INDIANAPOLIS (Inside INdiana Business) — A new study conducted for the Indy Music Strategy Commission shows building the music ecosystem in Indianapolis could create a billion-dollar industry and generate nearly 8,500 jobs.
The consortium on Tuesday released a three-year strategy to guide the economic development initiative.
As part of the commission’s goal to boost the profile of Indy as a “music city” on the global stage, it hired music policy consulting group Sound Diplomacy to provide data, research, and insights on the music sector.
“Indianapolis has a rich musical history, along with a diverse community of artists, venues, labels, and music entrepreneurs,” said Indy Chamber President and Chief Executive Officer Michael Huber. “The Indy Music Strategy provides us with a 3-year plan to promote this history and grow Indy’s music economy, and to put the collective power of public, private, and philanthropic communities behind it.”
The report outlines strengths, challenges, recommendations, and next steps for the community.
The commission says the plan encourages a horizontal approach to sector development where Indy’s musicians, industry professionals and organizations work together and advocate for change to build the industry.
“Through smart policy and the support of a wide network of partners in the music industry, our city has another remarkable opportunity to expand the impact of an already diverse ecosystem of musicians, industry professionals, and organizations,” said Mayor Joe Hogsett.
Click here to download the 3-year plan and a watch video presentation.