Economic Development Agencies

State opens 2nd biz-development office in China

May 21, 2010
 IBJ Staff
Zhejiang Province office will be Indiana Economic Development Corp.'s seventh international location.
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Arcadia Resources says it will add 930 jobs

May 19, 2010
Scott Olson
Executives of the health care services provider will be joined by Gov. Mitch Daniels and Mayor Greg Ballard for a Thursday morning announcement at the company's headquarters.
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Wind energy jobs sought at Dallas trade show

May 19, 2010
 IBJ Staff
An economic development squad is heading to Dallas to woo wind-energy firms. Indiana ranked second in the nation last year in adding wind-generating capacity.
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Indianapolis Economic Development Inc. becomes Develop Indy

May 8, 2010
 IBJ Staff
Develop Indy was often confused with other business development groups, particularly the Indiana Economic Development Corp.
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Local economic development group changes its name

May 7, 2010
Peter Schnitzler
Indianapolis Economic Development Inc. rebrands itself as "Develop Indy" and moves from the Chase Tower's 19th floor to the 24th floor.
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California brewer to open Franklin plant, hire up to 150

April 15, 2010
 IBJ Staff
TailGate Beer said it will invest millions of dollars in machinery, equipment and energy-efficiency upgrades to establish operations in an existing 48,000-square-foot building in Franklin Business Park.
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Packaging company seeks abatement for expansion

April 6, 2010
Just Packaging on the east side of Indianapolis says it plans to invest in new equipment and hire 35 people by 2014.
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Urban expert lauds Indianapolis for progress

March 24, 2010
Scott Olson
Native Hoosier Aaron Renn, who writes the popular Urbanophile blog, said Indianapolis stacks up well against its Midwestern counterparts and can compete for jobs with national hot spots such as Portland, Ore.
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City economic development office hires international leader

March 19, 2010
Peter Schnitzler
Former Indiana Economic Development Corp. project manager will focus on developing business relationships with European companies.
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Trailer company buying closed northern Indiana factory

March 18, 2010
 IBJ Staff and Associated Press
Executives of Novae Corp. announced plans for the company's expansion in North Manchester, where it expects to employ perhaps 85 people by 2013.
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Dow Agro plans $340M expansion, 577 new jobs

March 4, 2010
Peter Schnitzler
The investment will greatly expand the company's research and development capacity and is a major win for the Indiana life sciences industry. Dow AgroSciences expects most of the positions to pay between $65,000 and $95,000 annually.
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Ballard to visit Brazil on business-development trip

March 3, 2010
Peter Schnitzler
Economic development mission targets clean technology and motorsports business-development opportunities.
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State launches Internet-based relocation tool

February 23, 2010
The Indiana Economic Development Corp.'s new Web site and buildings database, powered by a geographic information system, will provide access to real estate and demographic information.
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Bicycle-components manufacturer adding 105 jobs

January 27, 2010
Zipp Speed Weaponry said it will create 105 jobs by 2013 and invest $12.4 million in a new manufacturing plant in Indianapolis to make its high-end bicycle components.
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Express Scripts to add 182 pharmacy jobs by 2012

January 27, 2010
 IBJ Staff
Drug distribution firm that acquired former WellPoint subsidiary plans to consolidate specialty pharmacy work at local airport facility.
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Indianapolis Economic Development reports healthy 2009 job attraction, retention numbers

January 9, 2010
 IBJ Staff
The organization responsible for attracting new businesses to Marion County and helping companies already located here with expansion secured 11,135 job commitments and $157 million in private investment from 45 companies in 2009.
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Downtown life sciences corridor flagged for development

November 28, 2009
 IBJ Staff
A new task force is charged with making recommendations for development of the city’s downtown certified technology park.
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Frozen-food firm plans to add 350 jobs at New Albany plant

November 10, 2009
 IBJ Staff
New Albany-based Kemper Foods International LLC announced Tuesday morning that it will expand its food-production center in southeast Indiana, creating more than 350 new jobs by 2012.
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Military firm could create 500 jobs at former chemical site

November 5, 2009
 IBJ Staff and Associated Press
Telic Corp., a developer and manufacturer of United States military equipment, announced Thursday it will invest more than $1.2 million in the former Newport Chemical Depot in western Indiana, creating up to 500 jobs.
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Harley-Davidson eliminates Indiana from relocation list

