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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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A great way to enable Indianapolis to invest more in the beautification of downtown would be the state of Indiana not requiring that the city of Indianapolis divert money from other areas of their budget in order to unlock additional road funding that are treated as matching funds. Because right now, the choice is parks or roads, the state won’t let Indianapolis have both.
IBJ, a great way to help city leaders move the city forward would be to call out the Legislature for their anti-Indianapolis policies.
+1
Downtown Progress and Future Enhancement Strategies
Overview of Downtown Achievements
Nate has provided excellent insights into the accomplishments achieved in the downtown area so far. His observations highlight the importance of continued progress and the necessity for ongoing efforts; remaining static is not an option for the downtown’s continued success.
Areas for Future Improvement
To further enhance the downtown experience, two primary focus areas have been identified:
1. Elevated Maintenance Standards:
There is a need to establish a higher standard of maintenance for downtown infrastructure. This includes key features such as sidewalks, Market Street, the canal, and other public spaces. By improving the upkeep and appearance of these areas, downtown can offer a more inviting and functional environment for residents and visitors alike.
2. Inclusive Mobility Solutions:
Ensuring mobility for all visitors remains a vital goal. Efforts should continue to enhance the bicycle infrastructure, making it more accessible and user-friendly. Additionally, introducing designated autonomous mini buses that connect major venues throughout the greater downtown area will provide convenient transportation options, further supporting connectivity and accessibility.
BIG plus. If we want to grow the number of people getting into Downtown, then we have to bring them without their cars. There’s a physical limit to how many people we can bring in with their motor vehicles, regardless of how much parking is built (which is already overbuilt).
“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”
Kudos to Nate Feltman for advocating for the importance of the city maintaining a thriving downtown, not only to keep Indy’s competitive position in attracting large conventions, which is important, but also the importance of increasing the core population of downtown residents. There are clearly some great projects in the pipeline that will have significant impact on the future success of downtown, including the Signia Hotel and the associated expansion of the Indiana Convention Center, the redevelopment of Circle Centre Mall, the development of a Ritz-Carlton Hotel across from Gainbridge Fieldhouse, the development of a 21C Hotel at the old City Hall site and the redevelopment of the City Market.
But in terms of also having popular venues for residents of downtown and visitors, what about the redevelopment of Union Station? Even without trains stopping here anymore, the Station’s significant space and location essentially next door to the Signia Hotel and the expanded Convention Center, a block from Lucas Oil Stadium, a block from Traction Yards on the Circle Center Mall site and the existing Crowne Plaza already on site, it seems like a great opportunity to put something there that will complement all the significant assets around it.
The city has already allocated $23M to improve the Union Station underpasses on Meridian and Capital to include structural rehab of concrete facades, improved lighting, etc. I know the city currently owns the property, but it seems like a good time to have this conversation in the interest of maintaining an historic asset right in the middle of an important quadrant of downtown.