Economic Development

NOTIONS: Dear philanthropist: Make me a daydream believerRestricted Content

September 18, 2006
Bruce Hetrick
Last month, I picked up my boys in Fort Wayne, drove north on Interstate 69, hooked a left at Interstate 94, and got off at the Portage, Mich., exit. There, we whiled away the weekend at a family reunion. The grownups ate too much, caught up on gossip and puttered around the lake in the speedboat. The teenagers, whom we rarely saw, did X-Box battle in the basement. On Sunday, after the kids had surfaced for lunch and the grandparents...
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DIFFERENT TAKES: IS IT IMPORTANT FOR COMPANIES TO STAY LOCAL?Restricted Content

September 18, 2006
Mergers not only good for investors Keeping local roots is high priority DIFFERENT TAKES IS IT IMPORTANT FOR COMPANIES TO STAY LOCAL? When entrepreneurs or investors start companies, they do so with a goal in mind. That goal might be to create jobs, create value for investors or shareholders, develop local talent, build long-term capabilities for the company and the state's economy, produce a profit, or all of these. Chances of success rise as we embrace the idea of an...
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Biofuel plans have suppliers stokedRestricted Content

September 18, 2006
Chris O'Malley
Indiana's plan to become the Middle East of biofuels could be a boon well beyond the rural towns that will welcome more than a dozen refineries . Firms that make and supply parts and expertise needed to build the $1.8 billion in ethanol and biodiesel plants--and related infrastructure--are gearing up.
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State's new arts leader plans to take more public role: Indiana Arts Commission's strategy calls for Executive Director Lewis Ricci to be a vocal advocate for fundingRestricted Content

September 11, 2006
Jennifer Whitson
In the fall of 2005, the Indiana Arts Commission started a rigorous study to draft its next five-year strategy. After public hearings around the state, the full 15-member arts commission voted this summer to adopt the new plan. And now commissioners have someone to implement it. The chosen man, Lewis Ricci, is itching to take over the spot and turn the commission into a bully pulpit for the importance of the arts-and the need for public funding. "Advocacy is one...
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TOM HARTON Commentary: Crime takes indirect swipe at the artsRestricted Content

September 11, 2006
In Indianapolis, when the crime rate goes up or kids' test scores go down, it's not uncommon for people to point the finger at publicly funded sports facilities. "Our priorities are screwed up," observers opine. "We spend too much money on these playgrounds for the rich, and not enough on cops, courts and public education." The sports establishment here has been batting away this criticism for years. It goes with the territory in a city where sports is an important...
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Cleanup of contamination in store for new Claus site: Sausage shop owner redeveloping brownfield propertyRestricted Content

September 4, 2006
Scott Olson
It's 2:30 p.m. on a Tuesday and a steady stream of customers continues to patronize Claus' German Sausage and Meat Market on East South Street. By March, however, the butcher shop likely will have abandoned its longtime home for a new building on South Shelby Street in Fountain Square. Whether its loyal clientele will follow concerns owner Claus Muth, who purchased the store from relative Gerhard Klemm in 2003 and changed the name from Klemm's in April. "Since [the new...
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Pepsi considering mammoth warehouse on west side: Sources say firm's been scouting sites since springRestricted Content

September 4, 2006
Jennifer Whitson
A firm representing PepsiCo Inc. has been scouting sites on Indianapolis' west side for a mammoth warehouse and distribution facility, and sources said the beverage giant is leaning toward a site near its Gatorade bottling plant. Local real estate brokers said Chris Clayton, a broker with the Cleveland office of Dallas-based Staubach Co., visited sites and put out a request for proposals for the project in early April, calling for 1 million square feet of industrial space with the possibility...
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IEDC shelves proposal to copy Ohio initiative: Program matches promising startups with capitalRestricted Content

August 28, 2006
Peter Schnitzler
An Ohio program launched in 2003 to urge development of extremely earlystage companies has already spurred investments worth $239 million in 68 Buckeye startups. Venture capitalists would like to duplicate the program here. But their proposal has been languishing at the Indiana Economic Development Corp. for a month. "We have the application. We haven't done anything with it," said IEDC Director of Small Business and Entrepreneurship Bruce Kidd. "This is a classic steeple chase. You've got lots of hurdles to...
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ECONOMIC ANALYSIS: State employment growth is weaker than you thinkRestricted Content

August 28, 2006
Patrick Barkey
There's a real buzz about job growth in Indiana these days. Announcements of job creation, big and small, are echoing through the business media, and many economic development officials tell us their phones are ringing with calls from new prospects at a rate they haven't seen in years. Yet the data used by most of us to track job growth tell a slightly more sobering story. The 2.94 million workers on Indiana payrolls in July, as reported by the Department...
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IU hires consultant for business plan overhaulRestricted Content

