The head of the Capital Improvement Board of Marion County, which owns and manages the Indiana Convention Center and Lucas Oil Stadium, on Friday acknowledged there will be an “obvious impact” from the virus.
The convention for firefighters and other rescue personnel was scheduled to run April 19-25. It typically has an economic impact of nearly $35 million for the city.
The Indianapolis-based NCAA is weighing potential health risks to athletes against hundreds of millions of dollars on which the institution and dozens of athletic conferences and universities rely on for economic stability.
Combined, the events were expected to draw in upwards of $35 million in revenue for local businesses, including hotels and restaurants.
The Indiana House and Senate both passed a measure Tuesday night that would make panhandling illegal within 50 feet of any ATM; entrance or exit of a bank, business or restaurant; public monument; or place where any “financial transaction” occurs.
Nineteen hotel projects have been announced for downtown. If every one of them opens, they would add 4,203 more rooms to the central district of Indianapolis. But that’s not likely.
A Peachtree official said the company bought the land for the development opportunity and is now “evaluating our options to potentially build on the lot.”
The world’s largest economies delivered more worrisome cues Monday as anxiety over the virus outbreak sent stock and oil prices plunging and closed sites from the Sistine Chapel to Saudi Arabian schools.
Since breaking out of China, the coronavirus has had a chilling effect on companies related to manufacturing, travel and tourism, which then hampers other industries and weakens consumer confidence.
Formerly known as Amish Acres, the attraction has drawn about 150,000 visitors annually to its historical cabins, barns and other structures.
A conference and trade show that was expected to draw nearly 10,000 people to Indianapolis is the first local convention to be postponed or called off due to the virus.
Officials say no events have been canceled locally, but groups—including the NCAA and Visit Indy—are watching the news and weighing their options.
The cancellations and travel restrictions are a major blow to business travel, which makes up around 26% of the total travel spending. The Global Business Travel Association estimates the virus is costing the business travel industry $47 billion per month.
The trade-only event scheduled for March 14-17 had been expected to draw 60,000 visitors and 2,200 exhibitors from 45 countries.
The cost of the 122-room, city-backed hotel has swelled to $58.5 million, up from $40 million when the Carmel City Council green-lighted it two years ago. Some councilors have called for an audit to dig into the details.
The $1 million initiative was announced in October as a legacy project tied to next year’s All-Star festivities, with each group receiving up to $50,000 in funding for youth-serving projects.
A chef, a restaurateur and two restaurants were named as semifinalists for the James Beard Awards, which are often referred to as the Oscars of the restaurant industry.
Players union representatives and members of the NFL’s negotiating committee got together Tuesday in Indianapolis to hash out their differences in a new labor agreement the owners approved last week.
Fewer assistant coaches will watch those prospects run through drills in person this year, and downtown Indianapolis bars and restaurants should be quieter as many of the on-field drills move from morning and afternoon into prime time.