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Economic Development
State unrolls insurer-friendly plan: New strategy aims to recruit, nurture insurance businesses; watchdogs wary of approach
September 5, 2005
Tom MurphyThe state of Indiana is aggressively courting the insurance industry to add high-paying jobs to the economy, a strategy that
comes with a touch of controversy. The Indiana Economic Development Corp. announced late last month the appointment of Mike
Chrysler as Indiana's first-ever director of insurance initiatives. Chrysler then hit the ground driving. He's already visited
the Fort Wayne market and plans to reach several other corners of Indiana to let insurers know the state appreciates their
business and wants...
MoreCity's mall gamble paid off: After 10 years, Circle Centre at core of rejuvenated downtown
September 5, 2005
Greg AndrewsIn February, Goldsmith suspended construction while he and advisers analyzed options. Within months, he gave Circle Centre
the green light, and construction resumed-but not because he was convinced the project would succeed. "In the end, we decided
job creation in the urban core and the psychological survival of the city were dependent on some development occurring downtown,"
recalled Goldsmith, now a professor at Harvard University. "We went forward with the mall with great anxiety." Today, 10 years
after the September...
MoreEthanol fuel pumps may debut here by '06: Still no place for the masses to buy E85, despite interest in the alternative to
gasoline
August 29, 2005
Chris O\'malleyEven though Indiana is one of the nation's biggest growers of corn-the key ingredient in cheaper-than-gasoline ethanol-not
a single ethanol pump is available to the average motorist in the Indianapolis area. That twisted irony in a day of record
gasoline prices may soon be no more, with a handful of central Indiana gas stations likely to start offering an ethanol alternative-known
as E85-by yearend, according to proponents of the fuel. "I hope by Christmas to have a couple in the...
MoreTrio use experience to start consultancy: State-government veterans met while at FSSA
August 29, 2005
Scott OlsonThree veterans of state government have pooled their years of management experience to launch the women-owned business consultancy
Engaging Solutions LLC. Led by Venita Moore and Debra Simmons Wilson, the company set up shop in the Indiana Black Expo building
on North Meridian Street this spring to provide fiscal management, strategic planning, outreach, training and economic development
services. They and part-time principal Tammy Butler Robinson say the firm's focus on serving government agencies, not-forprofits
and faith-based organizations fits their backgrounds....
MoreNOTIONS: Variety spices our Midwestern life rather nicely
August 29, 2005
Bruce HetrickGot an invitation in the mail. It was addressed to "Bruce Hetrick and Guest." The invitation was from a client. It said my
guest and I could join him at an upcoming Marsh Symphony on the Prairie performance. I could choose between a pops concert
called "The Golden Age of Black and White," a Mozart classical concert or "Big Band Night." My guest likes to dance. So I
chose "Big Band Night." The concert was Friday night. Thousands of people...
MoreIncubator under new ownership: Aim is to return center to its entrepreneurial mission
August 29, 2005
Scott OlsonAny small-business incubator can offer tenants Internet service, fax machines and conference rooms. But what about the convenience
of on-site oil changes or the stress relief of a pinball machine? For Scott Meyers, new owner of the revamped Indianapolis
Enterprise Center, the extra incentives are just a small part of his overall plan to make the neareast-side facility more
attractive to fledgling entrepreneurs. Meyers, 36, bought the former A&P grocery warehouse in May. He declined to disclose
the purchase price...
MorePension fund opens coffers: $506M could be boon for venture capitalists
August 22, 2005
Peter SchnitzlerThe Public Employees' Retirement Fund, Indiana's largest pension system, is preparing to unleash half a billion dollars into
venture capital, real estate and other privateequity investments. And the fund's managers aim to put the bulk of it to work
inside state lines. Hoosier venture capitalists are salivating at the prospect. T h a t 's t h e equivalent of nearly seven
BioCrossroads Indiana Future Funds. "If there are excellent opportunities to invest in Indiana, we ought to be looking...
MoreVIEWPOINT: Asian trade mission: different kind of trip
August 22, 2005
Mickey MaurerSweat and fatigue. These two conditions dominate my memories of the recent trade mission to Taiwan and Japan. The week-long
mission led by Gov. Mitch Daniels was the largest ever of Indiana business leaders and state officials to these countries.
Many of the more-than-70-member delegation had independent agendas. Those of us who accompanied the governor never had an
opportunity to adjust to the Asian clock, which was 14 hours later than Hoosier time (whatever that means). Most days were
packed...
MoreMuseum deflects pork perceptions: Policy wonks decry grant of $12.5M in transportation funds
August 22, 2005
Chris O\'malley"Why are taxpayers in California and Texas and Massachusetts paying for a museum in Indianapolis?" David Boaz, executive vice
president of the Washington-based Cato Institute, wrote on the think tank's Web site in May as the bill was coalescing. The
Children's Museum of Indianapolis landed the grant under the $286 billion transportation bill signed by President Bush this
month. The grant was included in the bill courtesy of Rep. Julia Carson, D-Indianapolis. "Congress constantly uses the Department
of Transportation's budget...
