Indianapolis Cultural Trail has Positive Economic Impact
IU Public Policy Institute Reports Property Values on Trail have Increased 148%
INDIANAPOLIS – Indianapolis Cultural Trail, Inc. today unveiled the findings of a report by the IU Public Policy Institute (Institute) on the initial economic and community impact of the Indianapolis Cultural Trail: A Legacy of Gene and Marilyn Glick. The report found that property assessments within approximately one block of the eight mile Trail have increased 148% since 2008, an increase of $1 billion in assessed property value.
“With so much to offer, the Cultural Trail has become a destination for residents and visitors alike,” said Mark Lawrance, director of the Institute. “Our research shows the value to the community as a whole and the many people and businesses that want to be a part of the Trail and its activities.”
The report titled “Assessment of the Impact of the Indianapolis Cultural Trail: A Legacy of Gene and Marilyn Glick” also found that the average expected expenditure by Trail users is $53 and that 95% of Trail users surveyed feel safe while on the Trail.
“More than a decade ago, Brian Payne envisioned the Cultural Trail as a bold way to connect Indianapolis neighborhoods and cultural districts in new ways,” said Indianapolis Mayor Greg Ballard. “You can look around today, especially on Virginia Avenue, and see how the Cultural Trail already has changed our city. The impact is significant, and it will continue to grow in the years ahead.”
The full report as well as an issue brief can be viewed on the Cultural Trail website www.indyculturaltrail.org/
“This data provides real numbers about how important the Trail is to our community,” said Indianapolis Cultural Trail, Inc. Executive Director, Kären Haley. “The results also underscore how vital it is for ICT, Inc. to continue to manage the Trail with our high standards and level of service year round.”
About Indianapolis Cultural Trail, Inc:
Indianapolis Cultural Trail, Inc. ensures that the Indianapolis Cultural Trail: A Legacy of Gene and Marilyn Glick is a beautifully maintained and vibrant community asset connecting people and places in downtown Indianapolis. The eight mile Cultural Trail is a protected bike and pedestrian path that also serves as a linear park in downtown Indianapolis. It includes $4M in art and is accessible 365 days a year.
About the IU Public Policy Institute:
The IU Public Policy Institute delivers unbiased research and data-driven, objective, expert analysis to help public, private, and nonprofit sectors make important decisions that directly impact quality of life in Indiana and throughout the nation. A multidisciplinary institute within the Indiana University School of Public and Environmental Affairs (SPEA), our efforts also support the Indiana Advisory Commission on Intergovernmental Relations (IACIR).