City could lose millions due to NBA lockout

Injured Peyton Manning already eating into downtown business profits

Indianapolis, Ind.

With the Colts suffering this season without Peyton Manning, downtown businesses have already taken a hit.  

"I'd probably say 30 percent, down 30 percent," said Chris Burton of Kilroy’s downtown.  

A cancelation of part of or even all of the NBA regular season would be a devastating blow for those already suffering.

"Week nights on games against the Heat or the Lakers when we would be full and have to beef up our staff it's going to hurt a little bit not having to do that now," said Burton.

However, Indianapolis’ sports problems are not just a business concern.  In 2010, the city's

Capital Improvement Board subsidized the Pacers with about $33.5 million over three years.

According our partners at the Indianapolis Business Journal, if the Pacers do not hit the court this season, the city could lose $55 million in economic activity. That is everything from less money spent at businesses, to a Pacers payroll decrease and ultimately lower tax revenues for local government.

Even downtown parking would take a hit.  IBJ reports some lots close to the arena could lose as much as $100,000 if the season is scrapped.

Some arenas across the country are starting to look at the possibility of booking more entertainment shows to make up for canceled games.  No comment from Conseco on whether executives there are doing the same.

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