August 2024
The Indianapolis market is currently undergoing significant business expansion and hosting numerous national events, leading to a notable increase in tourism and a boost in economic development for the region.
The Indiana Convention Center expansion projected to bring in over $2.3 billion in convention business.
What This Means For You: The expansion project, with a completion scheduled for fall of 2026, has already translated to $1.3 billion in conventions that have committed to staying in Indy and an additional $1 billion in new conventions coming soon.
Indianapolis expected to have its largest tourism year yet.
What This Means For You: Between major attractions such as the NBA All-Star Game, the NFL Combine, the Indy 500, Lucas Oil Stadium, and the U.S. Olympic swimming trials, this year’s anticipated tourism is expected to bring an economic boost to the city.
Indianapolis-based information technology services firm Sondhi Solutions plans a major expansion.
What This Means For You: Sondhi signed an agreement with the Indiana Economic Development Corp. that qualifies the company for up to $3.8 million in state tax credits if it adds 250 new employees by the end of 2028.
The ribbon was cut on the new Eskenazi Health Thomas & Arlene Grande Campus on the east side of Indianapolis.
What This Means For You: The new 95,000-square-foot facility has been touted as Eskenazi Health’s most comprehensive, innovative, and community-focused health center on the east side of Indianapolis. This center is part of a nearly $90 million investment in capital improvements to primary care facilities across Marion County.
A 95,000-sqft building in the process of being redeveloped at the Circle City Industrial Complex will be home to several new businesses.
What This Means For You: The new building will include various retail stores, restaurants, and office spaces with a focus on local businesses — and it already has eight businesses all slated to open in fall 2024.
Toyota Material Handling will break ground at the end of the month on a nearly $100 million expansion of its headquarters campus in nearby Columbus.
What This Means For You: The project involves the construction of a 295,000-square-foot manufacturing facility and will create 85 jobs. Columbus is roughly 45 miles southeast of Indianapolis.
New York-based book publisher Penguin Random House is investing up to $50 million to expand its distribution and fulfillment center in nearby Crawfordsville.
What This Means For You: Mayor Barton says, “This new investment in their Crawfordsville operations further solidifies their position as an industry leader and as a premier employer in our region.” Construction on the expansion is slated to begin late this summer, with completion set for the end of 2026. Crawfordsville is roughly 50 miles northwest of Indianapolis.
