Study Shows Indy Zoo’s Major Economic Impact
(photo courtesy of Indianapolis Zoo)
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowA new study projects the overall economic impact of the Indianapolis Zoo over a 15-year period to be more than $880 million. The zoo says the study, conducted by Pennsylvania-based Zoo Advisors LLC analyzed the impact of zoo operations, tourism revenues, and capital improvement projects from 2014 to 2029.
The zoo says 63% of its 1 million annual visitors are from outside of Indianapolis, with 20% of those coming from outside the state. According to the study, spending by tourists outside of the Indy area is projected to total nearly $650 million during the 15-year period.
“The Indianapolis Zoo is a world-class attraction and a key tourism driver for Indy,” said Leonard Hoops, chief executive officer of Visit Indy. “Pre-pandemic, our region drew nearly 30 million visitors a year; our award-winning Zoo was a major reason for those numbers and will be critical to helping us get back to those lofty levels and beyond, especially among leisure travelers. It’s also worth noting that over a 15-year period, the Zoo supports more than 6,200 jobs and many of those positions are part of our ever-growing tourism workforce.”
The study suggests the zoo also generates $31 million in tax revenue. The study analyzed capital improvement projects, both actual and projected, and the zoo says with its planned investments over the next nine years, its economic impact is projected to average nearly $60 million per year.
“The Indianapolis Zoo should be proud of the tremendous impact it has had on the local economy,” said Zachary Winfield, vice president of Zoo Advisors. “Not only has the organization been a wise steward of its financial support, the Zoo strengthens its community with family-friendly activities, educational programming, and the bold trail in conservation it has blazed. As demonstrated in our report, the Zoo’s impact will only increase in upcoming years, and it will continue to be a cornerstone driver of the Indianapolis regional economy.”
You can read more from the report in the document below: