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Indianapolis Economic Development Inc. boasts job-creation success

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On The Beat Industry News In Brief

If Indianapolis Economic Development Inc. CEO Scott Miller ever feels like a refrigerator salesman at the North Pole, he’s not letting on. In the worst recession since the Great Depression, it must be difficult to broker business expansions. But Miller’s making no excuses for the city’s job creation and retention figures. In fact, he’s touting them.

Miller

“In any given economy, somebody’s going to have their best year ever,” he said. “We’re trying to find these companies and help them grow.”

Miller took charge of IEDI a year ago for Republican Mayor Greg Ballard. So far in 2009, IEDI reports it has completed 30 projects, resulting in 2,295 new jobs created as of Sept. 14. IEDI’s efforts this year have also retained 3,476 jobs at businesses that considered moving elsewhere. And Miller said IEDI’s activities have convinced companies to make $132.9 million in local capital investments.

Still, the numbers are down from 2006, the best year for local economic development in recent memory, when the city landed $625.9 million in capital investments from businesses that created 4,921 new jobs and retained 14,207 more.

Miller, who commands a staff of 10, points to success stories such as the expansions of locally based AIT Laboratories, BioStorage Technologies, Comlux Corp. and StreetLinks National Appraisal Services. IEDI had a hand in all their expansions.

IEDI hasn’t propped up its numbers by using lavish incentives.

Under Miller, IEDI has been downright stingy with tax abatements, attracting $18.01 on average in private investment for every $1 of property-tax exemption authorized. That’s much higher than the ratio under Ballard’s Democratic predecessor Bart Peterson, when the amount of private investment gained per $1 ranged in various years from $3.39 to $15.89.

 

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  • IBJ....really!?
    I wish I had all the time in my life back that I have invested in reading worthless articles & tidbits from the IBJ. As a conservative, I am just not on this "Ballard & Company" bandwagon. This blurb was straight propaganda - how about some details of these deals the IEDI has supposedly done? Over how many years were these economic "investments" in Indianapolis committed? - and I love hearing "retained" next to the word "jobs." That's like the Obama Administration claiming they "saved" x number of jobs. I would like to know the net effect of "retaining" these jobs - something is always given away, whether it's tax incentives or training grants. By the way, the Indianapolis GDP is nearly $90 billion, does $133 million over X years create a ripple? I am not suggesting the IEDI is not a valuable organization, but let's not pat this mayor on the back just yet.

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  1. I had read earlier this spring that Noodles & Co was going to open in the Fishers Marketplace (which is SR 37 and 131st St, not 141st St, just FYI). Any word on that? Also, do you happen to know what is being built in Carmel at Pennsylvania and Old Meridian? May just be an office building but I'm not sure.

  2. I'm sorry, but you are flat out wrong. There are few tracks in the world with the history of IMS and probably NO OTHER as widely known and recognized. I don't care what you think about the stat of Indy Car racing, these are pretty hard things to dispute.

  3. Also wondering if there is an update on the Brockway Pub-Danny Boy restaurant/taproom that was planned for the village as well?

  4. Why does the majority get to trample on the rights of the minority? You do realize that banning gay marriage does not rid the world of gay people, right? They are still going to be around and they are still going to continue to exist. The best way to get it all out of the spotlight? LEGALIZE IT! If gay marriage is legal, they will get to stop trying to push for it and you will get to stop seeing it all over the news. Why do Christians get to decide what is moral?? Why do you get to push your religion on others? How would legalizing gay marriage expose their lifestyle to your children? By the way, their lifestyle is going to continue whether gay marriage is legalized or not. It's been legal in Canada for quite a while now and they seem to be doing just fine. What about actual rules handed down by God? What about not working on Sundays? What about obeying your parents? What about adultery? These are in the 10 Commandments, the most important of God's rules. Yet they are all perfectly legal. What about divorce? Only God is allowed to dissolve a marriage so why don't you work hard to get divorce banned? Why do you get to pick and choose the parts of the Bible you care about?

  5. Look at the bright side. With the new Lowe's call center, that means 1000 jobs at $10 bucks an hour. IMS has to be drooling over all that disposable income. If those employees can save all their extra money after bills, in five years they can go to the race LIVE. Can you say attendance boost?

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