August 21, 2006
Peter Schnitzler
Taking a page from Purdue University's playbook, Indiana University has quietly put its economic-development efforts under review. IU hired Chicago-based Huron Consulting Group this month to examine its process of economic development and evaluate whether it matches Gov. Mitch Daniels' business-first agenda.
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SPORTS: A grim look at what the city's future could holdRestricted Content

August 21, 2006
Bill Benner
I was having a fitful time trying to sleep. For some reason, the word "priorities" kept running through my mind. Then, suddenly, I felt as if I were awake, standing in downtown Indianapolis. I caught site of a calendar in a storefront window. I blinked and shook my head. It read August 2026, but the city didn't look 20 years more modern. If anything, it looked 20 years older. It was as if time had passed by the Indy I...
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Developers eye extension for opportunities: Four-mile link of 146th Street from S.R. 37 to I-69 in Noblesville will turn road into important thoroughfareRestricted Content

August 14, 2006
Scott Olson
A commercial corridor brimming with office buildings, similar to the one along U.S. 31 in Carmel, is what Noblesville city planners envision for the 146th Street extension from State Road 37 to Interstate 69. Ground is expected to be broken this fall on the four-mile extension, which will make the street a major east-west thoroughfare through the south side of Noblesville if finished as planned in October 2007. The street is already a busy route across much of Hamilton County,...
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IU to seek $80M from state for massive life sciences pushRestricted Content

August 14, 2006
Tom Murphy
Indiana University leaders believe their researchers can spawn 100 new companies, pump $2.4 billion into the state's economy, help create 14,000 jobs, and generate a $2.25 return for every dollar spends if the General Assembly will invest in their bold life sciences strategy.
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New Sports Corp. boss adjusting game planRestricted Content

August 14, 2006
Anthony Schoettle
Tom King thinks its time to run the not-for-profit Indiana Sports Corp. with a for-profit mind-set, a change that could radically alter the organization credited with implementing the city's amateur sports strategy.
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Six sites named 'Shovel Ready': State program designed to speed permit process for fast-track developersRestricted Content

August 14, 2006
Scott Olson
State officials have added another arrow to their quiver of economic-development incentives meant to attract companies to Indiana. A new pilot program, known as Shovel Ready, certifies land that can be rapidly developed. The aim is to make the properties more attractive to companies by cutting the time it takes to navigate the permitting process. "The ability to expedite a company's development will make us more competitive than perhaps we have been in the past," said Chris Pfaff, director of...
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Bonds' shaky support threatens Crane biz park: Region attempts to build on base's stay of executionRestricted Content

August 7, 2006
Peter Schnitzler
During his first months in office, Gov. Mitch Daniels' top priority was engineering a stay of execution for the Crane Naval Surface Warfare Center, 90 miles southwest of Indianapolis. Losing its 5,200 employees and contractors would have been a devastating blow to the region. Daniels' lobbying effort in Washington, D.C., was so successful that the Association of Defense Communities last month recognized him as "2006 Public Official of the Year." But troubles with local financing for a new business park...
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Venture Center's Beck plans seed capital fund: Former Rose-Hulman Ventures prez returns to townRestricted Content

July 31, 2006
Peter Schnitzler
Over the last three years at the helm of Indiana Venture Center Inc., one thing became all too clear to Steve Beck: Not much money is available locally for early-stage companies. So he's going to raise some himself. Last week, Beck, 59, announced he's stepping down as Indiana Venture Center president to become co-managing director of IVC Equity Partners, a new local seed capital fund. His IVC Equity cofounder is Scott Prince, 38, a Columbus native and Indiana University graduate...
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Ethanol backer harvesting investors: Cardinal, others see biofuel potential, while skeptics see risk 982 1372 1071 1392IBJ's Life Sciences & Biotech Magazine looks at the future of biofuel production in Indiana. SECTIONBRestricted Content

July 31, 2006
Chris O\'malley
IBJ's Life Sciences & Biotech Magazine looks at the future of biofuel production in Indiana. SECTIONBDuring one day this month, Randolph County farmer Troy Prescott drove hundreds of miles to visit three western Ohio towns-gladhanding potential backers gathered at a VFW hall, an armory and a restaurant. And just a few days ago, in Fishers, he spelled out his vision to more than 50 people, some wearing suspenders and down-on-the-farm twangs. Prescott isn't running for Congress, but his 25-city road...
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Indy Partnership helps spur job growth above Midwestern normRestricted Content

July 24, 2006
Peter Schnitzler
For the last half-decade, Indianapolis has shown greater job gains than any other large city in the Midwest. During the same period, the Indy Partnership has been responsible for the area's economic development.
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Bank boss eyes No. 1: New Fifth Third chief plans expansion, faces tough ChaseRestricted Content

