<http://theurbanophile.blogspot.com/2009/03/indy-could-marion-county-implode.html
Indianapolis is arguably the best performing large metro are in the Midwest. Its southern influence has long been noted, but one of the things that has come with this is a growth profile that is closer to the Sun Belt than the Rust Belt. Pro-sprawl, anti-transit writer Wendell Cox noted this in a recent column on the city, "Sunbelt Indianapolis <http://www.newgeography.com/content/00639-sunbelt-indianapolis> ", which sings the city's praises. In time where most of us are justly worried about our economic future, it is worth noting a few of the things that are going right in Indianapolis, and where it really distinguishes itself versus Midwest peers: * It is the fastest growing major metro in the Midwest, with an annual growth rate of 1.5%, exceeding the national average by 50%* It is the top city in the Midwest for net domestic in-migration. This is arguably the most telling stat for any city. Are people voting with their feet to move to it or move from it? The vast majority of the Midwest is experiencing net out migration. But Cox notes that just since 2000, 55,000 people have moved to the Indianapolis region, a 3.6% growth rate. Its next nearest regional competitor only grew by 1.2% in this category. Amazing if you think about it.* It is also leading the pack in international in-migration. Indy started from a very low base, with a nearly non-existent international population in 2000 or so, but is now outgrowing even Chicago on a percentage basis. One needs to only cruise around the city to see the exploding number of Asian, Indian, and Latino businesses that are changing the face of the city and pumping life into failing neighborhoods.* It has one of the best and healthiest downtowns of any city its size. Most regional cities would kill to have something like the Wholesale District, with its shopping, dining, and entertainment options. While downtown is far from standing on its own two feet and has lots of problems to be sure, it's hard to name another city of its size that is doing this well.* It has a brand new airport terminal that is the best in the country and the most environmentally friendly in the world.* It has international brand recognition via the Indianapolis 500.* It has some of the most progressive suburban developments in America going on. Indy is the national leader in modern roundabouts. Its suburban parkways and trails are as good as any city. New urbanist developments are proposed everywhere and there are many town center projects in the works.* While it is taking a hit in the recession, Indy has been a jobs leader in the Midwest, no doubt part of its attraction to people moving there.* Part of this is its extremely low costs. Indianapolis is the lowest cost major housing market in America and should stay among the cheapest indefinitely thanks to pro-development policies and a surfeit of easily developable land.* Indy is catching up in areas where it has lagged, including bike culture and facilities, sustainable development, the arts, etc. In some cases, I don't think people realize how good they have it. People on the coasts can only dream of having access to the quality artisanal agricultural products that Hoosiers do, for example. * It has favorable geography, being located in the center of the state, being the state capital, etc. So there is definitely a lot to celebrate. While other cities see their major projects die, a fully funded convention center expansion is underway downtown, a new Nestle plant that will employ 400 just opened in Anderson, and the 1,200 employee Medco mail order center in Whitestown is ramping up this year. E-commerce marketing firm ExactTarget employs 400, is having a record year, and wants to go public. Compendium Blogware is hiring. So again, while there are definitely net job losses, there's a lot of positive momentum too.
Indianapolis is arguably the best performing large metro are in the Midwest. Its southern influence has long been noted, but one of the things that has come with this is a growth profile that is closer to the Sun Belt than the Rust Belt. Pro-sprawl, anti-transit writer Wendell Cox noted this in a recent column on the city, "Sunbelt Indianapolis <http://www.newgeography.com/content/00639-sunbelt-indianapolis> ", which sings the city's praises. In time where most of us are justly worried about our economic future, it is worth noting a few of the things that are going right in Indianapolis, and where it really distinguishes itself versus Midwest peers: * It is the fastest growing major metro in the Midwest, with an annual growth rate of 1.5%, exceeding the national average by 50%* It is the top city in the Midwest for net domestic in-migration. This is arguably the most telling stat for any city. Are people voting with their feet to move to it or move from it? The vast majority of the Midwest is experiencing net out migration. But Cox notes that just since 2000, 55,000 people have moved to the Indianapolis region, a 3.6% growth rate. Its next nearest regional competitor only grew by 1.2% in this category. Amazing if you think about it.* It is also leading the pack in international in-migration. Indy started from a very low base, with a nearly non-existent international population in 2000 or so, but is now outgrowing even Chicago on a percentage basis. One needs to only cruise around the city to see the exploding number of Asian, Indian, and Latino businesses that are changing the face of the city and pumping life into failing neighborhoods.* It has one of the best and healthiest downtowns of any city its size. Most regional cities would kill to have something like the Wholesale District, with its shopping, dining, and entertainment options. While downtown is far from standing on its own two feet and has lots of problems to be sure, it's hard to name another city of its size that is doing this well.* It has a brand new airport terminal that is the best in the country and the most environmentally friendly in the world.* It has international brand recognition via the Indianapolis 500.* It has some of the most progressive suburban developments in America going on. Indy is the national leader in modern roundabouts. Its suburban parkways and trails are as good as any city. New urbanist developments are proposed everywhere and there are many town center projects in the works.* While it is taking a hit in the recession, Indy has been a jobs leader in the Midwest, no doubt part of its attraction to people moving there.* Part of this is its extremely low costs. Indianapolis is the lowest cost major housing market in America and should stay among the cheapest indefinitely thanks to pro-development policies and a surfeit of easily developable land.* Indy is catching up in areas where it has lagged, including bike culture and facilities, sustainable development, the arts, etc. In some cases, I don't think people realize how good they have it. People on the coasts can only dream of having access to the quality artisanal agricultural products that Hoosiers do, for example. * It has favorable geography, being located in the center of the state, being the state capital, etc. So there is definitely a lot to celebrate. While other cities see their major projects die, a fully funded convention center expansion is underway downtown, a new Nestle plant that will employ 400 just opened in Anderson, and the 1,200 employee Medco mail order center in Whitestown is ramping up this year. E-commerce marketing firm ExactTarget employs 400, is having a record year, and wants to go public. Compendium Blogware is hiring. So again, while there are definitely net job losses, there's a lot of positive momentum too.
No comments:
Post a Comment