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The world’s eyes are on Indy this weekend as we host the Final Four for the ninth time. No city in my humble opinion serves as a better host than Indy. But if we want to keep it that way, we can’t stand still.
I’ve had the privilege of serving as co-chair of this year’s Final Four Local Organizing Committee. This role, along with visits to Final Fours in Phoenix and San Antonio, has provided a firsthand look at just how competitive the race has become to host major events. Cities like Nashville, Tennessee, and Las Vegas are investing aggressively in new stadiums and infrastructure with one goal in mind: to host events like the Final Four that have become our city’s calling card.
The competition isn’t slowing down. And neither can we. Indy must up its game to keep its place among the top echelon of host cities. The sports business has become big business. It is estimated that the 2026 Final Four’s local economic impact could exceed $400 million. The sports and convention business is a cornerstone of our regional economy, supporting tens of thousands of jobs.
This didn’t happen by accident. City leaders in the 1980s made a bold, strategic decision to invest in sports as a driver of economic development and to build a vibrant downtown around it. That vision transformed Indianapolis. Today’s leaders face a different challenge: whether we are willing to keep investing to sustain and grow what they built.
I’ll admit I was skeptical when Mayor Joe Hogsett announced the city of Indianapolis would finance the new Signia convention center hotel. Projects like that are often better left to the private sector. But walking past the Indiana Convention Center toward Lucas Oil Stadium this week, it clicked. If we want to compete for the biggest events, we need the infrastructure to match. In some cases, we don’t have the luxury of waiting for the market to catch up.
We need to double down on downtown investments and economic development initiatives to entice more downtown residents. Events that attract out-of-town spending are important and exciting, but a thriving downtown requires full-time residents.
There are encouraging signs. Announced investments such as Traction Yards (the redevelopment of Circle City Mall), the new Elanco Animal Health headquarters, Indiana University Health’s new medical campus, the continued buildout of the Bottleworks District, and Indiana University and Purdue University’s downtown investments are promising. But more effort and vision must be concentrated on the beautification of downtown, including pocket parks, trees, flowers, and improved roads and sidewalks.
The latest population data sends a mixed message. In 2025, Indiana’s population grew to 6.97 million, an increase of 38,579 residents (a growth rate of 0.56%), besting that of all neighboring states. Hamilton County added the most residents of any county (7,351, a 1.9% gain) while Marion County added only 1,983 (a 0.2% gain), far below its growth of 9,886 in 2024.
Looking ahead, demographic trends will only make growth in Marion County harder. If downtown doesn’t grow, the city’s long-term competitiveness is at risk. Indy must get creative and invest in downtown growth now in order to compete for the talent and opportunities of the future.
We didn’t become the nation’s premier host city by accident. It took vision, investment and a willingness to bet on downtown.
Other cities are making that bet right now. The question is whether we will, too.•
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Feltman is publisher of IBJ and CEO of IBJ Media.
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