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IPL parent eyes Indy for corporate services hub

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The parent company of Indianapolis Power & Light Co. has been considering Indianapolis as the hub for a new shared-services center, and is planning a major economic development announcement in the city on Friday.

AES Corp., a multinational energy provider based in Arlington, Va., revealed its intentions in correspondence with the Indiana Utility Regulatory Commission, which would have to review any service-center agreement.

Many utility holding companies have used service companies to more efficiently provide back-office support to their subsidiaries, AES General Counsel Vincent Mathis said in a March 7 letter to IURC General Counsel Doug Webber.

"In fact, AES is considering making Indianapolis the main hub for the AES service company, which would bring new, high-quality jobs to Indianapolis," Mathis wrote.

Indianapolis Power & Light and Dayton Power & Light are AES's two North American subsidiaries.

IPL and city of Indianapolis officials declined to comment Thursday about a pending economic-development announcement. Gov. Mike Pence will join IPL executives at 9 a.m. Friday at the company's Monument Circle headquarters for the announcement.

AES is looking to cut costs throughout the corporation, and it makes sense that it would choose Indianapolis as the North American hub, said Charles Fishman, who covers AES stock for Morningstar. IPL is bigger and more profitable than Dayton Power & Light, and AES is planning to invest more than $1 billion in its Indiana power plants, he said.

"Indianapolis Power and Light has a reputation as being a very well-run utility," Fishman said.

IPL's chief executive, Ken Zagzebski, is also president of AES' North American strategic business unit, which covers Dayton Power & Light.

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  1. In reality, Lilly is maintaining profit by cutting costs such as Indiana/US citizen IT workers by a significant amount with their Tata Indian consulting connection, increasing Indian H1B's at Lillys Indiana locations significantly and offshoring to India high paying Indiana jobs to cut costs and increase profit at the expense of U.S. workers.

  2. I think perhaps there is legal precedence here in that the laws were intended for family farms, not pig processing plants on a huge scale. There has to be a way to squash this judges judgment and overrule her dumb judgement. Perhaps she should be required to live in one of those neighbors houses for a month next to the farm to see how she likes it. She is there to protect the people, not the corporations.

  3. http://www.omafra.gov.on.ca/english/engineer/facts/03-111.htm Corporate farms are not farms, they are indeed factories on a huge scale. The amount of waste and unhealthy smells are environmentally unsafe. If they want to do this, they should be forced to buy a boundary around their farm at a premium price to the homeowners and landowners that have to eat, sleep, and live in a cesspool of pig smells. Imagine living in a house that smells like a restroom all the time. Does the state really believe they should take the side of these corporate farms and not protect Indiana citizens. Perhaps justifiable they should force all the management of the farms to live on the farm itself and not live probably far away from there. Would be interesting to investigate the housing locations of those working at and managing the corporate farms.

  4. downtown in the same area as O'malia's. 350 E New York. Not sure that another one could survive. I agree a Target is needed d'town. Downtown Philly even had a 3 story Kmart for its downtown residents.

  5. Indy-area residents... most of you have no idea how AMAZING Aurelio's is. South of Chicago was a cool pizza place... but it pales in comparison to the heavenly thin crust Aurelio's pizza. Their deep dish is pretty good too. My waistline is expanding just thinking about this!

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