Museum Exhibits Economic Strength
Subscriber Benefit
As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowA magnet for Hoosier and out-of-state visitors in Indianapolis continues to be a major economic asset. A just released study commissioned by the Children's Museum of Indianapolis suggests the venue produced a $138.7 million economic impact for central Indiana in 2014, an approximately $8 million increase over the last measure in 2011. Chief Executive Officer Jeff Patchen says more than half of the museum's paid visitors come from more than 100 miles away. During an interview to air this weekend on Inside INdiana Business Television, Patchen says special exhibits like the Terra Cotta Warriors help attract new visitors and boost membership renewals.
The museum says its economic impact in 2011 was $124.3 million, which is estimated to be equal to about $130.5 million in 2014.
The study from the University of Michigan Center for Sport and Policy used mortgage data and real estate listings to determine the museum also enhanced property values in the surrounding neighborhood. It says the numbers underscore the venue's contribution to the area's stability.
Patchen says one of the keys to continued growth at the museum is a lineup of “ever-changing exhibits.” Upcoming arrivals include a racing exhibit next month, a Teenage Mutant Ninja Turtles display this summer, and an exhibit from National Geographic called “Sacred Journeys” in the fall.
Source: Children's Museum of Indianapolis