Indianapolis Transformation: Massive Development Projects Signal Strong Economic Future
A City in Transformation
Central Indiana is experiencing an unprecedented upward trajectory with billions of dollars in investment and new projects, with this momentum expected to continue throughout 2025.
Economic Growth and Development
The Indianapolis metropolitan area is projected to achieve a real GDP growth of 3.1% in 2025, outpacing both state and national averages. Economic activity in the region is expected to grow faster than both the nation and the state.
The city’s affordability and central location have attracted notable corporate relocations, including OTAVA and Ice Miller LLP, which moved their headquarters downtown in 2025. These relocations are supporting consistent weekday business travel and enhancing conference demand.
Major Infrastructure Projects
Construction is well underway on the Signia by Hilton and Indiana Convention Center Expansion, with the 38-floor hotel already reaching its 35th floor as of August 2025. The project is scheduled for completion by Q4 2026.
One of the largest healthcare investments in state history is taking shape with Indiana University Health’s $4.3-billion downtown medical campus. The project includes a new 864-bed, three-tower facility and a 326,000-square-foot medical education and research building, set to open by late 2025.
Economic Impact and Future Outlook
The city’s strong economic position is reflected in its employment figures, with unemployment expected to average 3.5% in the Indianapolis metropolitan area during 2025, while wage growth is projected at 3.9%.
Indianapolis is making bold improvements that will enhance how people experience the city, creating new gathering spaces and better connectivity between neighborhoods. The developments represent over $3 billion invested in tourism-related infrastructure, demonstrating the city’s commitment to becoming a more welcoming, inspiring, and exciting destination.
