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Indy Parks Assesses Economic Benefit to Surrounding Areas

The Indy Parks Economic Benefit Study, conducted by the IU Public Policy Institute, determined that transformative investments in public parks increase surrounding property values and generate multiple economic benefits. The analysis found that the economic impact of the entire Indy Parks and Recreation system was $106.8 million in 2019, stating, “Every dollar spent on Indy Parks generated $3.13 of benefit in the local economy.”

Of all parks in the system, Tarkington Park reported the highest property value increase. Residential properties within a quarter mile of Tarkington were assessed at $193,000, a 12% increase since 2016. The study attributed the increase to recent improvements to the park calling it, “Notably one of the most Innovative parks in Indy.”

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