Economic Development

Lawrence Economic Development: 317-545-6191

The city of Lawrence, Indiana, is a growing, multi-cultural community located northeast of Indianapolis in Marion County.

It is easily reached from Interstates 69, 70, 65 and 74. Chicago, Ilinois, and Columbus, Ohio are less than four hours away by car; Cincinnat, Ohio and Louisville, Kentucky can be reached in two hours; and a trip to the Indianapolis International Airport takes less than a 35 minutes.

DEMOGRAPHIC/ECONOMIC OVERVIEW

The city of Lawrence grew by 11 percent between 2000 and 2010, adding 4,216 residents to become a city of 46,000 people.

The city’s percentage gain in households (20 percent) was double that of its population. The growth of family households was roughly half of this gain, but the addition of so many household units relative to population (an average of 1.4 people per household) indicates significant growth in single person households.

The median household income of $54,254 for Lawrence residents exceeds that the state median of $48,393. And nearly 31 percent of Lawrence residents have a bachelor’s degree, compared to 22.7 percent of all Indiana residents.

INDUSTRIAL MARKET

Lawrence is one of 22 Industrial sub-markets tracked by real estate firm CBRE within the Indianapolis Metropolitan Area. As of late 2012, the sub-market was estimated to have approximately 2.1 million leasable square feet of industrial space (not including space owned by a user). This inventory consisted of 0.9% of all leasable space in all metro sub-markets, and 1.4 percent of all space in sub-markets inside of, or with direct access to Interstate 465. The Lawrence sub-market vacancy rate of 5 percent was slightly better than the metro average of 6.9 percent, and the average asking rate of $5.43 is above the metro average of $4.39.

CONTACT

Cam Starnes leads the city's economic development efforts and provides staff support for the Lawrence Redevelopment Commission. Contact Cam in the mayor’s office at 317-545-6191 or by email at cstarnes@cityoflawrence.org with any questions.