Economic Development

Feds' new data adds shine to Hoosier incomesRestricted Content

August 23, 2014
Norm Heikens
In April, the U.S. Bureau of Economic Analysis began considering cost of living alongside the stew of income figures it has long collected, and the new, adjusted income numbers make both the metro area and the state look like better places to live.
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Noblesville eyes plans for $10M park, amphitheater

August 22, 2014
Andrea Muirragui Davis
Officials hope to bolster the city's "hipstoric" downtown and jump-start redevelopment of a key community gateway. But the price strikes some as steep.
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Indianapolis Downtown Inc. to go by new name

August 20, 2014
 IBJ Staff
Indianapolis Downtown Inc., a 21-year-old public-private promotional group, plans to do business under a new name as part of a strategic plan, it announced Wednesday morning.
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Carmel sports marketing firm plans headquarters expansion

August 19, 2014
U/S Sports Advisors said it will spend $1.1 million on an expansion at its Carmel headquarters, increasing employment by 36 jobs by the end of 2018.
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Real estate company proposing $26 million development

August 18, 2014
 IBJ Staff
Becknell Industrial LLC has proposed a $26 million, three-building development on the northwest side of Indianapolis that would be ready for tenants by early 2015.
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Cardinal Health unit seeks tax breaks for local drug facility

August 18, 2014
 IBJ Staff
A subsidiary of Dublin, Ohio-based Cardinal Health Inc. is seeking tax breaks from the city of Indianapolis to help it open a $14.4 million local drug-production facility that would employ 85 workers by 2017.
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Sun King plans $8.8M brewery, tasting room in Fishers

August 18, 2014
Andrea Muirragui Davis
Homegrown craft-beer maker Sun King Brewing Co. plans to build a second production facility and tasting room in Fishers, adding capacity as it widens its reach. The Town Council will consider a $2.5M economic development deal Monday night.
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Hendricks County pitching motorsports skill, expertise to medical manufacturers

August 16, 2014
Anthony Schoettle
Hendricks County finds pay dirt pitching skills of racing industry to medical device manufacturers.
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Mattress maker plans 300 jobs in Plainfield

August 14, 2014
 IBJ Staff
Mattress maker Tempur Sealy International Inc. plans to open a manufacturing and distribution facility in Plainfield, creating up to 300 jobs by the end of 2015, the Lexington, Kentucky-based company announced Thursday afternoon.
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State needs better water management, report says

August 8, 2014
Associated Press, Allie Nash, The Statehouse File
The Indiana Chamber of Commerce warns that demand for water from businesses and residents could outstrip the available supply in coming decades.
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Report: Indiana consumer spending rebounds from recession

August 8, 2014
Associated Press
A new report by the U.S. Commerce Department shows that consumer spending in Indiana has rebounded from the end of the Great Recession faster than the national average.
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Hospital services center to hire up to 320 workers

August 7, 2014
 IBJ Staff
An affiliate of Lutheran Health Network in northeast Indiana that concentrates on health-related businesses services expects to nearly triple its workforce.
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Elwood Staffing to add 40 jobs at Columbus HQ

August 5, 2014
 IBJ Staff
The company, which already employs 200 in Indiana and 1,000 across the country, will accommodate the expansion by buying and renovating a building across the street from its current headquarters.
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ITT Educational shares reeling after deal falls through

August 4, 2014
Bloomberg News
The real estate deal would have brought as much as $119.1 million for the struggling, Carmel-based education firm.
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Green BEAN Delivery plans $3.8M expansion

August 1, 2014
 IBJ Staff
The fast-growing local company, which already employs more than 200, plans to add up to 105 workers by 2024.
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Carmel budget hawks want harder line on deals with developers

July 26, 2014
Andrea Muirragui Davis
The Carmel Redevelopment Commission’s 2014 revenue is estimated to exceed expenses by less than $100,000—a narrow margin for an agency with annual debt payments totaling $17.5 million.
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Lowe's plans massive local call center, sources say