July 10, 2006
Matthew Kish
The view from John Pelizzari's 14th-floor office in downtown's Capital Center is a good one. The recently hired president and CEO of Cincinnati-based Fifth Third Bancorp's central Indiana operations can see the rooftops of many of downtown's landmarks. And he likes it that way. He's used to the view from the top. From 2001 to 2005, Pelizzari, 50, captained the ship for Fifth Third's northern Michigan affiliate, which enjoyed a whopping 28-percent market share, more than 10 percentage points higher...
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Indiana Rail Road on track for customer growth: Acquisition of Canadian Pacific line brings more jobsRestricted Content

July 10, 2006
Chris O\'malley
What little some people see of active railroads these days is when they catch a glimpse of Indiana Rail Road Co.'s Ferrari-red engines pulling hopper cars from downstate coal mines up to Indianapolis Power & Light's Harding Street generating station, south of town. "People feel like railroads are a dying industry," said Thomas Hoback, founder and CEO of Indiana Rail Road, the 20-yearold freight concern based in Indianapolis. Looks can be as deceiving as the speed of a locomotive approaching...
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EYE ON THE PIE: Tattoos aren't only things we hideRestricted Content

July 3, 2006
Morton Marcus
I admit I don't understand the world in which I live. For example, a study in the Journal of the American Academy of Dermatology reports that 24 percent of Americans age 18 to 50 have one or more tattoos. That rises to 36 percent when we look at just those 18 to 29. I don't get it. Is this body art, a message to the world, a commitment to oneself or someone else? Tattoos do fill in all that empty...
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CHRIS KATTERJOHN Commentary: Reflections on DST, GovernmentiumRestricted Content

June 26, 2006
I love it. It makes summer even better than it already was. I don't believe, as a friend of mine recently suggested, that DST is a plot by Republican businessmen to play more golf in the summer. No, it was a sound economic development move, and I'm glad the Legislature wised up and made it happen. Big picture, it's good for business. Speaking of which, I haven't talked to a single businessperson who's seriously complaining about the time change. If...
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Aquaculture industry set to cast bigger net: Ag officials hope Indiana spawns more fish farmersRestricted Content

June 26, 2006
Scott Olson
Forrest Gump owned a shrimp boat. Tim and Julie Connor have a shrimp farm instead. The couple, who live on 22 acres near Monrovia, are in their third season raising prawn, or large shrimp, from a pond on their property. The $4,000 they earned last year from selling 350 pounds of the crustaceans to the public is hardly enough to cause Tim, 47, to retire from the job he's held at Allison Transmission for 28 years. But if the sideline...
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Car event 'astonishing': In 4th year, local show already one of nation's largestRestricted Content

June 19, 2006
Anthony Schoettle
Economic development leaders and corporate executives thought Roger Brummett was spinning his wheels when he launched a classic car show in Indianapolis four years ago. But Brummett and partner Tim Durham find themselves at the wheel of such a fastgrowing enterprise that they hope to expand it into a multiday event, with an auction and classic-car race, that they believe would draw 100,000 attendees. The pair also plans to replicate the show in other markets, starting in Naples, Fla., in...
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  1. How much you wanna bet, that 70% of the jobs created there (after construction) are minimum wage? And Harvey is correct, the vast majority of residents in this project will drive to their jobs, and to think otherwise, is like Harvey says, a pipe dream. Someone working at a restaurant or retail store will not be able to afford living there. What ever happened to people who wanted to build buildings, paying for it themselves? Not a fan of these tax deals.

  2. Uh, no GeorgeP. The project is supposed to bring on 1,000 jobs and those people along with the people that will be living in the new residential will be driving to their jobs. The walkable stuff is a pipe dream. Besides, walkable is defined as having all daily necessities within 1/2 mile. That's not the case here. Never will be.

  3. Brad is on to something there. The merger of the Formula E and IndyCar Series would give IndyCar access to International markets and Formula E access the Indianapolis 500, not to mention some other events in the USA. Maybe after 2016 but before the new Dallara is rolled out for 2018. This give IndyCar two more seasons to run the DW12 and Formula E to get charged up, pun intended. Then shock the racing world, pun intended, but making the 101st Indianapolis 500 a stellar, groundbreaking event: The first all-electric Indy 500, and use that platform to promote the future of the sport.

  4. No, HarveyF, the exact opposite. Greater density and closeness to retail and everyday necessities reduces traffic. When one has to drive miles for necessities, all those cars are on the roads for many miles. When reasonable density is built, low rise in this case, in the middle of a thriving retail area, one has to drive far less, actually reducing the number of cars on the road.

  5. The Indy Star announced today the appointment of a new Beverage Reporter! So instead of insightful reports on Indy pro sports and Indiana college teams, you now get to read stories about the 432nd new brewery open or some obscure Hoosier winery winning a county fair blue ribbon. Yep, that's the coverage we Star readers crave. Not.

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