Indianapolis Economic Development: Recent Wins & Future Outlook
Indy’s Business Momentum Continues to Grow
Indianapolis is experiencing unprecedented economic growth, with new businesses setting up shop, major employers expanding, and innovative projects reshaping the city’s future. As a business-friendly city with a strong workforce, strategic location, and forward-thinking leadership, Indy is proving to be one of the best places in the country to invest and grow.
Here’s a look at some recent economic development wins and what’s on the horizon for business growth, investment, and workforce development in Indianapolis.
Major Business Expansions & Relocations
Over the past year, Indianapolis has welcomed several major business expansions and new investments across key industries like tech, life sciences, and advanced manufacturing.
Notable Wins for Indy:
Novartis announced a $50 million investment in their radiopharmaceutical hub by the IndianapCalumet olis Airport.
Calumet opened its new headquarters in downtown Indy, strengthening the city’s position as a hub for innovative companies within legacy industries.
Indianapolis just landed a new Transatlantic flight, connecting Indianapolis to Dublin starting in May 2025
With a low cost of doing business, access to top talent, and business-friendly policies, Indianapolis is competing on a national level for new business investments—and winning.
Transformational Development Projects
Indianapolis continues to invest in game-changing projects that fuel economic development and enhance the city’s appeal for businesses, residents, and visitors.
Key Developments Driving Growth:
✔ Circle Centre Mall Revitalization: Plans to reimagine this key downtown asset for mixed-use development, retail, and entertainment.
✔ The Elanco Headquarters Project: A massive investment at the Levee Innovation District, boosting the life sciences and biotech sector.
✔ White River Vision Plan: Transforming the White River corridor into an economic and cultural hub with waterfront development opportunities.
✔ Adaptive Reuse & Downtown Redevelopment: Several office-to-residential conversion projects are underway to create more downtown living options and attract young professionals.
These projects enhance Indy’s livability while creating opportunities for businesses, investors, and entrepreneurs to contribute to the city’s future.
Booming Industries & Future Growth Sectors
Indianapolis continues to diversify its economy by attracting investments in high-growth industries, reinforcing its position as a leader in technology, life sciences, advanced manufacturing, and logistics.
Fastest-Growing Industries in Indy:
Tech & Innovation: Indianapolis is a rising Midwest tech hub, home to Salesforce, Infosys, and a growing startup ecosystem.
Life Sciences & Healthcare: With major players like Eli Lilly, Roche Diagnostics, and IU Health, Indy is leading in biotech and medical innovation.
Logistics & E-Commerce: As a central hub for supply chain and distribution, Indy benefits from major investments by Amazon, FedEx, and logistics firms.
Advanced Manufacturing: Indiana remains the most manufacturing-intensive state, with investments in automotive, aerospace, and clean energy sectors.
As these industries expand, Indianapolis is focused on supporting innovation, upskilling the workforce, and attracting investment in emerging sectors.
Workforce & Talent Development Initiatives
A strong talent pipeline is critical for sustaining economic growth, and Indianapolis is making major investments in workforce development.
Key Workforce Initiatives:
Next Level Jobs Program: Providing grants and training for high-demand industries like healthcare, IT, and advanced manufacturing.
Employ Indy’s Job Ready Initiative: Helping local businesses connect with skilled workers and upskill their workforce.
TechPoint’s Xtern Program: A nationally recognized initiative attracting top tech talent to Indy.
With 1.5 million workers in the metro area and access to top universities like Purdue and Indiana University, Indianapolis remains a top destination for companies seeking skilled employees.
The Future of Economic Development in Indianapolis
Looking ahead, Indianapolis is positioning itself as a leader in sustainable development, innovation, and inclusive economic growth.
What’s Next?
🚀 More investments in renewable energy & sustainability initiatives
🏢 Continued focus on downtown revitalization & adaptive reuse
📈 New funding programs for small businesses & entrepreneurs
🌍 Attracting more global companies & foreign direct investment
Indianapolis is not just keeping up with economic trends—it’s leading the way in fostering a dynamic, business-friendly environment that supports long-term success.
Ready to Be Part of Indy’s Growth Story?
Whether you're an entrepreneur, investor, or business leader, now is the time to explore opportunities in Indianapolis. Contact the Indy Economic Development team to get started.