Study: State Fairgrounds Impact Grows
INDIANAPOLIS - A new study shows the economic impact of the Indiana State Fairgrounds has grown. The study, conducted by the Indiana University Kelley School of Business, says events at the fairgrounds as well as the renovation of the Indiana Farmers Coliseum generated a direct economic impact of more than $197 million on the local economy in 2017, more than 22 percent higher than the previous study in 2011.
The study says $152 million came from visitors to Indianapolis. Attendees of the Indiana State Fair contributed more than $31 million and the remaining $42 million is attributed to Indianapolis residents attending various other events at the fairgrounds. Officials say the increase over 2011 was primarily due to the renovation of the coliseum, along with changes to the event calendar and inflation.
"We’re thrilled with the continued success of the Indiana State Fairgrounds & Event Center and proud to be playing such an active role in helping to make Indianapolis a vibrant, prosperous community," said Cindy Hoye, executive director of the Indiana State Fairgrounds & Event Center. "Visitors turn out in enthusiastic numbers for our events, and the renovation of our historic Coliseum has proved to pay dividends to our organization, our state, and the local economy.”
The study adds the visitor spending and the fairgrounds accounted for nearly 1,100 jobs in the Indianapolis economy and generated $12.4 million in state and local tax revenue. You can view more information in the infographic below: