(i) on Economic Development: Indy Doubles Down on Sports

Posted: Updated:
Pictured: KSM Location Advisors President Kaite Culp and CEO Tim Cook. Pictured: KSM Location Advisors President Kaite Culp and CEO Tim Cook.
INDIANAPOLIS -

Pre-game festivities for Saturday night's Big Ten Championship football game at Lucas Oil Stadium provide an opportunity to reflect on a more than 40-year-old strategy that continues to be a calling card for Indianapolis. This month's (i) on Economic Development focuses on high-profile sporting events in the state capital. Indianapolis-based KSM Location Advisors Chief Executive Officer Tim Cook and President Katie Culp discussed the risks and rewards that come with big ticket games. Though Culp cautions that some events could turn out to be "one-hit wonders," Cook says the city's sports strategy provides a global platform unlike any other.

Marquee games, Cook says, get people talking about Indianapolis "in some parts of the country or even parts of the world that aren't even familiar with us, so I think that part is very valuable." He continued by saying visitor spending downtown is significant, as are the various types of exposure the city will receive. "It really gives us an opportunity to showcase Indianapolis to businesses that we're trying to attract here. It gives us almost an opportunity to talk to people who have come to visit -- 'what do you think about Indianapolis?' It gives us that chance to assess why we're strong and to make the city even more competitive," he added.

For promoters and organizers, big sporting events can pose some risks, but the long track record of success with events including the 1987 Pan American Games to the many NCAA Final Fours and Sweet Sixteens to Super Bowl XLVI in 2012 help bolster the city's case for hosting. "When people are making decisions about where to place these events, they want to eliminate risk -- or at least minimize it -- and we've proven that we can do this and do it without screwing up, so that speaks volumes," Culp said. Indy's reputation, she notes, pairs with assets like available hotel space, engaged volunteers and a willing corporate community to build an attractive option for big events.

Big Ten West Division champion University of Wisconsin will take on East Division winner Ohio State University at 8:17 p.m. Saturday.

  • Perspectives

    • The Importance of Strategic Planning

      How many years have you put work-life balance on your list of New Year's resolutions? Every day, I see so many business owners struggle with the same issues: working 60+ hours each week, not being able to remember the last time they had a vacation, and simply feeling like it's up to them to do it all in their business. After working with countless business owners to identify and overcome their challenges, I've realized the most common root cause is a lack of strategic planning.

    More

Subscribe

Name:
Company Name:
Email:
Confirm Email:
HTML
INside Edge
Morning Briefing
BigWigs & New Gigs
Life Sciences Indiana
Indiana Connections
INPower
Subscribe
Unsubscribe

Events



  • Most Popular Stories

    • Electric Works Lands State Incentives

      The first phase of a major redevelopment project in downtown Fort Wayne will receive state assistance. The Indiana Economic Development Corp. has awarded a conditional tax credit for Electric Works, a mixed-use innovation district located at the former GE campus. The incentive is part of the IEDC's Industrial Recovery Tax Credit program, used to boost investment in the redevelopment of former industrial facilities. Developers are projecting an initial investment of more than...

    • Well-Known Real Estate Firm Expanding to Fort Wayne

      Texas-based Keller Williams Realty Inc. has announced plans to open its first office in downtown Fort Wayne. Financial details of the real estate company's investment in the location were not immediately disclosed, however the expansion will bring at least 35 jobs to the Allen County city.

    • Nestl√© Planning $80M Anderson Expansion

      Nestlé USA has unveiled plans to invest nearly $80 million into its Anderson operations. Our partners at The Herald Bulletin report the company will purchase new equipment for the facility and add 30 jobs.

    • Construction to Begin on $15M Fieldhouse

      City and development officials will break ground Friday on a $15 million sports complex in Noblesville. Finch Creek Park Fieldhouse will include five courts with hard surfaces, two turf-surfaced fields and 11 batting and pitching cages. The project, which was first unveiled a year ago, is a public-private partnership between Klipsch-Card Athletic Facilities LLC and the city. The company is also owner/operator of the fieldhouse at Grand Park in Westfield.

    • Kroger Hires Eric Halvorson

      A former longtime Indianapolis television anchor and reporter has been hired by The Kroger Co. (NYSE: KR). Eric Halvorson, who left WISH-TV last year after 33 years, will serve as public affairs manager and media spokesman for the company's Central Division. He succeeds John Elliott, who will become the chief executive officer of Gleaners Food Bank in Indianapolis later this year.