Government & Economic Development

Mortgage firm plans local expansion, 140 jobs

August 30, 2011
 IBJ Staff
Royal United Mortgage LLC, an Indianapolis-based mortgage firm, announced plans Tuesday to expand its local operations, adding up to 140 employees by 2013.
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Air tool manufacturer plans Indiana expansion

August 30, 2011
 IBJ Staff and Associated Press
Sullair Corp., which makes air compressors and other air tools, says it will expand its headquarters in northern Indiana and expects to add up to 113 jobs in the next few years.
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Lauth's Eaglepoint fattens up on racing teams

August 30, 2011
Scott Olson
David Powers Motorsports, John Force Racing, Don Prudhomme Racing and Vance & Hines together occupy roughly 320,000 square feet of space at the park.
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Experts say options abound for former GM stamping plantRestricted Content

August 27, 2011
Cory Schouten
The 2-million-square-foot GM Indianapolis Metal Center, closed this year, sprawls over more than 100 acres on the west bank of the White River and enjoys some of the best views of the downtown skyline.
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First step: Tear stamping plant downRestricted Content

August 27, 2011
Jeff Gearhart / Special to IBJ
Tear it down and clean it up was the message delivered by a former redevelopment director from South Bend as she spoke to representatives from cities who were about to lose their GM plants.
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This year's metro area job losses deeper than in peer citiesRestricted Content

August 27, 2011
J.K. Wall
As the national economy sputters, the Indianapolis area is losing jobs faster than its peers, falling to levels not seen since 2002.
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GM site ripe for manufacturing or a judicial centerRestricted Content

August 27, 2011
Chris Barnett / Special to IBJ
The Urban Land Institute panel’s plan for the General Motors plant site ignores some realities in favor of presenting a relatively predictable New Urbanism redevelopment plan.
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'Expand the smorgasbord' at former GM siteRestricted Content

August 27, 2011
Gordon Hendry / Special to IBJ
Indianapolis has a rich history of turning challenging redevelopment projects into local success stories, and I have no doubt the GM Stamping Plant will become part of that history as officials determine the best uses for the expansive site near downtown.
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Indiana officials settle voter registration lawsuit

August 26, 2011
Associated Press
Indiana officials have settled a class-action lawsuit that claimed the state wasn't following federal laws over the opportunity for voter registration at public assistance offices.
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Indianapolis, Beech Grove settle utility billing feud

August 26, 2011
Indianapolis and Beech Grove wrapped up their decade-old dispute prior to the city's official transfer of its water and wastewater utilities to Citizens Energy Group.
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City plans to install solar panels at public works buildings

August 25, 2011
Francesca Jarosz
The city has put out a request seeking companies or teams of firms qualified to install solar photovoltaic systems at three of its public works buildings and garages.
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Fire heavily damages Aristocrat restaurant

August 25, 2011
The restaurant at 5212 N. College Ave. sustained $1.5 million in damage. Firefighters were called to the two-story, 6,000-square-foot building early Thursday morning.
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State launches program to help employ ex-offenders

August 24, 2011
Francesca Jarosz
The state is launching an initiative aimed at helping ex-offenders find jobs, particularly with large businesses that tend to have the most trepidation about hiring them.
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More Indiana welfare requests being submitted online

August 23, 2011
Associated Press
More than half of the state's new applications for food stamps and other welfare assistance are being submitted online, Indiana social services chief Michael Gargano told lawmakers Tuesday.
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Illinois facing jobs assault from other states

August 23, 2011
Associated Press
Indiana is leading a push by other states to chip away at Illinois' vulnerable economic image and lure jobs away.
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Indiana property tax caps slice 2011 bills

August 23, 2011
Associated Press
Indiana property taxpayers saw their savings grow by 32 percent this year compared to a year ago thanks to statewide tax caps on their 2011 bills, according to a state report.
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llinois manufacturer plans move to northwest Indiana

August 23, 2011
Associated Press
Illinois manufacturer Modern Forge says it will open a factory in northwestern Indiana, where it expects to hire as many as 240 workers in the next few years.
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Judge orders Indiana to preserve fair stage wreckage

August 23, 2011
Associated Press
A judge says he will issue a temporary restraining order prohibiting the state from destroying any evidence from the deadly collapse of an Indiana State Fair stage.
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City to seek more parking for Rolls-Royce's move

August 23, 2011
Francesca Jarosz
The Capital Improvement Board will be charged with helping Rolls-Royce Corp. find up to an additional 500 parking spaces to accommodate the company’s move to a downtown office campus formerly occupied by Eli Lilly and Co.
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Broad Ripple group doubles down in fight over Kilroy's

