IU Public Policy Institute Study: ISO creates $37M annual economic impact on downtown Indy 

INDIANAPOLIS— The Indianapolis Symphony Orchestra (ISO) announced the release of a new strategic plan envisioning the Orchestra as a dynamic and unifying leader in the arts and a key economic driver in central Indiana. The plan, shared at the ISO’s annual meeting in January 2025, outlines strategic goals to ensure long-term sustainability and innovative leadership in the arts as the Orchestra approaches its centennial anniversary in 2030. 

James Johnson

“The Indianapolis Symphony Orchestra is deeply grateful to Lilly Endowment, Inc., which provided generous support for this comprehensive project,” said James Johnson, CEO. “The ISO is excited to share our vision for a thriving orchestra that serves as the creative engine of our community. By adopting this strategic plan, the ISO will expand its capacity to serve Central Indiana for the next 100 years.” 

With community engagement positioned at the heart of the ISO’s strategic plan, the Orchestra aims to deepen connections through programs that respond to community needs, enabling the orchestra to grow audiences while reflecting the vibrancy and diversity of the community it serves. Improving the home of the ISO, Hilbert Circle Theatre, to make it more welcoming and accessible to guests and performers will put the ISO at the center of a vibrant and growing downtown. Additional goals include expanding audiences through collaborative programming, developing artistic partnerships to grow the Orchestra’s reach, building organizational capacity, and positioning the ISO as a leading advocate for the arts. 

The strategic planning process included an extensive assessment of the ISO’s current facilities, infrastructure, and use of space. The ISO engaged Indianapolis-based Schmidt Associates to produce a facilities master plan, which includes modernizing and reimagining the spaces inside and around the home of the ISO, Hilbert Circle Theatre. The ISO also engaged Schuler Shook, Akustiks, Hunden Partners, the Indiana University Public Policy Institute, and Arts Consulting Group to develop a research-driven approach that addressed the needs of musicians, staff, patrons and supporters, and the central Indiana community. 

Sarah Hempstead

“It has been an honor to work with the ISO and consider the next movement enhancing the experience for all visitors to feel welcomed whenever they visit the Hilbert Circle Theatre. Whether for a concert, a business meeting or a community art show, the Symphony and this landmark at the center of our community is positioned to be a leader in the redevelopment of downtown,” said Sarah Hempstead, CEO, Schmidt Architects. 

Read the Indianapolis Symphony Orchestra’s strategic plan. 

Economic Impact Study 
As part of the strategic planning process commissioned by the ISO, a study by the Indiana University Public Policy Institute showed a total annual economic contribution of $37 million to the greater Indianapolis economy, driven by ISO concerts, programming, and operations, plus ticket holder spending in conjunction with attending concerts and programs. More than 100,000 annual ISO ticket holders significantly contribute to the economy of downtown Indianapolis and Hamilton County. When attending an ISO event, they spend money on parking, food, shopping, and other entertainment. These expenditures bolstered the greater Indianapolis economy by $5.6 million in 2023.

Read the IU Public Policy Institute’s Economic Impact Study 

Taylor Schaffer

With more than 29,000 downtown residents and growing, the ISO is eager to implement this strategic plan that will strengthen the Orchestra’s position as a community anchor and contribute to a vibrant downtown Indianapolis for decades to come,” said Johnson.  “Downtown Indy, Inc. – the trusted champion, convener, and steward of a dynamic downtown Indianapolis – is excited to support the Indianapolis Symphony Orchestra in its exciting new vision as a leader of arts and culture in our city’s core,” said Downtown Indy, Inc. President & CEO Taylor Schaffer. “With its performance venue just steps from Monument Circle, the ISO directly supports DII’s work as downtown’s primary place-based management organization, partnering on everything from live-streamed concerts to free community activations.”

About the Indianapolis Symphony Orchestra

The Indianapolis Symphony Orchestra, at home and thriving in the heart of Indianapolis, offers an exceptional artistic and musical experience. The orchestra is open to all and dedicated to creating an inclusive and innovative experiential environment that is inspiring, educational, and welcoming. The ISO celebrates historically beloved performances while engaging audiences by introducing new voices through programming that includes the IU Health Plans Classical Series, the Printing Partners Pops Series, the holiday traditions of AES Indiana Yuletide Celebration, Kroger Symphony on the Prairie, and the popular Film Series presented by Bank of America. For more information, visit IndianapolisSymphony.org.