14B: Regional Placemaking Fund
The dedicated funding and focus of the CIB has enabled events and group business to be possible. Develop a similar funding model geared toward the leisure side of tourism by identifying a regional revenue stream that benefits the quality-of-life and quality-of-place elements that are at the core of destination appeal. A version of this idea was implemented with the Indianapolis Cultural Development Commission, which supported development of the Cultural Districts and helped imagine many of the places that are at the center of travel in Indy today.
Value to the CommunityLocal funding available to invest in quality-of-life amenities varies widely among communities in Central Indiana. Just as new funding sources were developed to support and sustain major new investments in stadiums and the Convention Center, such new funding sources for placemaking can build and sustain catalytic investments that make Indy a great place to live and visit.
Value to the Hospitality IndustryCurrent visitor-related funding is targeted for the core infrastructure needed to sustain group and event business--the convention center and stadiums. In addition to these investments, funding for placemaking and quality-of-life investments will address destination appeal not only for group and leisure travel, but also for broader economic development efforts that can strengthen business travel.
- January 2023. IDDC Destination Development Grant Program. While not focused solely on Central Indiana, the Indiana Destination Development Corporation has launched grants for placemaking and for public art.
- Partnerships Under Development