The new Indianapolis Music Cooperative has raised more than $52,000, surpassing its established goal, to help with the creation of a collaborative music space for Indianapolis musicians. With that success, the organization will now receive a matching grant of $50,000 from the Indiana Housing and Community Development Authority.
The co-op wants to create a 6,000-square-foot coworking space at the Circle City Industrial Complex to give Indy musicians a place to rehearse, record and produce music.
IMC also intends to open a 750-person venue in which funding has already been secured.
“We are immensely grateful for the community support we have received for this project,” said Indianapolis Music Cooperative Founder Kai McGinnis. “This is just the beginning, but with the funds secured to date we are looking forward to building the Indy Music Co-Op and ushering in a new era of sustainability for the Indianapolis music community.”
McGinnis says the cooperative will create six full-time staffed positions over the next 12 months. The organization says it will offer month-to-month memberships in which the revenue will be reinvested into the music community.
McGinnis appeared on Inside INdiana Business with Gerry Dick last week. Watch the interview below.