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A couple of months ago in this column, I rhetorically asked who has a bold vision for our city’s future. It seemed like a good question given the approaching mayor’s race. I’ve been thinking about how Indy will set itself apart as peer cities such as Austin, Columbus, Denver, Nashville, Pittsburgh and Raleigh have emerged as fast-growing cities that are attracting talent and growing jobs at a much faster rate than Indy. Filling potholes and reducing crime is necessary, but not enough to ensure growth and vitality.
I listed a few ideas the next mayor might undertake that individually or collectively could aid in attracting more talented individuals, retaining more college grads and making our city more livable, including: the further development of White River, a world-class performing arts center, a world-class downtown university (IUPUI reimagined), a revamped approach to Circle Centre mall, creative talent initiatives, more interesting green space and more.
After a couple of months, I have my answer. There is a political leader answering the call for a bold vision. He isn’t running for mayor of Indianapolis. But he is advocating for transformational change for central Indiana and beyond. And he is taking his ideas to the Statehouse. He is Fishers Mayor Scott Fadness.
Unlike many politicians who spend much of their time touting the greatness of their locale, Fadness is ringing the alarm bell. He is telling us that central Indiana and the entire state are in trouble if we do not begin to think boldly.
Recently, Fadness met with the Mitch Daniels Leadership Foundation fellows class of 20 outstanding young leaders. Fadness explained what economic development experts have preached for some time—that economies are regional, not based on artificial city or county lines. To be a more vibrant city/state in the future, we need to begin to analyze and develop our regional assets.
Fadness punches you in the face with facts: Central Indiana’s wages are growing much slower than those of the aforementioned cities and we are trailing these cities in the number of new technology jobs. We are not attracting educated workers at the same pace as these peer cities and our poverty rate is ticking higher than that of our peers.
On the state level, Fadness quoted the following depressing statistics: Indiana ranks 42nd in public health, 48th in quality of life, 46th in higher education attainment, 48th in the health of our natural environment, 42nd in mental health and 44th in the percentage of smokers.
Fadness proposes the creation of regional development authorities, or investment hubs, that could raise local income, sales or food and beverage taxes with a 1% maximum. The revenue raised would be used to support transformational capital projects that would help drive economic growth and improve quality of place in the entire region. (See Lindsey Erdody’s Oct. 18 story.)
Fadness is taking a page out of the Mitch Daniels innovation book. Recall that Gov. Daniels convinced Marion and surrounding counties they would benefit from a transformational economic development project—the building of Lucas Oil Stadium and expansion of the convention center. All eight counties raised their food and beverage tax to support a project deemed important for the entire region.
Similar to Daniels’ stadium bill, Fadness’ proposal would have half of the new revenue going to the investment hub for new regional capital projects and the other half to the general funds of the member communities.
Existing revenue is not sufficient to fund bold initiatives. Mayor Fadness’ idea is a worthy one that should be put into action by our Legislature.•
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Feltman, an attorney and former Indiana secretary of commerce, is a shareholder in IBJ Corp. To comment, email nfeltman@ibj.com.
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Morgan County did not approve the 1% FAB tax for LOS. While Mooresville and Martinsville have a 1% FAB tax, the proceeds fund local projects within those communities.
Really? Scotty is nothing more than a everyday run of the mill self serving politician! Scotty’s overuse of TIF’s to fund his projects that seem to only benefit the pockets of developers is not bold! The wheel tax was not a bold decision by Scotty! Raising taxes 1% for all of Hamilton County is not bold! Scotty Mcfadness spending and taxation is both reckless and not good for the long term financial health of Fishers. The only time Scotty Mcfadness is bold is when he is being dishonest with taxpayers and voters! I know Lincoln Fibness agrees!
Agree with you. Nate should (re)read “Tyranny Unmasked” by John Taylor of Caroline, published by the Liberty Fund he chairs. On All Saint’s Day, Taylor speaks well from the grave: “The pretense ‘that though it inflicts deprivations, it bestows compensations,’ is one of those gross impositions upon the credulity of mankind, believed upon no better grounds than the stories of ghosts and apparitions.”