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.
December 12, 2022
A banner year for development in Indianapolis
Support independent journalism today. You rely on WFYI to stay informed, and we depend on you to make our work possible. Donate to power our nonprofit reporting today. Give now.
Related News
Local News / April 27, 2024
Indiana voters to pick party candidates in competitive, multimillion dollar primaries
The results of some primary elections in Indiana could determine the outcome of the general election in a deep red state where Republicans hold a supermajority in both chambers of the state legislature and GOP politicians lead many top offices. The primaries will be held May 7.
Read MoreLocal News / April 26, 2024
Meet the two candidates running to represent the far east side
Bartlett, who has held the seat since 2007, has only been challenged in one primary.
Read MoreLocal News / April 26, 2024
IMPD announces significant expansion of its drone program
Each drone and its equipment costs about $6,000, and the city is investing in a total of 30 for the current rollout.
Read More