July 21, 2014
 IBJ Staff
Home improvement retail giant Lowe’s Companies Inc. plans to open a call center on the northwest side of Indianapolis that could employ as many as 1,000 workers, sources familiar with the deal said Monday.
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Developer seeks $11.5M subsidy for Carmel project

July 21, 2014
Andrea Muirragui Davis
Edward Rose Development Group is asking the city to issue tax-increment financing bonds to help pay for a parking garage and infrastructure in an $80 million project it's planning.
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Pence wraps up UK trade trip after blitz of meetings

July 17, 2014
Allie Nash, The Statehouse File
The governor met Wednesday with a company considering Indiana for its U.S. operations, but his office would not identify the firm.
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Maplehurst plans expansion into Lebanon, 219 jobs

July 14, 2014
 IBJ Staff
Maplehurst, which is based in Brownsburg, said it will renovate and equip a 180,000-square-foot facility in Lebanon that will house the warehouse, distribution and manufacturing operations for its cake and cupcake products.
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Indiana county planning to start aquaculture park

July 14, 2014
Associated Press
A central Indiana county is working on plans for a 60-acre aquaculture park in hopes of attracting more business connected with fish production.
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Excise police warn retirement home about social-hour alcohol

July 12, 2014
Associated Press
Indiana excise police told Meadowood Retirement Community that it could no longer serve its residents alcohol without a state liquor license from the Indiana Alcohol and Tobacco Commission.
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UPDATE: Hoosier roots keep Jarden Home HQ in Indiana

July 9, 2014
Andrea Muirragui Davis
Jarden Home Brands considered out-of-state sites for a new distribution center to serve its growing consumer-products business, but leaders opted to stay close to home. The Daleville-based company plans to move its headquarters to Fishers.
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Jarden Corp. unit plans HQ in Fishers

July 9, 2014
Andrea Muirragui Davis
A subsidiary of the consumer products giant behind Ball jars, Yankee Candles, Crock-Pots and Coleman tents plans to spend nearly $22 million to open a regional headquarters and distribution center in Fishers that could employ nearly 300.
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Greensburg factory to invest $28M, add 250 workers

July 8, 2014
 Associated Press and IBJ Staff
Workers will be hired as global firm Valeo buys new equipment for its 400,000-square-foot engine cooling factory to start new product lines for Honda, Nissan, Chrysler and Ford.
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  1. PJ - Mall operators like Simon, and most developers/ land owners, establish individual legal entities for each property to avoid having a problem location sink the ship, or simply structure the note to exclude anything but the property acting as collateral. Usually both. The big banks that lend are big boys that know the risks and aren't mad at Simon for forking over the deed and walking away.

  2. Do any of the East side residence think that Macy, JC Penny's and the other national tenants would have letft the mall if they were making money?? I have read several post about how Simon neglected the property but it sounds like the Eastsiders stopped shopping at the mall even when it was full with all of the national retailers that you want to come back to the mall. I used to work at the Dick's at Washington Square and I know for a fact it's the worst performing Dick's in the Indianapolis market. You better start shopping there before it closes also.

  3. How can any company that has the cash and other assets be allowed to simply foreclose and not pay the debt? Simon, pay the debt and sell the property yourself. Don't just stiff the bank with the loan and require them to find a buyer.

  4. If you only knew....

  5. The proposal is structured in such a way that a private company (who has competitors in the marketplace) has struck a deal to get "financing" through utility ratepayers via IPL. Competitors to BlueIndy are at disadvantage now. The story isn't "how green can we be" but how creative "financing" through captive ratepayers benefits a company whose proposal should sink or float in the competitive marketplace without customer funding. If it was a great idea there would be financing available. IBJ needs to be doing a story on the utility ratemaking piece of this (which is pretty complicated) but instead it suggests that folks are whining about paying for being green.

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