The Greater Indianapolis Chamber of Commerce announced its support for construction of a new Wishard Hospital and promised to “take a leadership position” to help hospital leaders win voter approval for the project.

The business trade group issued a statement today endorsing the $754 million project, saying the hospital’s plan to finance the project is sound.

Marion County voters will have to approve the plan in a Nov. 3 referendum because Wishard’s parent organization, the Health & Hospital Corp. of Marion County, will fund the project with bonds that will be backed by taxpayers in case of default.

“After thorough research and study, we find the plan for this project to be financially sound and are confident it should place no additional burden on the taxpayers of Marion County,” Chamber President Roland Dorson said in a statement.

Wishard officials announced plans to build a new hospital on July 12 after years of study. The current downtown facility is an amalgam of buildings, the average age of which is 60 years old.

The Chamber noted that Wishard spends $25 million each year on repairs and renovations.