4A: Support a Strong and Diverse Downtown Economy
Support efforts that maintain downtown’s preeminence as a place to do business through the encouragement of new high-quality amenities as well as the maintenance of assets already built. Development of local and regional land use and transportation policies that encourage density are encouraged to accommodate evolving economic, technologic, and real estate preferences and keep downtown dynamic and economically relevant. We must also keep in mind the balance between taxable and non-taxable property downtown, which is home to significant regional-serving amenities that are tax-exempt like hospitals, universities, and museums. While these amenities contribute significantly to regional quality of life, the infrastructure they depend on must be supported by local private economic activity.
Value to the Community
Downtown is a source of the community’s identity while also serving as the economic engine of Central Indiana. Even though most do not work and only a fraction of residents live in downtown, it has an outsized impact on the economic health of Indy. And while a neighborhood of its own, it's also a neighborhood that belongs to everyone, with a disproportionate number of residents using its government services, healthcare facilities, transportation facilities, cultural and sports amenities, and public spaces.Value to the Hospitality Industry
A healthy downtown economy is necessary to sustain the collection of visitor and cultural amenities it is home to. While tourism depends on the vibrancy of restaurants, retail, and cultural offerings downtown to attract visitors, it is local residents, particularly the daytime office workforce, that keeps those things viable. Without downtown workers and residents we cannot have vibrancy for visitors.Updates
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