Created by the Indiana General Assembly in 1965, the Capital Improvement Board (CIB) is a public entity of Marion County authorized by Indiana Code 36-10-9. It finances, constructs, operates, and maintains any capital facilities or improvements that serve the commercial, industrial, and cultural interests of Indiana and its citizens. Each member of the corporation is appointed by a government official or governing body in Indiana. The CIB meets regularly and the meetings are open to the public.

Mayor Greg Ballard, Pacers Sports & Entertainment president Jim Morris, and Indianapolis Capital Improvement Board president Ann Lathrop address the media about the $160 million deal between the Pacers and the city of Indianapolis, 2014
Credit: Matt Kryger, IndyStar

Since its inception, the Capital Improvement Board has focused on facilities related to convention, cultural, entertainment, and recreational activities in downtown Indianapolis. Such efforts are viewed as an important driver for Central Indiana’s economic growth and development.

CIB’s first project was the Indiana Convention Center. The corporation was responsible for the construction of this facility, which opened in 1972.

Subsequent projects included Market Square Arena and the Hoosier Dome. Both were operated by CIB until they were demolished and replaced with newer facilities. As of 2020, the Capital Improvement Board owns and/or operates the Indiana Convention Center, Victory Field, gainbridge fieldhouse, Lucas Oil Stadium, and various downtown parking garages and structures. Part of this work involves attracting various conventions, trade shows, sporting, and cultural events to these facilities every year.

The budget of the CIB is approved by the City-County Council.

Revised July 2021

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