Indiana Toll Road $300M sits unused as toll hikes proceed and Bears stadium choice remains unresolved

The IFA-approved amendment lets ITR Concession Co. pay the state $700 million in installments in return for expanding the operator’s authority to raise tolls twice a year by at least 1.5% (or more if inflation is higher). The first installment, $300 million, arrived June 24 and remains invested in an IFA trust account, authority officials said. Toll rates already rose 4.4% on June 30 under prior contract terms; the amendment sets another increase for Dec. 31.

The amendment requires the operator to complete at least $25 million in capital work on the Indiana Toll Road within five years and specifies the remaining $400 million will be paid as $200 million on June 30, 2027, and $200 million on June 30, 2028. Lawmakers tied the payment language to a potential northwest Indiana stadium framework; if the Chicago Bears relocate to Indiana, the funds are expected to be available for related infrastructure in Lake County but may also be spent in Porter, Elkhart, LaGrange, LaPorte, Steuben or St. Joseph counties. The Bears have said Hammond is their primary focus in Indiana while negotiations continue in Illinois, where Arlington Heights also remains a possibility, league officials have said.

BusinessIndy examines this development and its implications for Indiana businesses and communities using the linked sources.