Economic Development

Ex-Japanese biz exec to lead state's Asian strategy

November 7, 2013
Associated Press
Rick Pease was hired by the state after a 30-year career at Columbus-based Enkei America, the North American division of a global automotive supplier.
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T2 Systems loses tax break over technicality

November 7, 2013
Dan Human
The software developer moved across town to a new address in 2012, which nullified its agreement with the city—although it's still on track to meet its goals for new investment and hiring.
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IBJ rolls out politics website

November 6, 2013
Staff Report
The central Indiana business news authority has elevated the idea behind its popular Forefront section and created a website similarly focused on commentary about politics, policy and government.
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Startup bakery seeking tax breaks on $78M project

November 4, 2013
 IBJ Staff
Dallas-based Specialty Bakery LLC plans to build a 226,778-square-foot production and distribution facility in southwest Indianapolis that would create 241 jobs by 2018.
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Purdue makes big push into state's pharma industry

November 2, 2013
J.K. Wall
With a $60 million-plus investment, the university aims to take molecules from discovery to clinical trials.
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Redevelopment commission for Carmel in turmoilRestricted Content

November 2, 2013
Andrea Muirragui Davis
The city's big-spending redevelopment commission, which helped fund some of Carmel's most ambitious projects, now is facing a tight budget, a staff exodus and brow-raising audit.
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Review recommends stronger oversight of state contractor

November 1, 2013
 IBJ Staff and Associated Press
An independent review of Elevate Ventures found the state contractor needs more oversight even though it is "substantially compliant with its investment and operational requirements,” Indiana Gov. Mike Pence's office said Friday.
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Reagan's supply-side guru to address accountants in Indy

November 1, 2013
Chris O'Malley
Arthur Laffer is reviled by the big-government crowd for blaming high tax rates for slow economic growth. He'll discuss his cautionary tale for states while in Indianapolis next week.
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Strategist: Get ready for steady economic growth

October 30, 2013
Norm Heikens
Forecast 2014 Watch
                           video iconBusinesses will begin using their profits and horded cash to reinvest in themselves in 2014, helping push economic growth back to a more comfortable 2.5 percent, according to John Augustine, chief market strategist for Fifth Third Bank.
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Illinois manufacturer to move headquarters to Indiana

October 23, 2013
Tec Air Inc. plans to transfer its current workforce of about 150 employees to its new headquarters and hire about 100 more by 2016.
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Indiana working poor highlighted in pair of studies

October 20, 2013
Associated Press
The Kaiser Family Foundation found that 182,000 residents fall into a health insurance coverage GAP, and a jobs study found almost half of Indiana's fast food workers are also receiving public assistance.
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Indy pitches in to continue Amtrak line to Chicago

October 16, 2013
Kathleen McLaughlin, Associated Press
Communities on Amtrak's Hoosier State line from Indianapolis to Chicago will help continue the service for at least a year.
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Three cities seek grant to boost manufacturing

October 16, 2013
Associated Press
Three central Indiana cities that once had thousands of auto workers have joined together in seeking a $20 million federal grant to help attract new businesses to their empty factories.
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Firm plans $16 million revival of Kokomo plant

October 15, 2013
 IBJ Staff
A maker of porcelain products plans to invest $16 million to purchase, renovate and equip a vacant pottery production plant in Kokomo and create as many as 140 jobs by 2014.
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Pacers land IEDC as court sponsorRestricted Content

October 12, 2013
Anthony Schoettle
The Indiana Pacers have brokered a deal with an unusual sponsor—the Indiana Economic Development Corp.—to become the first of 30 National Basketball Association teams to sell courtside ads emblazoned on the hardwood.
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Auto parts maker shifting work from Michigan to Indiana

October 9, 2013
Associated Press
Quebec-based Exo-s US says it will spend nearly $7 million on the factory in the LaGrange County town of Howe. It expects to open the factory next year and hire up to 250 workers by 2016.
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Two manufacturers target Indiana city for expansion

October 8, 2013
 IBJ Staff
The Indiana Economic Development Corp. announced two economic development deals Tuesday morning that will bring more than 200 jobs to Whitley County in northern Indiana.
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End of major state highway project could mark start of growth

October 7, 2013
Associated Press
The almost-completed $383 million State Road 25 Hoosier Heartland Highway Corridor project is expected to create economic development opportunities from West Lafayette to Fort Wayne.
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UPDATE: Cabinet company to hire 309 in Connersville

October 4, 2013
Associated Press
A cabinet company announced Friday that it will hire more than 300 people over five years at a vacant former auto parts plant in eastern Indiana.
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Pallet manufacturer plans 115 jobs in Indiana

October 1, 2013
Associated Press
Indiana-based manufacturer Calumet Pallet Co. plans to expand by spending $2.7 million to buy and equip a new facility in northern Indiana.
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Auction lands $2.1 million for Elona Biotech assets

September 27, 2013
 IBJ Staff
Elona went into receivership in June after Greenwood officials filed a foreclosure lawsuit against the firm. The company failed after receiving more than $8 million in economic development incentives from the city over the past three years.
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Insurance broker growth part of Fort Wayne project

September 23, 2013
Associated Press
An insurance brokerage will relocate its Fort Wayne headquarters to a new $71 million downtown mixed-use project and create 115 jobs by 2017, Mayor Tom Henry said Monday.
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Dallara sees Indy operations as springboard for U.S. expansionRestricted Content

September 21, 2013
Anthony Schoettle
Dallara is preparing to install a $5 million automobile simulator in its Speedway plant—a move that could fuel the company’s plan to dramatically grow its local operation.
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Fishers plans new development on train-station site

September 21, 2013
Andrea Muirragui Davis
Incentive deals are on the table to keep two high-potential businesses in Fishers, and the town is poised to pull the trigger on redevelopment of the Fishers Train Station property—where one of the firms could occupy third-floor office space.
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GE dropped planned investment in Bloomington factory

September 20, 2013
Associated Press
A GE Appliances spokeswoman says a $161 million investment announced three years ago was never made at a southern Indiana refrigerator factory where 160 jobs are now being cut.
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