Economic impact of Indiana State Fairgrounds approaches $200M
INDIANAPOLIS, Ind. – A newly released study shows the annual economic impact of the Indiana State Fairgrounds and Event Center is approaching $200 million.
The findings from the Kelley School of Business at Indiana University also show that spending tied to the Fairgrounds was responsible for creating nearly 1,100 jobs locally and generating over $12 million in tax revenue for state and local governments.
The study is based on 2017 data, the latest year available, and shows a 22% increase in annual economic impact from the last study conducted by IU in 2011.
Fairgrounds officials attribute visitors who “turn out in enthusiastic numbers for our events, and the renovation of our historic (Indiana Farmers) Coliseum” for the increase, while the authors of the study compared the year-after-year economic impact of the Fairgrounds to that of a successful manufacturing plant.
“We’re thrilled with the continued success of the Indiana State Fairgrounds and Event Center and are proud to be playing such an active role in helping to make Indianapolis a vibrant, prosperous community,” said Cindy Hoye, the executive director of the Fairgrounds.