Kennedy: CIB 'Appreciative' of Committee Vote

Posted: Updated:
Melina Kennedy is the president of the CIB. Melina Kennedy is the president of the CIB.

The president of the Capital Improvement Board in Indianapolis says a change to a bill involving the CIB was not unexpected. The House Ways and Means Committee Monday unanimously approved Senate Bill 7, which includes projects involving the Indiana Pacers and Indy Eleven. However, a provision that originally provided funding for the expansion of the Indiana Convention Center and the addition to two new hotels in downtown Indianapolis was removed. 

In an interview with Inside INdiana Business, Melina Kennedy says other funding sources for the $120 million project were always being considered.

"An effort by the CIB and the city to add more convention space and hotel space has a big, strong demand from some of our biggest convention customers, such as FFA, Gen Con and others," said Kennedy. "The expanded convention center portion to help accommodate those customers would be funded by the city, that has always been contemplated in that regard and the hotel portion would be private investment by those developing the hotel."

Kennedy says the CIB is appreciative of the committee's bipartisan, unanimous support for Senate Bill 7, which shows a recognition of the state level of the CIB's continued economic impact for the city and state. She says that impact totals more than $1 billion per year.

"That's a combination of the various facilities, the sporting industry and activities, but also the other major events that are at some of our large sporting venues that are not sporting-related," said Kennedy. "That's in addition to the convention business and this bill helps position the CIB to continue the long tradition of continuing to have such a significant economic impact on the state every year and into the future ahead."

Chris Gahl, vice president of Visit Indy, released a statement to Inside INdiana Business following the committee's vote:

We applaud the Ways and Means Committee for their vote of confidence toward ensuring key convention facilities can continue to serve as the economic engine for our region and our state. This legislation will help to build upon the progress and continued development of the last five decades, while we work to ensure our downtown hotel portfolio keeps pace with our growing conventions and furthering the planned expansion of our convention center for the first time in nearly a decade. This sort of forward thinking leadership is critical in retaining and growing our convention and sports business, while also keeping the title of USA Today’s ‘#1 Convention City in the U.S.’

Senate Bill 7 also provides a funding mechanism for a new soccer stadium that would be used by the Indy Eleven. It creates a "sports development area" to capture taxes that would be used cover construction costs for the facility. However, the committee removed a requirement that the Indy Eleven secure a Major League Soccer franchise before the stadium could be built. 

Our partners at WIBC report the full House could vote on the bill this week or next week. If the House approves the measure, it would return to the Senate where a final version would need to be approved before heading to Governor Eric Holcomb's desk.

Kennedy says other funding sources for the $120 million project were always being considered.
  • Perspectives

    • How to Find a New Audience After Hitting a Marketing Plateau

      It may sound like a marketer’s dream scenario: efforts have proven to be so successful it appears a company has completely saturated their target audience. While it may be a good problem to have, it still may be a problem. Hitting a marketing plateau is an opportunity for companies in any industry to reevaluate, re-energize and come to the table with new ideas for better understanding existing customers and engaging new audiences.



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


  • Most Popular Stories

    • Eleven Fifty is headquartered at Launch Fishers.

      State to Launch 5G Hub in Downtown Indy

      The state of Indiana has announced plans for what it says is a first-of-its-kind 5G hub. Launching in October, the Indiana 5G Zone aims to "attract business, foster innovation and propel research and development in 5G-enabled advanced technologies." The hub will be located inside the new downtown Indianapolis headquarters of the nonprofit Eleven Fifty Academy. The Indiana 5G Zone will include a 3,000-square-foot research lab, which will be used to develop and test...

    • (photo courtesy of Wes Mills)

      Ethanol Plant to Stop Production, POET Blames EPA

      Ethanol production at an Indiana biofuels plant will be stopped and the owner blames Environmental Protection Agency policies and the oil refining industry. South Dakota-based POET Energy announced the plant in Cloverdale will be placed in “idle production” within several weeks, though no date has been set. The ethanol producer says 100’s of local jobs will be impacted, but the news release did not specifically mention “layoffs” at this point.

    • (Image courtesy of Northern Indiana Commuter Transportation District)

      Michigan City Commits $12M to South Shore Track Project

      The Michigan City Common Council has formally committed to contribute $12 million towards the proposed $416 million Double Track project for the South Shore commuter line. Our partners at The Times of Northwest Indiana report the council voted unanimously to pay $7 million upfront and finance the remaining $5 million through a 20-year bond issue. 

    • Fort Wayne Tops 'Hottest Real Estate Markets'

      Fort Wayne just opened its brand new riverfront Promenade Park to pomp and pageantry, hoping to make it a draw to Indiana’s second largest city. But now the Allen County community has something else to celebrate. The editors of declared Fort Wayne as the hottest real estate market in July for the entire country. 

    • Scott Kleine is one of the senior interns at Idea Co-op. (photo courtesy of NineStar Connect)

      Senior Interns Shining at Greenfield Coworking Space

      Wednesday was National Senior Citizen Day and three seniors are being celebrated for their contributions at a coworking space in Hancock County. Idea Co-op, which officially opened its doors earlier this year, has taken on three "senior interns" following a chance encounter at a local Kiwanis meeting in December. Jill Snyder, director of economic and business development for Idea Co-op operator NineStar Connect, says the men approached her with the goal of being involved in...