Economic Development

City considers whether to revoke 3M tax break

March 24, 2014
Kathleen McLaughlin
Minneapolis-based 3M spent nearly $16 million in 2008 on local buildings and equipment for Aearo Technologies, but hasn’t hit hiring targets set out in a seven-year tax-abatement agreement.
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IEDC promotes exec to lead business development

March 21, 2014
 IBJ Staff
In the new role, Anderson  will work directly with chief executives in Indiana and around the world to help them expand their businesses or move them to the Hoosier State.
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City to consider $7.7M bond issue to assist Broad Ripple project

March 18, 2014
Scott Olson
Browning Investments Inc. says that it is seeking $5.7 million from the bond issue to help finance Canal Pointe, its controversial $30 million apartments-and-retail project.
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More hiring coming to Indiana?Restricted Content

March 15, 2014
At first blush, a poll that suggests 40 percent of Hoosier businesses plan to invest money into their business this year sounds promising.
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UPDATE: Mayor picks GM site for criminal justice complex

March 13, 2014
Kathleen McLaughlin
Mayor Greg Ballard will recommend that a proposed criminal justice complex be located on the former GM stamping plant on the western side of downtown—not the airport property that ranked highest in a market study.
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City announces short list for creating justice complex

March 4, 2014
Kathleen McLaughlin
Indianapolis officials Tuesday named three development groups that will be invited to submit proposals to create a new criminal justice complex.
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Stonegate plans to add 400 workers in expansion

March 4, 2014
Chris O'Malley
The mortgage company plans to invest $6.2 million in new office space in Carmel, at the North Haven office park, helping it double its work force by 2017.
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Fourth quarter economic growth rate revised much lower

February 28, 2014
Associated Press
The U.S. economy grew at a 2.4-percent annual rate last quarter, sharply less than first thought, in part because consumers didn't spend as much as initially estimated. For all of 2013, the economy grew at a lackluster 1.9 percent.
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Tech startup plans 150 local jobs by 2018

February 27, 2014
 IBJ Staff
Gusto LLC, a tech startup founded by former ChaCha and Overstock.com executive Shawn Schwegman, said it will invest $975,000 to launch the company and its debut product.
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Food giant ConAgra plans huge center north of Indianapolis

February 25, 2014
 IBJ Staff
ConAgra Foods Inc. is expanding logistics operations in central Indiana by moving a distribution center in Lebanon to a new and bigger facility it plans to build in nearby Frankfort. The move is expected to create 76 jobs.
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Chamber recommends IPS explore selling real estate

February 24, 2014
J.K. Wall
Indianapolis Public Schools should immediately consider selling five of its buildings and work with IndyGo to transport students, according to a study by the Indianapolis Chamber of Commerce.
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Fishers' mayoral candidates disagree on best growth strategyRestricted Content

February 22, 2014
Andrea Muirragui Davis
The six Republicans vying to be Fishers’ first mayor fall into two camps on the key issue of growth: those who support recent efforts to spur business activity downtown, and those who advocate a more hands-off approach.
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Indy Eleven says new stadium crucial for long-term successRestricted Content

February 22, 2014
Anthony Schoettle
The Indy Eleven won’t play its first game for nearly seven weeks. But officials with the North American Soccer League franchise say there’s already an urgent need to plow ahead with building the team an $87 million stadium.
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Mayor wants to lure high-earners to boost income-tax baseRestricted Content

February 22, 2014
Kathleen McLaughlin
Mayor Greg Ballard's chief deputy has spent the past six months telling community and business leaders that the city simply cannot cut its way out of its revenue problems; it also needs to attract more people to live within city boundaries so they will pay their income tax to Indianapolis.
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Dunham's $30M expansion in Marion to create 135 jobs

February 19, 2014
 IBJ Staff
The sporting good retailer, which has more than 200 stores in 17 states, will consolidate distribution into a new, 735,000-square-foot building.
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Manufacturer plans expansions at two Indiana plants

February 10, 2014
Associated Press
Shiloh Die Cast Midwest LLC plans to expand two of its plants in northeast Indiana, leading to 145 new jobs by 2018, the company announced Monday night.
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Experts see limits to state's low-tax strategyRestricted Content

February 8, 2014
Kathleen McLaughlin
Thanks to a concerted effort to lower taxes and government spending, Indiana ousted Texas this year in the Tax Foundation’s annual ranking of business tax climates. Indiana now holds the No. 10 spot and could rise higher by eliminating the business personal property tax, an equipment tax that experts say deters investment.
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Weaver Popcorn picks Whitestown for new HQ, production line

February 5, 2014
Andrea Muirragui Davis
The firm plans to move its headquarters from Noblesville to the AllPoints at Anson development in Whitestown, where it expects to spend $18 million to add a production line and 40 jobs.
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Auto supplier plans 220-worker plant in Indiana

February 5, 2014
 IBJ Staff
Switzerland-based Autoneum Holding AG said it will lease 300,000 square feet on a 23-acre site at the River Ridge Commerce Center in Jeffersonville.
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City committee again delays vote on MSA tower’s financing

February 4, 2014
Scott Olson
Members of the Metropolitan and Economic Development Committee said they needed more information on Flaherty & Collins' proposed $81 million high-rise project on the former Market Square Arena site.
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Education group plans local expansion, 30 jobs

January 22, 2014
Project Lead the Way Inc., a not-for-profit education group that moved its headquarters from New York to Indianapolis in late 2011, plans to spend $1.7 million to expand its headquarters at The Precedent Office Park.
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Bill would create one-stop website for business owners

January 21, 2014
The bill specifies that the secretary of state’s office, and the departments of workforce development and revenue work together to develop and maintain the website.
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IMF raises outlook for global, U.S. economies

January 21, 2014
Associated Press
The International Monetary Fund is slightly more optimistic about the global and U.S. economies this year than it was three months ago.
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Software firm seeks tax breaks for HQ move, expansion

January 14, 2014
 IBJ Staff
The Consultants Consortium Inc., which does business as TCC Software Solutions, said it plans to spend about $1.3 million to renovate two buildings on a 3.6-acre property at the northeast corner of Winthrop Avenue and East 52nd Street.
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Governor backs alternative business tax cut

January 14, 2014
Associated Press
Indiana Gov. Mike Pence threw his support behind House Republicans' watered-down business tax proposal Tuesday amid outcry from local leaders over the potential to damage their already cash-strapped budgets.
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  4. The question is, where could they build a new stadium? It seems in the past year, all the prime spots have been spoken for with potential projects. Maybe in the industrial wasteland area a block past Lucas Oil? I think it needs to be close to the core, if a new stadium is built.

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