"Like Governor Daniels said, it's what we've come to expect from Hoosiers and this has been no different," said Justin Armstrong, president of the Indiana State Fair Foundation.
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Five people died and dozens more were hurt when the large stage rigging collapsed in strong winds just before Sugarland was scheduled to perform.
CICF Mike Knight said the donations are coming from a variety of sources. Many individuals have donated their refund from cancelled State Fair concerts and others are sending in larger sums. Many businesses and community groups are also collecting donations.
Across the street from Conseco Fieldhouse, The Pub Indianapolis will be donating 10 percent of all sales on Thursday.
"It's just a good way to help all those families having a hard time right now," said owner Gordon Coke.
All the proceeds from Thursday night's Train and Maroon 5 concert, which was relocated to Conseco Fieldhouse, will go to the fund.
Plans are in the works for some kind of fundraising event at Friday's preseason Colts game at Lucas Oil Stadium. Details on that effort were not yet available.
Fund organizers did not have a running tally of money collected. They are still working out the formula for distribution. They said they will continue collecting donations for the foreseeable future. The exact timeline for collection and distribution is also still being formulated.
Anyone who wants to donate to the effort can do so online.