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City mulls creation of 'high tech district' for ExactTarget

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ExactTarget Inc. could get a 10-year tax break on an unspecified investment in new equipment if the City-County Council agrees to designate several parcels tied to the Indianapolis-based company as a "high technology district."

The measure, set for a hearing Monday evening, would allow the fast-growing company to install the equipment at a series of locations, including its existing office operations in the Guaranty Building on Monument Circle, the Century Building at Pennsylvania and Maryland streets, and the Gibson Building at Michigan Street and Capitol Avenue.

The filing also shows as eligible a series of parcels at Kentucky Avenue and West Henry Street west of Lucas Oil Stadium, and the block of surface parking that surrounds the Gibson Building on two sides.

The inclusion of the surface parking area around the Gibson Building seems to suggest ExactTarget is interested in building on the property. Company spokesman Mitch Frazier did not return a phone message left Monday morning.

With a proposed investment of $35 million, Exact Target would save about $3.3 million over 10 years, based on current tax rates for Center Township District 101.

One of the measure's sponsors, Democratic At-Large Councilor Zach Adamson, said the company must provide 100 new jobs at an average salary of $86,000 per year to retain the tax breaks.

The e-mail marketing company is seen as a key driver of employment: ExactTarget now employs 1,673 people—most of them in Indianapolis—compared with 1,133 at the beginning of 2012.

The company was one of three Indianapolis-based tech companies that announced big expansion plans at the end of 2012.

John Bartholomew, a spokesman for the Department of Metropolitan Development, said the creation of the "high technology district" expands a 2-year-old deal with ExactTarget and brings it into compliance with new legislative requirements.

The publicly traded company last week reported record revenue in its fourth-quarter earnings, but a growing loss.

The company lost $13 million in the quarter ended Dec. 31, compared with a $6.1 million loss for the same period of 2011. On a per-share basis, the loss dropped to 19 cents from 68 cents a year earlier because of a huge increase in common shares that hit the market after the company went public in March 2012.

Revenue increased 42 percent, to a record $84.2 million. For the year, revenue grew 41 percent, to $292.3 million.

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  • Boo on industry!
    ExactTarget, send your potential high-paying jobs to India or China! Do nothing to develop Indy! The suburbanites have spoken!
  • Indianapolis is a banana republic
    Only the rank n file citizens pay taxes. Screw these companies that are FREELOADERS.
  • Exact Spam?
    No need for this! They can pay their tax bills just like every other company.
  • exact target
    fyi
  • Exact Target
    I thought you might find this interesting
  • Semantics
    I hardly think sending spam emails is "high tech."

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  1. Hiking blocks to an office after fighting traffic is not logical. Having office buildings around the loop, 465 and in cities in surrounding counties is logical. In other words, counties around Indianapolis need office buildings like Keystone, Meridian, Michigan Road/College Park and then no need to go downtown. Financial, legal, professional businesses don't need the downtown when Carmel, Fishers, North Indy are building their own central office buildings close to the professionals. The more Hamilton, Boone county attract professionals, the less downtown is relevant. Highrises have no meaning if they don't have adequate parking for professionals and clients. Great for show, but not exactly downtown Chicago, no lakefront, no river to speak of, and no view from highrises of lake Michigan and the magnificent mile. Indianapolis has no view.

  2. "The car count, THE SERIES, THE RACING, THE RATINGS, THE ATTENDANCE< AND THE MANAGEMENT, EVERY season is sub-par." ______________ You're welcome!

  3. that it actually looked a lot like Sato v Franchitti @Houston. And judging from Dario's marble mouthed presentation providing "color", I'd say that he still suffers from his Dallara inflicted head injury._______Considering that the Formula E cars weren't going that quickly at that exact moment, that was impressive air time. But I guess we shouldn't be surprised, as Dallara is the only car builder that needs an FAA certification for their cars. But flying Dallaras aren't new. Just ask Dan Wheldon.

  4. Does anyone know how and where I can get involved and included?

  5. While the data supporting the success of educating our preschoolers is significant, the method of reaching this age group should be multi-faceted. Getting business involved in support of early childhood education is needed. But the ways for businesses to be involved are not just giving money to programs and services. Corporations and businesses educating their own workforce in the importance of sending a child to kindergarten prepared to learn is an alternative way that needs to be addressed. Helping parents prepare their children for school and be involved is a proven method for success. However, many parents are not sure how to help their children. The public is often led to think that preschool education happens only in schools, daycare, or learning centers but parents and other family members along with pediatricians, librarians, museums, etc. are valuable resources in educating our youngsters. When parents are informed through work lunch hour workshops in educating a young child, website exposure to exceptional teaching ideas that illustrate how to encourage learning for fun, media input, and directed community focus on early childhood that is when a difference will be seen. As a society we all need to look outside the normal paths of educating and reaching preschoolers. It is when methods of involving the most important adult in a child's life - a parent, that real success in educating our future workers will occur. The website www.ifnotyouwho.org is free and illustrates activities that are research-based, easy to follow and fun! Businesses should be encouraging their workers to tackle this issue and this website makes it easy for parents to be involved. The focus of preschool education should be to inspire all the adults in a preschooler's life to be aware of what they can do to prepare a child for their future life. Fortunately we now know best practices to prepare a child for a successful start to school. Is the business community ready to be involved in educating preschoolers when it becomes more than a donation but a challenge to their own workers?

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