Government & Economic Development

Indianapolis courts Chicago Mercantile Exchange

December 2, 2011
 IBJ Staff and Associated Press
Indianapolis' mayor has met with top executives of the Chicago Mercantile Exchange to discuss bringing the 163-year-old financial market to Indiana's largest city. A move would mean hundreds of jobs for Indianapolis.
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Lugar: Obama failing on Brazil trade, cedes clout to China

December 2, 2011
Bloomberg News
The top Republican on the Senate Foreign Relations Committee said President Barack Obama is missing opportunities to strike closer ties with Brazil, allowing China to steal market share from U.S. companies in Latin America’s biggest economy.
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Indiana lawmakers want cursive mandatory in schools

December 1, 2011
Associated Press
Terre Haute Sen. Tim Skinner and Oldenburg Sen. Jean Leising said they plan to submit bills when lawmakers return to Indianapolis in 2012 that would require the writing style be taught.
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Ex-aide running for Indiana seat Pence is giving up

December 1, 2011
Associated Press
Andrew Phipps, a former aide to Republican Rep. Mike Pence, is joining the field for the congressional seat that Pence is giving up to run for governor.
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Plowman receives 40-month federal sentence

December 1, 2011
Scott Olson
A federal judge on Thursday afternoon sentenced former City-County Councilor Lincoln Plowman to 40 months in prison for attempted extortion and bribery.
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Prosecutors recommend 6-1/2 years for Plowman

December 1, 2011
Scott Olson
The former City-County Councilor, convicted in September on federal bribery and attempted extortion charges, is scheduled to be sentenced Thursday afternoon.
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Food company closing in Indiana has unpaid bills

December 1, 2011
Associated Press
An organic food company that is closing its eastern Indiana preparation center was offered up to $3.5 million in state tax credits to open its plant, but it owes more than $31,000 in property taxes and sewer bills.
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GOP governors group names Daniels policy chairman

November 30, 2011
Associated Press
Daniels' policies have frequently been emulated by other Republican governors including Wisconsin' Scott Walker and Ohio's John Kasich.
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Indiana Republicans push drug tests for welfare money

November 30, 2011
Associated Press
Two Indiana Republicans want welfare recipients to pass drug tests before they can receive benefits but similar measures have run up against Fourth Amendment protections against unreasonable search and seizure.
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After hiking taxes, Illinois now considers easing them

November 30, 2011
Associated Press
Less than a year after raising personal and corporate income taxes, Illinois officials are pushing a $250 million package of tax breaks for several prominent businesses threatening to leave for more tax-friendly states, including Indiana.
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LEADING QUESTIONS: Council prez takes 11th-hour run at ban, redistricting

November 30, 2011
Mason King
LQ_Vaughn_watch VideoWhy is Ryan Vaughn ending his tenure as City-County Council president with two hot-button proposals? Can he get the votes for a stronger smoking ban? How does he react to a call for his removal?
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Bond banks in Indiana, other states boost sales

November 30, 2011
 IBJ Staff and Bloomberg News
State municipal-bond banks in Indiana, Vermont, Maine and New Hampshire plan to issue about $190 million in debt this week, as smaller communities seek to take advantage of 10-year interest rates near a six-week low.
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Commission slaps judge over fundraising solicitation

November 30, 2011
Michael W. Hoskins
Judge Rebekah Pierson-Treacy received the admonishment after an August fundraising solicitation sparked controversy.
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States suing over health care law collect funding

November 29, 2011
Associated Press
Federal officials announced Tuesday they are awarding more money to help states carry out President Barack Obama's health care overhaul. Seven states that are suing to overturn the landmark law are also on the list for funding.
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Indiana retailers making push for online sales tax

November 29, 2011
Associated Press
A new coalition of Indiana retailers is planning a lobbying push aimed at convincing state lawmakers to force online businesses to collect the state's 7-percent sales taxes from customers.
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Feds reject Indiana request for health care exemption

