Former industrial properties in the Midwest have frequently been overlooked by investors seeking business locations because they are seldom effectively marketed and/or are challenged by real or perceived deteriorating structures, fragmented ownership, environmental contamination, poor transportation access, and at times, antiquated utility infrastructure.
In spite of these barriers, such sites represent a strategic opportunity to expand jobs at scale, especially when carefully chosen based on their opportunity to serve vibrant local economic sectors. By targeting investments on locations most able to accommodate the industry and employment sectors in which Indianapolis is strong, businesses can be attracted that will raise the desirability of entire neighborhoods.
The goal of FOCUS over this next decade will be to reverse the decline in property values of older industrial areas and reposition them for renewed market investment, employment and residential demand.
LISC and partners unveiled an economic cluster study that will inform Indianapolis as we begin a more intentional and collaborative approach to revitalizing our legacy industrial districts. The study explores the infrastructure and potential of the industrial landscape in Indianapolis examined alongside the projected growth of the local B2B, technology, and food manufacturing and distribution clusters. Hear from the combined knowledge of respected firms in this field: Mass Economics, RW Ventures, Bookman, Capraro Associates and Jones Lang LaSalle. Download the Executive Summary: Linking Regional Economic Clusters with Target Urban Places.