In response to the devastating economic effects of the 2020 COVID-19 pandemic, Near East Area
Buy Indy East
Increase Economic Activity
Commercial District Development
Arts-based Community Development
Implement Innovative Infrastructure
View the full Buy IndyEast Promise Zone strategy
Are you interested in learning more about the strategy behind the Buy Indy Promise and goals? You can access the full document or just view the specific Buy Indy East goals and partners.
Buy IndyEast Promise Zone Funding History
Over the past six years, the Buy IndyEast goal has been able to raise almost $60M to support the Near Eastside of Indianapolis.
Federal Funding Leveraged for Buy IndyEast: $58,284,990
The U.S. Small Business Administration (SBA) recently awarded BOI $180,000 through its Program for Investment in Micro-Entrepreneurs (PRIME) to continue funding BOI’s Re-Entry Entrepreneurship Development Initiative (REDi) for current and formerly incarcerated individuals to explore small business ownership as a means of self-sufficiency.
Business Ownership Initiative (BOI), the anchor program of the Indy Chamber’s Entrepreneur Services division, was recently certified by the U.S. Department of the Treasury as a Community Development Financial Institution (CDFI), and alongside this new status, was granted $125,000 in CDFI Program Technical Assistance Awards to serve low-income and underserved communities lacking adequate access to financial resources.
he City of Indianapolis was awarded $55 million in New Market Tax Credits by the US Treasury Department. This is the City’s third New Market Tax Credit award in the last 20 years. The funds will be used to support redevelopment efforts, including the ongoing projects on the PR Mallory campus.
The Small Business Administration’s Program for Investment in Microentrepreneurs (PRIME) grant provided assistance to the Business Ownership Initiative, supporting its programs to help low-income entrepreneurs who lack sufficient training and education to gain access to capital to establish and expand their small businesses.
The Small Business Administration’s Women’s Business Center Program provided technical assistance to the Business Ownership Initiative to provide technical support to women entrepreneurs seeking to optimize their finance, management, and marketing strategies.
Buy IndyEast Map
Buy IndyEast map shows the area’s key assets and developments that the promise zone has focused on like the 10 East Arts District, the East Washington Street Plan, and IndyGo bus routes as an alternative method of transportation. The map also shows new businesses since the promise zone designation.
News and Resources
Read the latest updates about Buy IndyEast projects, awarded grants, and milestones.
Southeast Neighborhood Development (SEND) received $45,000 from the U.S. Economic Development Administration (EDA) to conduct a small business incubator and
Stenz Construction Corporation in November 2016 bought the previous U.S. Corrugated-Fibre Box Company (predecessor to LDI Ltd.) on 1411 Roosevelt Avenue, just north of the Circle City Industrial Complex.