MoreAdidas sale could bring changes to former Reebok facility: German sports giant has a history of using overseas manufacturing
sites
August 15, 2005
Anthony SchoettleAdidas' plan to buy Massachusettsbased Reebok International Inc. for $3.8 billion has put the future of Reebok's eastside
manufacturing plant in doubt again. Though Reebok officials insist the immediate future is secure for the 600,000-square-foot
operation off Post Road, industry experts say changes are on the way. Reebok took ownership of the facility in 2001 when it
bought Indianapolis-based licensed apparel maker Logo Athletic out of bankruptcy court. Since then, Reebok has invested heavily
and expanded local staff from 400...
MoreGroup wants energy czar: Coalition believes utilities slow to climb on efficiency bandwagon
August 15, 2005
Chris O\'malleyChris Maher's crews at Thermo-Scan Inc. have been plenty busy inspecting for drafts and puny insulation in many of the 14,000
new homes built each year in the metro area. Even so, the principal at the Carmel firm can't help wonder about the vast potential
to make the hundreds of thousands of existing homes and businesses more energy efficient-if only homeowners had a little more
incentive. Utility companies, he says, have relatively few dollars budgeted to coax customers to install...
MoreECONOMIC ANALYSIS: Indiana's 2 economies: Indy and everyone else
August 15, 2005
Patrick BarkeyI work for a state university. That's an important reason why I try to keep up to date on what is happening in the state economy.
That involves tracking what's going on with things like job growth, unemployment rates, and earnings across the state. I also
try to judge how the state's economy is performing against other states, particularly those in the Midwest. That's convenient,
but it's also a little misleading. Because for quite some time there really have been...
MoreVOICES FROM THE INDUSTRY: Reaping the benefits of the American Jobs Act
August 15, 2005
Michael FrittonAstute real estate professionals should be taking advantage of several tax-saving provisions of the American Jobs Creation
Act of 2004. The act was signed by President Bush last October to spur economic development and investment. The primary components
of the Amer ican Jobs Creation Act include increased depreciation deductions on leasehold improvements, greater flexibility
for real estate investment trusts, modification of expensing rules for equipment and vehicles, and a reduction in the tax
rate for domestic manufacturing activities. Leasehold improvements...
MoreIndustry making push for creation of state fraud unit: Indiana one of only 10 states without insurance fraud agency, but funding
issues could be major obstacle
August 8, 2005
Scott OlsonMembers of the insurance industry have begun a campaign to bolster the state's fight against fraud by targeting the creation
of a bureau to help combat the crime. Indiana is one of only 10 states without an agency addressing insurance fraud, according
to the Washington, D.C.-based Coalition Against Insurance Fraud. But the goal of the task force convened by Jim Atterholt,
commissioner of the Indiana Department of Insurance, is to have a fraud bureau operating within his department sometime next...
MoreRising star in GOP recasts job agency: New chief uses secret shoppers, dress code to shake up state's work force development
August 8, 2005
Peter SchnitzlerIndiana Department of Workforce Development Commissioner Ronald Stiver says the world is flat, with the United States no longer
having mountainous advantages over other nations. And Stiver knows Hoosiers must prepare for it to get even flatter. "You're
talking to the converted," Stiver said. "I believe in the 21st century, the major lever for economic development will be work-force
development." Stiver, 31, is reorganizing DWD with the new flat world in mind. He envisions an agency that moves beyond doling...
MoreTax credits aid blighted areas: Help open to firms targeting Center Township projects
July 25, 2005
Scott OlsonFederal tax credits supporting roughly $6 million in economic development projects are still available for small-business
owners considering expanding or locating in Center Township. The funds are administered through the New Markets Tax Credit
Program, which was established by Congress in 2000 to help revitalize blighted areas. In Indiana, the locally based Urban
Enterprise Association Inc. helped secure tax credits that can fund $50 million worth of projects, including $12.5 million
in Marion County. The tax credits already are supporting...
MoreTech-park program tightens guidelines: Daniels administration hopes grants spur more innovation
July 25, 2005
Peter SchnitzlerIn Shelbyville, home of the state's third certified technology park, economic development officials are excited. They just
broke ground on a promising new park business: A Santa Fe Steakhouse. Since 2003, the state has approved $1.2 million for
Shelbyville to help develop its technology park-one of 17 now scattered across Indiana, each meant to modernize the state
through the attraction and development of high-tech companies. In total, the state has approved $9 million in grants since
the certified technology park...
MoreNew director brings experience to center: Woodall to mentor entrepreneurs at Purdue facility
July 25, 2005
Scott OlsonJerry M. Woodall, the new director of Purdue University's ambitious entrepreneurship center, enjoyed an illustrious career
spanning three decades at International Business Machines Corp. But for the 66-year-old New Englander, a job at New York-based
IBM emerged only after another public corporation, The Gillette Co. in Boston, rescinded its offer. It did so, oddly enough,
after learning he had only one eye. A cataract led doctors to remove his left eye after birth. "I distinctly remember them
telling me I'd...