August 23, 2011
Cory Schouten
Members of the Broad Ripple Village Association are vowing to continue their fight against a new Kilroy's Bar n' Grill after they were denied a chance to speak out about the plan at a public hearing.
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Court rules state overreached when it shut puppy mill

August 23, 2011
Associated Press
The state had seized and sold 240 dogs at business, citing $142,000 in unpaid taxes.
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Library plans to restore hours at some branches

August 22, 2011
Francesca Jarosz
The financial picture for Indianapolis’ struggling public library system is expected to improve enough for leaders to consider restoring operating hours at 10 of its 23 locations next year.
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Racinos ask federal court to lower their tax liabilityRestricted Content

August 20, 2011
Francesca Jarosz
If Indiana Live and Hoosier Park prevail, the racetrack-casinos may cut they could cut their combined tax bill by $30 million a year.
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Public safety official Mayes leaves postRestricted Content

August 20, 2011
 IBJ Staff
Jonathan Mayes, an attorney who served just over a year as deputy public safety director under Frank Straub, has joined Bose McKinney & Evans' Labor and Employment Practice Group.
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Education battle unleashed torrents of money in IndianaRestricted Content

August 20, 2011
J.K. Wall
Education reformers dramatically outspent opponents on lobbying, advertising and grass-roots campaigning during the past legislative session.
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  1. Cramer agrees...says don't buy it and sell it if you own it! Their "pay to play" cost is this issue. As long as they charge customers, they never will attain the critical mass needed to be a successful on company...Jim Cramer quote.

  2. My responses to some of the comments would include the following: 1. Our offer which included the forgiveness of debt (this is an immediate forgiveness and is not "spread over many years")represents debt that due to a reduction of interest rates in the economy arguably represents consideration together with the cash component of our offer that exceeds the $2.1 million apparently offered by another party. 2. The previous $2.1 million cash offer that was turned down by the CRC would have netted the CRC substantially less than $2.1 million. As a result even in hindsight the CRC was wise in turning down that offer. 3. With regard to "concerned Carmelite's" discussion of the previous financing Pedcor gave up $16.5 million in City debt in addition to the conveyance of the garage (appraised at $13 million)in exchange for the $22.5 million cash and debt obligations. The local media never discussed the $16.5 million in debt that we gave up which would show that we gave $29.5 million in value for the $23.5 million. 4.Pedcor would have been much happier if Brian was still operating his Deli and only made this offer as we believe that we can redevelop the building into something that will be better for the City and City Center where both Pedcor the citizens of Carmel have a large investment. Bruce Cordingley, President, Pedcor

  3. I've been looking for news on Corner Bakery, too, but there doesn't seem to be any info out there. I prefer them over Panera and Paradise so can't wait to see where they'll be!

  4. WGN actually is two channels: 1. WGN Chicago, seen only in Chicago (and parts of Canada) - this station is one of the flagship CW affiliates. 2. WGN America - a nationwide cable channel that doesn't carry any CW programming, and doesn't have local affiliates. (In addition, as WGN is owned by Tribune, just like WTTV, WTTK, and WXIN, I can't imagine they would do anything to help WISH.) In Indianapolis, CW programming is already seen on WTTV 4 and WTTK 29, and when CBS takes over those stations' main channels, the CW will move to a sub channel, such as 4.2 or 4.3 and 29.2 or 29.3. TBS is only a cable channel these days and does not affiliate with local stations. WISH could move the MyNetwork affiliation from WNDY 23 to WISH 8, but I am beginning to think they may prefer to put together their own lineup of syndicated programming instead. While much of it would be "reruns" from broadcast or cable, that's pretty much what the MyNetwork does these days anyway. So since WISH has the choice, they may want to customize their lineup by choosing programs that they feel will garner better ratings in this market.

  5. The Pedcor debt is from the CRC paying ~$23M for the Pedcor's parking garage at City Center that is apprased at $13M. Why did we pay over the top money for a private businesses parking? What did we get out of it? Pedcor got free parking for their apartment and business tenants. Pedcor now gets another building for free that taxpayers have ~$3M tied up in. This is NOT a win win for taxpayers. It is just a win for Pedcor who contributes heavily to the Friends of Jim Brainard. The campaign reports are on the Hamilton County website. http://www2.hamiltoncounty.in.gov/publicdocs/Campaign%20Finance%20Images/defaultfiles.asp?ARG1=Campaign Finance Images&ARG2=/Brainard, Jim

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