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Taylor Swift’s ‘Eras Tour’ could bring up to $100M to Indianapolis economy

Taylor Swift arrives at the 65th annual Grammy Awards on Sunday, Feb. 5, 2023, in Los Angeles. Swift's three "Eras Tour" concerts in Indianapolis could generate more than $100 million for the city of Indianapolis. (Photo by Jordan Strauss/Invision/AP)

INDIANAPOLIS (WISH) — A Ball State University economist estimates singer-songwriter Taylor Swift’s “Eras Tour” could bring up to $100 million to the Indianapolis economy.

Swift is set to play three shows at Lucas Oil Stadium next fall.

Dagne Faulk is the research director at the Center for Business and Economic Research at Ball State University. Faulk’s rough estimation is that Swift’s three shows could bring up to nine figures in revenue to central Indiana.

“It’s probably going to be in the upper 10s of millions of dollars,” Faulk said. “Maybe even closer to $100 million or so would be my back-of-the-envelope calculation.”

Indianapolis is built for large-scale events like this one. Some hotels are already showing up as sold out for the first weekend of November 2024 while others only allow bookings a year out. One hotel manager told News 8 they are already seeing increased demand, even though tickets don’t go on sale until Friday.

“I expect all the downtown hotels will probably be sold out,” Faulk said.

The research center’s director notes that the economic impact will be more than ticket sales and hotels. Local transportation, restaurants, and stores will benefit.

“There’s likely to be a massive inflow of people into downtown Indianapolis to see the concert so that should have an effect on hotel stays, the restaurants, all the local businesses,” Faulk said.

She says large events like these draw people from outside of the region and add to local tax revenue.

“That brings money from outside the region into Indianapolis,” Faulk said. “So that’s a big boost to local revenues, in terms of revenues to local business but also tax revenues.”

Indianapolis Mayor Joe Hogsett is celebrating this concert as a win for an already big 2024.

“We are excited to host Taylor Swift and her loyal fans here in 2024, demonstrating along the way why Indianapolis is the top host city in the country,” Hogsett, a Democrat, said. “Building on last week’s groundbreaking on Pan Am Plaza and yesterday’s announcement of years of continued partnership with Gen Con, this news indicates the continued success of our strategy to make Downtown Indianapolis a great place to live, work, and play.”

The incumbent mayor’s opponent in the November election, Republican Jefferson Shreve, was also pleased to see the “Eras Tour” coming to Indianapolis.

“What a terrific opportunity for Indy. I’m thrilled for our hotels, restaurants, and businesses,” Shreve said. “It’ll be a fun time to shine as a city and put on a show for those visiting from across the U.S.”

Tickets for Swift’s Indianapolis tour go on sale Friday, although many fans have already received presale codes that can be redeemed starting at 11 a.m. Wednesday.