Completion of I-69 in Indiana could generate billions in economic impact

I-69 & I-465 interchange opens soon on southwest side

INDIANAPOLIS (WISH) — After decades of planning and construction, the I-69 “Finish Line” is almost here.

According to the Indiana Department of Transportation, the final portion of the interstate connecting Indianapolis and Martinsville is scheduled to open on Tuesday.

Phil Powell, a professor from IU’s Kelley School of Business, says it will significantly impact the region.

“We’re known as a crossroads of America,” Powell said.”We’ve just added another link in that story.”

I-69 was developed in the 1970s and started in the 1990s to support trade between Canada, the United States, and Mexico in the North American Free Trade Agreement. The interstate is nearly complete in Indiana.

INDOT projects over the next 20 years, the connection will bring $4.1 billion to the area.

Powell says much of the economic impact boils down to the age-old adage that time is money.

“If you’re running a trucking company, or … plumber company in Indianapolis and you serve the whole region 10 to 15 minutes doesn’t sound like a lot,” Powell said. “If you’re driving dozens of trucks or dozens of vans, that adds up over time.”

Powell adds the interstate could also create a residential boom in Johnson and Morgan counties.

“(Previously,) The commute time was just too long, to live there and drive to downtown (Indianapolis to work),” Powell said “Well, now that’s changed. Bargersville has this great exit on I-69.”

Construction of this last portion was dubbed the I-69 Finish Line project. It started in 2019 near Martinsville.

According to Governor Eric Holcomb, it’s three years ahead of schedule.

“It’s been … a long time coming,” Holcomb said. “It’s gonna get there. Again, there was a lot of patience required, but it will be better when it’s done.”

Powell says once construction on I-465 wraps up near the interchange with I-69, congestion on the southwest side of town should die down … adding a psychological impact to the mix.

“As Hoosiers like anybody else, we value time,” Powell said. “When places are more accessible, we’re going to be happier, less stressed, and we can make more money.”

According to Holcomb’s office, local and state leaders — including former Governor and Vice President Mike Pence — will meet near the new interchange on Tuesday to celebrate the opening of the final stretch of I-69

INDOT says there will still be some work needed in the area, which should be wrapped up by the end of the year.