INDIANAPOLIS — Recently, Mayor Joe Hogsett joined the Department of Metropolitan Development (DMD) and Develop Indy to highlight 2022 successes in the areas of economic and community development. Leveraging local, state, and federal resources, City efforts spurred $1.1 billion in capital investments, created 3,982 jobs, and carried forth its affordable housing strategy.
In 2022, the Department of Metropolitan Development and Develop Indy secured 64 successful projects, creating and retaining over 8,500 jobs at an average wage of $38.42. Early year-end numbers indicate significant growth in Indianapolis’ economic development investment from industries, including radiopharmaceuticals, advanced manufacturing, innovative engineering, and more. Major projects included:
• In April, ground was broken for the $100 million Elanco Animal Health Global HQ at the former GM Stamping Plant Site in the Valley Neighborhood, bringing 1,000 jobs and historic infrastructure investment to West Indianapolis.
• SomeraRoad’s historic landmark revitalization of the Stutz Building taps into Indianapolis’ creative, culinary, and fitness communities. As part of the City’s Downtown retail strategy, the Stutz will be home to the City of Indianapolis’ first St’Artup317 Retail Incubator, creating space for Black and brown entrepreneurs and their brands. The pilot incubator is slated to open in 2023.
Amid a housing crisis, the Hogsett Administration reiterated its commitment to utilizing local, state, and federal tools to interrupt displacement and expand affordable housing opportunities and tools in Indianapolis neighborhoods.
In November, the Department of Metropolitan Development announced the East 38th Street Corridor as its next Lift Indy neighborhood, forming a partnership with the United Northeast Community Corporation and Indianapolis Neighborhood Housing Partnership, focused on affordable housing, homeownership opportunities, placemaking, and economic development.
The city also allocated $7.8 million to four permanent supportive housing projects for people recently experiencing homelessness: Hanna Commons, St. Lucas Lofts, Compass on Washington, and Providence Place.
The City implemented its new TIF affordable housing policy requiring a deeper set aside of affordable rental units at the Cole Motor Campus, Indy Innovation Apartments, 1827 Lofts, and Monon30.