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Development efforts in Indianapolis received big boosts in 2022 with significant investments. The Department of Metropolitan Development, DMD, reports $1.1 billion in capital investments this year with 64 projects and more than 8,500 good-paying jobs.
Large projects from big companies, including Rolls Royce and Elanco, are significant to development, but many midsize projects offer growth opportunities.
In her new role as Deputy Mayor of Economic Development Scarlett Andrews said the moves are part of DMD’s inclusive growth policies.
“Not only economic development but what that means for neighborhoods and investing in things like affordable housing and neighborhood quality of life,” Andrews said.
The city used different funding models, including TIF, community development block grants and payment in lieu of taxes, to focus on building residential units, including more than 900 affordable units.
“Part of our focus has been to create more housing on those sites and to leverage our tools for some affordable units on some of those sites, to create more density in neighborhoods,” Andrews said.
DMD also offered a record amount of redevelopment opportunities for private development projects in 2022. The city requested proposals for nine different sites, including Sherman Park, the old Jail II and the Twin Aire Drive-In sites and Central State locations.
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