November 4, 2009
 IBJ Staff and Associated Press
Harley-Davidson has announced that a Kentucky location is the only one it will consider if it decides to relocate its York, Pa., motorcycle plant, eliminating a site south of Indianapolis from contention.
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TechPoint to focus on IT firms specializing in medical, life sciences sectorsRestricted Content

October 31, 2009
Chris O'Malley
Long tracking the emergence of information technology firms involved in the health and life sciences sector, the state’s IT trade group, TechPoint, is undergoing a mitosis of sorts to help fuel the trend. It has created Advancing Life Science & Health Care Information Technology, or ALHIT, which will focus on growing this subset of the IT realm.
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New IT firm to create 400 jobs in Kokomo

October 28, 2009
 IBJ Staff
Zuna Infotech will locate in Kokomo's Inventrek Technology Park, a high-tech business incubator and state-certified technology park.
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Indy Partnership's Web site, newsletter recognized

October 6, 2009
Indy Partnership has been chosen to receive three Excellence in Economic Development Awards today at the International Economic Development Council's annual conference in Reno, Nev.
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Logistics firm expanding headquarters in Greenwood

October 6, 2009
Greenwood-based Avram Worldwide said today that it will expand its headquarters and distribution operations in the city, and plans to create 78 jobs by 2013.
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Whirlpool agrees to maintain Evansville operations

September 30, 2009
Whirlpool Corp. has notified state officials that it will continue to operate its refrigeration product development center in Evansville that employs nearly 300 people.
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  1. Apologies for the wall of text. I promise I had this nicely formatted in paragraphs in Notepad before pasting here.

  2. I believe that is incorrect Sir, the people's tax-dollars are NOT paying for the companies investment. Without the tax-break the company would be paying an ADDITIONAL $11.1 million in taxes ON TOP of their $22.5 Million investment (Building + IT), for a total of $33.6M or a 50% tax rate. Also, the article does not specify what the total taxes were BEFORE the break. Usually such a corporate tax-break is a 'discount' not a 100% wavier of tax obligations. For sake of example lets say the original taxes added up to $30M over 10 years. $12.5M, New Building $10.0M, IT infrastructure $30.0M, Total Taxes (Example Number) == $52.5M ININ's Cost - $1.8M /10 years, Tax Break (Building) - $0.75M /10 years, Tax Break (IT Infrastructure) - $8.6M /2 years, Tax Breaks (against Hiring Commitment: 430 new jobs /2 years) == 11.5M Possible tax breaks. ININ TOTAL COST: $41M Even if you assume a 100% break, change the '30.0M' to '11.5M' and you can see the Company will be paying a minimum of $22.5, out-of-pocket for their capital-investment - NOT the tax-payers. Also note, much of this money is being spent locally in Indiana and it is creating 430 jobs in your city. I admit I'm a little unclear which tax-breaks are allocated to exactly which expenses. Clearly this is all oversimplified but I think we have both made our points! :) Sorry for the long post.

  3. Clearly, there is a lack of a basic understanding of economics. It is not up to the company to decide what to pay its workers. If companies were able to decide how much to pay their workers then why wouldn't they pay everyone minimum wage? Why choose to pay $10 or $14 when they could pay $7? The answer is that companies DO NOT decide how much to pay workers. It is the market that dictates what a worker is worth and how much they should get paid. If Lowe's chooses to pay a call center worker $7 an hour it will not be able to hire anyone for the job, because all those people will work for someone else paying the market rate of $10-$14 an hour. This forces Lowes to pay its workers that much. Not because it wants to pay them that much out of the goodness of their heart, but because it has to pay them that much in order to stay competitive and attract good workers.

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  5. It is sad to see these races not have a full attendance. The Indy Car races are so much more exciting than Nascar. It seems to me the commenters here are still a little upset with Tony George from a move he made 20 years ago. It was his decision to make, not yours. He lost his position over it. But I believe the problem in all pro sports is the escalating price of admission. In todays economy, people have to pay much more for food and gas. The average fan cannot attend many events anymore. It's gotten priced out of most peoples budgets.

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