Indianapolis, IN – A feasibility study conducted for the Indiana Convention Center & RCA Dome by PricewaterhouseCoopers, released yesterday, found that an expansion of 275,000 square feet of exhibit space would draw an additional 20 major trade shows and five consumer shows per year, pumping $165 million into the local economy. Here’s why the CVB and mayor are so optimistic.
The study noted that the Indiana Convention Center performed exceptionally well, with high occupancy during a period of industry decline. It is that kind of momentum that local hospitality officials want to sustain. “Maintaining the status quo is not the answer,” says Indianapolis Mayor Bart Peterson. “As contiguous site possibilities and potential funding sources are identified, we will definitively move forward to ensure the long-term viability of this very important economic engine for the city of Indianapolis.” Bob Bedell, President & CEO of the Indianapolis Convention & Visitors Association, says, “The demand continues to grow for Indianapolis. This proposed expansion represents the next phase of Indianapolis’ deliberate development of its convention district and downtown, which has already proven successful.”
The facility, which opened in 1972, has been expanded several times. The facility currently offers 400,000 square feet of exhibit space. The addition of a headquarters hotel or expansion of a nearby hotel is also critical for marketing of an expanded facility, the study reported.
The feasibility study was commissioned by the city-owned facility, which is one of just a few facilities in the country connected to a dome.
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