About Indianapolis, IN

History of Indianapolis

In 1821, the Indiana General Assembly founded Indianapolis as the state capital.  Alexander Ralston was commissioned to design the new capital.  The state capital was moved from Corydon on January 10, 1825 and the state commissioned Alexander Ralston and Elias Pym Fordham to design the new capital city. Ralston was an apprentice to the French architect Pierre L'Enfant, and he helped L'Enfant plan Washington, DC. Ralston's original plan for Indianapolis called for a city of only 1-square-mile (2.6 km²). Under Ralston's plan, at the center of the city was placed the Governor's Circle, a large circular commons, which was to be the site of the Governor's mansion. It was used as a market commons for over six years. Although an expensive Governor's mansion was finally constructed in 1827, no Governor ever lived in the house at Governor's Circle, as the site in the city center lacked any privacy. Therefore, the mansion was demolished and eventually the very recognizable Monument Circle was built as a tribute to veterans of the American Revolution.  It is now the center of the city known as the "Crossroads of America."

Population of Indianapolis

As the 14th largest city in the United States, Indianapolis' population is over 800,000. In addition, the metropolitan area of Indianapolis has reached over 1.7 million, making Indy the 33^rd-largest city in the U.S.  The growth rate for Indy is above 5% - one of only three major Midwest cities that can claim this rate of growth.

Business & Economic Environment in Indianapolis

Indianapolis is a business-oriented city with companies ranging in both scope and size.  Accomplishments such as the Circle Centre Mall, Conseco Fieldhouse, and Lucas Oil Stadium were the product of partnerships between the public and private sectors.  In order to inspire growth in the region, area businesses and community leaders have devoted significant capital.  Also, Indianapolis has a number of incentives for businesses, such as training grants, EDGE tax credits, and tax abatement.   Now Congress and the President have passed the American Recovery and Reinvestment Act, aka "The Stimulus." Inside is a provision that triples the old tax credit. So if you replace windows or add insulation to your home in Indianapolis you can receive a $1,500 tax credit right here in Indianapolis. There are no sales and use taxes on equipment and materials used in production, and there is also no corporate franchise tax.  The corporate gross income taxes have been eradicated, the research tax credits have been raised, and the inventory taxes are currently being phased out.

The Indianapolis Region, also known as Greater Indianapolis, is a nine-county area that surrounds the center and capital.  These counties are Marion, Boone, Hamilton, Madison, Hancock, Shelby, Johnson, Morgan, and Hendricks.   Indianapolis lives up to its title, "Crossroads of America."  Indy is served by 13 interstate highways and 12 major airlines and one can reach 65% of the nation's population in a day's drive.  This central location makes this region ideal for development and growth and enables companies to promptly reach their customers and suppliers.

Indy greatest strengths rest in the service and retail sectors, as well as the manufacturing and distribution sectors.  This economic diversity aids Indy in resisting the cyclical ups and downs of the market that many cities experience.  In 2005,  Site Selection ranked Indy sixth in the nation for top business climate and Entrepreneur Magazine ranked Indy the fifth best large city for entrepreneurs.  Also, there are four major companies that are headquartered in Indy that Fortune has named among the 100 best companies to work for.   For those companies wishing to relocate to Indy, there are two local organizations that can assist in this process.  The Indianapolis Regional Small Business Development Center aids companies that have existed less than 10 years with their management and technical needs.  Indy Partnership is a group that will help with employee training, expansion plans, and other needs.