MoreMarian College launches motorsports curriculum: Classes to focus on business side of racing
July 4, 2005
Anthony SchoettleThis fall, Marian College will begin offering a unique curriculum focused on the business of motorsports. Initially, motorsports-related
classes will be offered within Marian's sports management program, but school officials said they'd like to expand the program
to offer a minor and major in motorsports management. Unlike programs at Purdue University, IUPUI and Rose-Hulman Institute
of Technology, Marian's courses will not focus on computers and engineering. Instead, the program will instruct students in
marketing, communications, sales and business management in...
More'Clean' manufacturing center seeking cash to survive: General Assembly kills funding for Purdue program
June 27, 2005
Chris O\'malleyThe center created by the Legislature to help manufacturers use environmentally friendly materials and production methods
is scrambling for cash to keep stamping out solutions. The Indiana Clean Manufacturing Technology & Safe Materials Institute
lost its $475,000 annual state subsidy-a little over half its income-amid budget cutting in the last session of the General
Assembly. Industry and environmental groups are lamenting the potential scale-back or even closure of the institute if new
funding isn't found by August. "We certainly feel...
MoreTaking the pulse of life sciences: Experts weigh in on whether Indiana is keeping up in the economic development race
June 27, 2005
IBJ: Is Indiana gaining ground against other states in the race to grow as a life sciences hub? What are some specific benchmarks
that underscore your opinion? JOHNSON: Indiana is gaining ground, but Indiana already starts on really very substantial ground.
There are a lot of outside validations of that and I think it's important for this audience to hear a couple of them because
there is nothing like having people on the outside pay attention to what we're doing...
MoreVC tax credit rarely used by startups: Less than 17 percent of incentives tapped
June 27, 2005
Peter SchnitzlerLast year, Indiana approved tax credits worth nearly $16.3 million to encourage speculation on local high-tech startups. Investors
left most of the credits-$13.5 million worth-on the table. The highly touted Indiana Venture Capital Investment tax credit
program debuted in January 2004. It allows investors in approved startups to write 20 percent of their outlay off their state
taxes. Indiana certified 42 young companies last year as eligible for its venture capital credit. According to the Indiana
Economic Development Corp., investors...
MoreVIEWPOINT: Creativity is key to competitive advantage
June 20, 2005
Christopher ViceCentral Indiana is flat as a result of the Laurentide ice sheet that surged toward Indianapolis 17,000 years ago. Today, the
whole world is flat as a result of the technological and social seismic shifts that effectively leveled the economic world,
and "accidentally made Beijing, Bangalore and Bethesda next-door neighbors," says Thomas L. Friedman, foreign affairs columnist
for The New York Times. Richard Florida, researcher on regional economic development, challenges Friedman's metaphor. Florida
says, "The world is even more concentrated,...
MoreCity to land more aircraft mechanics: Lease calls for Republic to add 186 jobs
June 13, 2005
Chris O\'malleyRepublic Airways Holdings plans to add nearly 200 aircraft maintenance jobs at Indianapolis International Airport, based on
employment projections in a lease the carrier recently signed for a new hangar. The Indianapolis-based regional carrier that
employs 114 mechanics here "agrees to use commercially reasonable efforts to achieve average employment of 300 full-time Indiana
resident employees at the facility ... at an average salary of $18 per hour during the first year," states a lease signed
April 15 with the Indianapolis...
MoreSPORTS: 'Our' future extends beyond Marion County line
June 13, 2005
Bill BennerNOBLESVILLE-That Gov. Mitch Daniels, aboard his RV-1, was caught in the daily late-afternoon I-69, State Road 37 traffic snarl
and was a half-hour late for his Hamilton County town meeting here last week represented a theme of his presentation. We are
no longer a city, but a region. With that in mind, Our Man Mitch has been venturing to the counties contiguous to Marion,
pitching the pending 1-percent food and beverage tax that will supply a small-emphasis on small, an...
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Saw the Indy Men's Chorus "Music of Gilbert & Sullivan" at the Indiana Historical Society on Sunday evening.
Temporary workers are not "tools" they are people and companies that keep large amounts of temp staff are cheating.
I miss having them around. I hope one of their stores is in the general Meridian/86th Street area. I will make good use of it.
The Fringe! Plus, the simple fact that there are so many local faves in such close proximity to each other.
I remenber, watching the toll road, being built, through South Bend, when I was 10 years old. I believe, back then that it was estimated, that the toll road, would be paid for in 20 years and then it would be free. I am now 71, what happened? Since the power is in the people, by that, I mean that, we the people are in total control of everything. I, suggest that no one ever use the toll road again, let it go broke. We the people can control the price of everything, from groceries to gas, if we would just do it. If we don't pay the asking price, the sellers will lower the price and if we wait awhile, they will lower the price to what we accept as reasonable. I would like to know why a highway like interstate 94, is so well maintained, a much better highway, than the toll road, but has no tolls. I would also like to know why, a sitting governor, with a term limit, maximum of eight years, can lease, public property, for 75 years. Even though I have transponders in both of my trucks and will not be affected by the increase, I have been and will contine to avoid using the toll road. I make many trips from northern Indiana to Chicago, every year, and I prefer the better highway, I94!