendous change and growth, a sound vision must be developed to sustain the current economy and avoid the pitfalls of unplanned growth in the future.

The Chamber Advocates:

  • Marion County Comprehensive Plan - The City of Indianapolis' Comprehensive Plan for community development should be updated with a countywide approach, include issues which affect consolidated cities, increase allowance for mixed-use development, and recognize development which crosses county lines and the municipal coordination necessary to sustain it.
  • Redevelopment and Revitalization - The City of Indianapolis should develop an expedient process to encourage redevelopment and revitalization initiatives.
  • Encourage Brownfield Redevelopment - State legislation should be expanded to address regulatory and legal issues which make it difficult to redevelop brownfield sites. City incentives should be expanded, all assistance dollars available should be retrieved, and the City's brownfield coordinator staff position should be reinstated.
  • Maintain Countywide Zoning - The City of Indianapolis should maintain a countywide approach to zoning, rezoning and variances.
  • Airport Expansion - The City of Indianapolis should continue to implement plans for the airport's new midfield terminal, improvements of I-70, and the need to create direct airline service to and from cities and regions important to emerging businesses in central Indiana, including international destinations.
  • Regional Economic Development Coalition - A coalition of regional economic development organizations should be formed to foster communication, marketing, planning and the use of economic development incentives across the region.
  • I-69: International Trade Corridor - The State of Indiana must act swiftly and decisively to capture existing federal funds and implement the expansion of Interstate 69 from Evansville to Indianapolis.
  • A Development Vision for Central Indiana - A regional vision for economic prosperity in central Indiana must be established to guide policy makers and business leaders in making central Indiana more competitive in the global marketplace, and an even more attractive place to locate and/or expand business and job growth. Elements of that vision should include:
    • Balance among regional, inner city, and "mid city" redevelopment
    • Thoughtful and reasonable approaches to land-use planning, transportation and infrastructure planning
    • Cooperation between business and government sectors
    • Preference toward private investment with government support
    • Municipal government cooperation region-wide and across boundaries