15B: Regional Gathering Ecosystem Strategy
While key tourism assets like the Indiana Convention Center and Grand Park are often evaluated on their own, little attention has been paid to the regional event and gathering facility ecosystem as a whole. A study of our current facility offerings would help identify their unique roles, opportunities, and potential market voids. Such a study should help us understand not only who does what, but what’s missing and how we can minimize regional market cannibalization and maximize the impact of limited capital resources.
Value to the CommunityWhile new event venues help maintain healthy competition to keep existing venues competitive, they can also cannibalize limited regional market opportunity, transferring the economic value and jobs associated with them from one community to another. By studying the venue needs and existing venue roles we can work to keep existing venues healthy while directing new investment in ways that grow regional activity rather than simply move it around.
Value to the Hospitality IndustryVenues like the Indiana State Fairgrounds and smaller hotel clusters around the region may not receive the attention of the Indiana Convention Center and downtown hotels, but they drive significant visitation to the region. A better understanding of the role these secondary venues play in regional tourism demand is the starting point to maximizing its positive impact. It also protects existing public and private investments made in such venues and minimizes wasteful market cannibalization.
Visit Indy (Lead)
- Partnerships Under Development