The city of Indianapolis announced recently that the replacement of coin-operated parking meters has netted the city an additional $2.7 million in parking meter revenue, contributing to a revenue increase for the city for the third consecutive year.
Since transitioning parking meter operations to ParkIndy—a public-private partnership between the city and Xerox—in 2010, Indianapolis has reinvested over $12 million in infrastructure improvements.
According to Xerox, over 70 percent of meter payments were made last year using a credit card—a 10 percent increase over 2012—and 14 percent of total meter payments were submitted using pay-by-phone or the ParkIndy app.
“Before overhauling its public parking system, Indianapolis was challenged with increasing operational costs due to low turnover of 3,600 parking spaces and outdated meters and payment options,” David Cummins, the senior vice president and managing director at Xerox’s transportation and development division, said.
“ParkIndy has modernized parking technology to not only simplify operations, but to make parking easier for customers and increase business for local merchants as well.”