Business Growth

VISION: The NE Corridor will include several clusters of environmentally safe and accessible neighborhood businesses including retail, light manufacturing, and professional services and where neighbors and business owners work to reinvest in each other.

Completed Completed      Ongoing Ongoing      Pending Pending      Failed Failed
1. Enhance local entrepreneurial opportunities to develop new businesses within the NE Corridor.
Status
Result Statements and Tactics
Lead
Collaborators
Timeline
Success Measures
Comments
1.1 Support the development of Tinker Flats as a commercial developmentKing Park Development CorporationThird Street Ventures, U.S. HUD, City of IndianapolisYear 2-3 Number of new jobs
1.2 Collect information and data about new and existing businessesKing Park Development CorporationUnited Northeast Community Development Corporation, Martindale-Brightwood Community Corporation, UNEC Business Association, Local Initiatives Support Corporation, City of Indianapolis, Ball State CAP-IC Year 2-5a. Decrease the number of business vacancies
b. Increase the number of businesses operating in the NE Corridor
c. Increase the number of employment opportunities
1.3 Increase collaboration and networking opportunitiesUnited Northeast Community Development CorporationKing Park Development Corporation, Martindale-Brightwood Community Development Corporation, Business Ownership Initiative, Indy Chamber, Indy's Kitchen, East 38th Street LibraryYear 1-5Strengthen business to business relationships and consumer to business relationships

Increase the number of businesses that attend training and networking sessions

Decrease business vacancies

Increase employment opportunities
1.3.1 Host networking events to create and develop relationships (i.e. better blocks, opportunity fairs)
1.3.2 Implement "46th Street Better Block" event showcasing pop-up businesses in vacant commercial space
1.3.3 Engage and promote training opportunities for local businesses
2. Increase business and neighborhood partnerships to attract new businesses and expand existing businesses.
Status
Result Statements and Tactics
Lead
Collaborators
Timeline
Success Measures
Comments
2.1 Develop relationships with employers in the NE CorridorKing Park Development CorporationUnited Northeast Community Development Corporation, Martindale-Brightwood Community Development Corporation, Indy Chamber, Local Initiatives Support Corporation, Develop IndyYear 1-5a. Engage 10 businesses within the corridor in the NE Corridor QOL Plan per year

b. Increase the number of businesses participating in each small business associations by 2 in the first year

c. Host meet and greets with employers in the NE Corridor
2.2 Create incentives for new/existing businesses within the local communityCrosstown Neighborhood AssociationKing Park Development Corporation, United Northeast Community Development Corporation, NE Corridor Neighborhood Associations, Martindale-Brightwood Community Development CorporationYear 2-5
2.2.1 Organize and implement Cash MOBs on a quarterly basis (neighbors spending money at the same
business on the same day)
2.2.2 Establish coupon book for local businesses two times per year
2.3 Improve dilapidated commercial and industrial properties to create business opportunitiesMartindale-Brightwood Community Development Corporation United Northeast Community Development Corporation, King Park Development Corporation, City of Indianapolis, Local Initiatives Support Corporation, Develop IndyYear 1-5Increase public and private investment at the Keystone Enterprise Park

Complete inventory of buildings within industrial corridors

Attract new businesses and expand existing businesses

Decrease the number of brownfields in the Corridor

Amount of commercial square footage developed
2.3.1 Continue to promote business expansion and redevelopment in and around the Keystone
Enterprise Park
2.3.2 Build on Massachusetts Avenue industrial development momentum
2.3.3 Continue to use Smart Growth Redevelopment Area to promote reinvestment and brownfield
remediation
King Park Development Corporation
2.3.4 Inventory buildings along past industrial corridors and target for any necessary clean up as well
as redevelopment
2.3.5 Create a "Design Bank", a design and workshare center, repurposing an old bank on 38th StreetUnited Northeast Community Development Corporationw/purpose, Studio B, PuzzelloYear 1-3 Number of workshare entrepreneurs
to use the space
3. Create and find supportive financing for new and existing businesses.
Status
Result Statements and Tactics
Lead
Collaborators
Timeline
Success Measures
Comments
3.1 Strategically connect with city-wide business entities for financial resourcesKing Park Development CorporationUnited Northeast Community Development CorporationYear 1-5Increase public and private investment

Decrease business vacancies

Attract new businesses
3.2 Strategically leverage grants and flexible financing to benefit jobs and business developmentIncrease the number of employers and employees

Secure grant funding

Increase public and private investment

Reduce unemployment within the NE Corridor
4. All businesses are accessible to all modes of transportation and all types of residents.
Status
Result Statements and Tactics
Lead
Collaborators
Timeline
Success Measures
Comments
4.1 Increase and secure bike parking optionsKing Park Development CorporationUnited Northeast Community Development Corporation, Harrison Center for the Arts, Department of Public WorksYear 2-4
4.2 Encourage businesses to open along current and proposed transit corridors/greenways/waterways Year 1-5