Indy Wants to Privatize Stadium, Convention Center Operations

In Indianapolis, where a massive convention center expansion project is currently underway, city officials are looking to privatize management of the city's major sports and convention venues, the Indianapolis Business Journal reported last week.

According to the paper, the Indianapolis Office of Enterprise Development in conjunction with the city's Capital Improvement Board—which manages Indianapolis' professional sports facilities and convention center—has released a Request for Information soliciting proposals for private-sector operation and management of Lucas Oil Stadium and the Indiana Convention Center.

Hiring a private company to take over its facilities management duties could help the CIB close a massive budget deficit that is projected to total $47 million next year.

According to the city's RFI, privatized facility management would help the CIB financially by helping Indianapolis:

• Identify efficiencies and cost savings for each facility;
• Build relationships with strategic partners;
• Maximize each facility's usage;
• And evaluate potential economies of scale.

The city's deadline for RFI responses is Nov. 24, after which it plans to issue a formal Request for Proposals on Dec. 7, with an anticipated due date in January.