Study: Indy Parks Has $107M Impact in Marion County
(photo courtesy of the IU Public Policy Institute)
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowAn analysis from the Indiana University Public Policy Institute shows the Indy Parks and Recreation system made an estimated economic impact of nearly $107 million on Marion County in 2019. Indy Parks partnered with PPI to study the economic impact of the city’s parks and programming on the communities surrounding local parks.
Researchers analyzed park programs and amenities and compared them to the prices of similar programs offered privately in order to determine their value. They found that the value of residents’ time spent in Indy Parks programming was estimated at $10.9 million in 2019. Every dollar spent generated about $3.13 in the local economy.
“This report proves what we already know: public parks serve a vital role in our neighborhoods,” said Indianapolis Mayor Joe Hogsett. “In providing fun and safe places for residents and families to gather, they represent one of our most important community resources, and should be treated as such. The past year has only underscored the need to protect and invest in our shared public spaces.”
The institute says the economic impact of Indy Parks reaches beyond programming. PPI researchers analyzed property values for homes located near local parks and found that homes within 250 feet of an Indy Parks location were valued at around $14,000 more than the average home in Marion County.
“Everyone is welcome at our parks, and our team is always looking for creative ways to make sure we are serving all community members, regardless of age or status,” said Linda Broadfoot, director of Indy Parks. “Indy Parks offered more than 2,500 events, classes, and programs in 2019, many of which came at a lower cost to families than anywhere else in the Indianapolis area. This report proves that Indy Parks is committed to removing barriers wherever we can, so everyone can enjoy our park spaces.”
According to the study, Indy Parks spent an estimated $136.3 million in direct spending, which generated an additional $98.5 million of spending in the local economy between 2015 and 2019. During the same period, Indy Parks supported about 1,818 jobs.
You can connect to the full report by clicking here.