Indianapolis, IN – The Indiana Convention Center & RCA Dome (ICCRD) broke ground Tuesday on an expansion that will increase the convention center’s prime exhibit space by 465,000 sf to a total of 868,700 sf. The $900 MIL project is expected to be completed by 2010.
The first phase will involve construction of the Indiana Stadium, which will become home to the Indianapolis Colts, the NCAA championships and other events. Once the facility is completed in 2008, the RCA Dome will be demolished to make way for the convention center expansion.
A feasibility study conducted last year by PricewaterhouseCoopers indicated the need for more event space. The center has maintained a high occupancy and estimates suggest the facility could host an additional 18 to 23 conventions and exhibitions and 4 to 5 consumer shows annually, generating $165 MIL in economic impact. The project as a whole is expected to contribute an estimated $2.25 BIL to the area’s revitalization over the next ten years.
“These findings are consistent with our own examination of the future needs of our enormously important conventions and meetings industry,” says Bob Bedell, Indianapolis Convention & Visitors Association (ICVA) President and CEO.
The construction will be overseen by the Indiana Stadium & Convention Center Building Authority (ISCBA). Once completed, the Capital Improvement Board of Managers will assume management of the stadium and convention center.
Guests at the groundbreaking included Indiana Governor Mitch Daniels and Indianapolis Mayor Bart Peterson as well as regional sport, business and association leaders. Mayor Peterson stated, “The new stadium and convention center will be a catalyst for all kinds of business and industry in Indianapolis, and we stand ready to help the State Building Authority in any way to help move this project toward completion.”
Reach Barney Levengood, Executive Director, Capital Improvement Board at (317) 262-3403; or Linda Addaman, Director of Marketing & Sales, ICCRD, at (317) 262-3404 or email@example.com.