IBJNews

Chamber to merge with economic development groups

Back to TopCommentsE-mailPrintBookmark and Share

The Greater Indianapolis Chamber of Commerce will lead economic development efforts for central Indiana as the result of a merger between four organizations approved Thursday.

The chamber will merge with Develop Indy, the economic development group for Marion County, as well as Indy Partnership and Business Ownership Initiative, the groups announced.

Indianapolis Mayor Greg Ballard and leaders of the four organizations approved the merger.

The merger has been in the works since Scott Miller, the former head of Develop Indy, became the chamber president in October. The proposed merger didn’t sit well with some members of the Indy Partnership, which represents surrounding counties.

But Miller said he thinks the merger will result in more money spent on marketing the city and region, as well as more economic development representatives out in the field, rather than doing administrative tasks. Indy Chamber’s revenue, about $5 million in 2011, will probably rise to $8 million to $10 million after the merger, he said Thursday. “We are actually hoping to grow those dollars.”

The chamber will grow from 30 employees to 50, he said.

The chamber has nearly 3,000 business members representing 235,000 employees in central Indiana, making it one of the largest regional chambers of commerce in the country.

Denver, Louisville, Nashville and Houston all have combined chambers of commerce and economic development organizations, according to Indy Chamber.

Each of the merged organizations will operate as a business unit of the chamber. Develop Indy is the largest of the three, with $2.9 million in revenue in 2010, according to the most recent tax information. Its not-for-profit board of directors was appointed by Ballard, and a large part of its funding has come from the Indianapolis Bond Bank.

“Aligning the strategic resources of these organizations with those of the chamber will better position our efforts to attract new jobs and grow existing companies,” Ballard said in a prepared statement. “The organizations’ shared goals of economic vitality and success for Indianapolis will only strengthen as we move forward in building a better future for our Hoosier work force.”

Indy Partnership has technically been part of Develop Indy, but it will become a separately operated and branded business unit, Miller said.

The Business Ownership Initiative, another division of Develop Indy that works with start-ups and provides micro loans, will also become a separate business unit.

All three of the merged organizations and the chamber have their offices in the Chase Tower in downtown Indianapolis. Miller said the transition team will be looking at future office space.

ADVERTISEMENT

  • Explain please
    I guess I don't see the politics involved.
  • Why stop here
    Why isn't the Central Indiana Corporate Partnership and Greater Indianapolis Progress Committee included in this consolidation?


  • way off target.
    My Not surprized. You have taken some great organizations. And turned them into politics. Col. Lilly is turning in is grave. Quoting former Mayor Hudnut. Check your politcs at the door. It is about the city. I thought it was about business. No it is just politics. A sad day in Indy. Oh ya next time you send a survey. I.e. The Chamber. Why send to ask our opinion. When you have already made a choice. We are not Nashville.

    Post a comment to this story

    COMMENTS POLICY
    We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
     
    You are legally responsible for what you post and your anonymity is not guaranteed.
     
    Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
     
    No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
     
    We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
     

    Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

    Sponsored by
    ADVERTISEMENT

    facebook - twitter on Facebook & Twitter

    Follow on TwitterFollow IBJ on Facebook:
    Follow on TwitterFollow IBJ's Tweets on these topics:
     
    Subscribe to IBJ
    1. Angela IS the best RD

    2. We are a nation of speed. All of our younger lives are filled with deadlines, quotas and bottom lines. We start to ease out of the pressured rat-race when we finally see "retirement." The most enjoyable travel on the planet is passenger rail service. Indy to Chicago does not beat Megabus or Southwest Airlines in speed. Passenger rail however has the best seating, mammoth legroon, seat backs that recline to more than 45 degrees and employers that really want you to return as a customer. Indiana municipalities need to maintain subsidies to support this transportation mode. Losing it is loss for all of us.

    3. Good day! I just want to testify how i got my loan from Mr. Eric Lefkofsky after i applied several times from various loan lenders who claimed to also testify right in this forum,i thought the testimonies where real and i applied but they never gave me loan. I was in need of an urgent loan to start a business and i applied from various loan lenders who promised to help but they never gave me the loan. Until a friend of mine introduce me to this popular Mr. Eric Lefkofsky who promised to help me and indeed he did as he promised without any form of delay. I never thought there are still reliable loan lenders until i met Mr. Eric lefkofsky who indeed helped me with the loan and changed my belief. I promised to share this testimony after I got my loan. I don't know if you are in any way in need of a genuine and urgent loan,free feel to contact Mr. Eric Lefkofsky via their email{grouponfunding@hotmail.com}

    4. Its a THUG issue. Bleecker Street and NYX are thug bars. They attract thugs of all races. Places that attract thugs need to be kicked out of Broad Ripple. Ain't nobody got time for that!

    5. Hello everyone, My name is Marian Gareth, I am from the Texas, United State, am here to testify of how i got my loan from Mr Andre Frank {frankloancompany@yahoo.com} after i applied Two times from various loan lenders who claimed to be lenders right in this forum,i thought their lending where real and i applied but they never gave me loan. I was in need of an urgent loan to start a business and i applied from various loan lenders who promised to help but they never gave me the loan.Until a friend of mine introduce me to Mr Andre Frank the C.E.O of Andre Frank Loan Company who promised to help me with a loan of my desire and he really did as he promised without any form of delay, I never thought there are still reliable loan lenders until i met Mr Andre Frank, who really help me with my loan and changed my lief for better. I don't know if you are in need of an urgent loan, free feel to contact Mr Andre Frank on his email{ Frankloancompany@yahoo.com} for help

    ADVERTISEMENT