INDIANAPOLIS – Mayor Joe Hogsett joined neighborhood leaders to announce the designation of the Brookville Road and Irvington Plaza Economic Development Area on April 23. The Department of Metropolitan Development staff took the lead on these efforts to strategically stimulate economic development in areas of the city that have signs of potential. At a Metropolitan Economic Development Committee meeting on April 22, the proposal was approved and will pass to a full City-County Council vote with a do-pass resolution.
The designation, which is defined in Indiana code, is designed to attract or retain permanent jobs, increase the property tax base, and improve the economic health of the area. Designation of Economic Development Areas increases the chances of obtaining state and federal grants, tax credits, and potentially Opportunity Zone investments.
The area affected includes Irvington Plaza, the former Ford Steering Plant, and the former International Harvester site on Brookville Rd.
Prior Economic Development Area designations include North Midtown, the airport, and the West Washington Street Corridor.