Indy Touts 2021 Business Development Despite Pandemic
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As 2021 winds down, economic development officials in Indianapolis are touting business growth and job creation over the past 12 months. Develop Indy, the city’s economic development agency, says it pursued 71 companies to relocate or expand in Marion County. The organization says as a result, more than 4,500 new jobs were created, 2,500 jobs were retained, and more than $570 million in new investments were made.
The city says the numbers show it was able to overcome the economic disruption of the pandemic.
“As we’re watching development in Indianapolis continue to change, we’re making some critical decisions about city-county real estate, which allows for better investment opportunities and placemaking for our residents,” said Portia Bailey-Bernard, vice president of Develop Indy.
Bailey-Bernard says many of the announcements include projects near downtown, including a $250 million redevelopment project of Elevator Hill on the city’s near east side. Developer 1820 Ventures announced plans to create a commercial district on the former site of the Angie’s List campus.
In August, SomeraRoad announced plans for a $60 million redevelopment of the former Stutz Building into a mixed-use project offering retail, dining, offices, and art studios.
Develop Indy also says a number of the city’s tech companies announced expansion plans.