India-no-place No More

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The boom had its origins in a state law that placed Indianapolis and most of surrounding Marion County under a unified government in January 1970. This quadrupled the city's land area to 379 sq. mi. and boosted the tax base from fewer than half a million to three-quarters of a million residents. Most significantly, the law encouraged more direct cooperation between the government and the private sector.

This partnership has pumped an abundance of money and ideas into Indianapolis and has resulted in more than 20 major downtown renewal and construction projects for housing, office, convention and cultural space. Since 1974, nearly $800 million has been spent on such impressive projects as the one at Merchants Plaza, a downtown complex of two office towers and a Hyatt hotel with an elaborate atrium. The city seeded the development by issuing $4 million in bonds, purchasing a four-acre plot, then leasing the land to a group of local bankers and businessmen.

The largest project in the city is just getting under way: White River State Park, a 250-acre, $200 million park just west of downtown. It will feature the Indianapolis Zoo, a performing arts center, botanical gardens, restaurants and a 1,000-ft., $15 million tower reminiscent of Italy's Leaning Tower of Pisa.

Indianapolis now boasts a ballet company as well as a fast-improving symphony orchestra, a repertory theater and the world's largest children's museum. Unlike other expanding cities, Indianapolis still remains affordable and offers some of the lowest housing costs in the country: the average price of a single-family home sold in the first quarter of this year was $50,600.

Homes are thus within reach of low-and middle-income families. The city is also considered a promising spot for minorities because of opportunities in new growth projects and business ventures. Despite all the hoopla, however, the fruits of economic growth have not reached many in the city.

The metropolitan area's unemployment rate in February was 8.9%, down from January's 9.5% but still high for a town bursting with prosperity. The area's manufacturing industries, particularly the transportation-equipment industry, which accounts for nearly 20% of the jobs, have been slow to make a come back from the 1982 recession.

Mayor William H. Hudnut III, now in his third term, is hopeful that the planned construction of several new hotels and the arrival of the Colts will stimulate more jobs in the city.

India-no-place, then, might just be a symbol of the past.

Bob Farley, 69, owner of a local taxi company, had considered leaving Indianapolis. He has changed his mind. "This town is on the move," he says. "It's booming, and I ain't goin' nowhere; I'm gonna stay here and boom with it."

— By Jacob V. Lamar Jr. Reported by Don Winbush/Indianapolis