November 28, 2011
Associated Press
The U.S. Department of Health and Human Services on Monday rejected Indiana's bid for an exemption from federal health care overhaul rules that require insurers selling policies to individuals to essentially dedicate 80 percent of the premiums they collect to medical care.
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SEC accuses Positron CEO of misleading investors

November 28, 2011
Chris O'Malley
Regulators allege CEO Patrick G. Rooney diverted millions of dollars from a hedge fund into the struggling Fishers company without investors' knowledge.
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JONES: Patent reform is mixed bag for life sciences companiesRestricted Content

November 26, 2011
Kristin Jones / Special to IBJ
For Indiana's life sciences sector, the change both raises hopes and creates challenges for continued growth.
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Develop Indy and partner will focus on small business supportRestricted Content

November 26, 2011
 IBJ Staff
Business Ownership Initiative of Central Indiana focuses on one-on-one counseling, capital access.
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Judge allows class in suit against state tort law

November 23, 2011
Associated Press
U.S. District Judge Sarah Evans Barker has certified the victims of the Indiana State Fair stage collapse as a single class in a lawsuit challenging a law that caps the state's liability at $5 million. However, she concluded the plaintiffs are unlikely to win the challenge.
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Study: State loses millions annually in online sales taxes

November 22, 2011
Scott Olson
The report from the Indiana Fiscal Policy Institute says the state loses $40 million to $114 million every year in sales tax revenue from sales to online retailers such as Amazon.
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State unemployment rate inches up to 9 percent

November 22, 2011
 IBJ Staff
Indiana's jobless rate rose to 9 percent in October, up from 8.9 percent the previous month, marking the fifth straight month the state's unemployment rate has risen.
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Indiana Legislature set for new right-to-work fight

November 21, 2011
 IBJ Staff and Associated Press
Indiana House Speaker Brian Bosma says that passing a contentious right-to-work proposal will be his top priority during the coming legislative session.
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Indiana voucher memo confuses, concerns districts

November 20, 2011
Associated Press
A memo that sparked concern among Indiana's school districts by saying they would begin losing funding this month under the state's new private school voucher law was sent "prematurely" a state education official says.
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Mass Ave deal's brokerage fee raising eyebrowsRestricted Content

November 19, 2011
Cory Schouten
A real estate brokerage picked by the city to spearhead redevelopment of a prime Mass Ave parcel occupied by the Indianapolis Fire Department stands to collect a million-dollar-plus payday if it closes the deal.
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  1. I am not by any means judging whether this is a good or bad project. It's pretty simple, the developers are not showing a hardship or need for this economic incentive. It is a vacant field, the easiest for development, and the developer already has the money to invest $26 million for construction. If they can afford that, they can afford to pay property taxes just like the rest of the residents do. As well, an average of $15/hour is an absolute joke in terms of economic development. Get in high paying jobs and maybe there's a different story. But that's the problem with this ask, it is speculative and users are just not known.

  2. Shouldn't this be a museum

  3. I don't have a problem with higher taxes, since it is obvious that our city is not adequately funded. And Ballard doesn't want to admit it, but he has increased taxes indirectly by 1) selling assets and spending the money, 2) letting now private entities increase user fees which were previously capped, 3) by spending reserves, and 4) by heavy dependence on TIFs. At the end, these are all indirect tax increases since someone will eventually have to pay for them. It's mathematics. You put property tax caps ("tax cut"), but you don't cut expenditures (justifiably so), so you increase taxes indirectly.

  4. Marijuana is the safest natural drug grown. Addiction is never physical. Marijuana health benefits are far more reaching then synthesized drugs. Abbott, Lilly, and the thousands of others create poisons and label them as medication. There is no current manufactured drug on the market that does not pose immediate and long term threat to the human anatomy. Certainly the potency of marijuana has increased by hybrids and growing techniques. However, Alcohol has been proven to destroy more families, relationships, cause more deaths and injuries in addition to the damage done to the body. Many confrontations such as domestic violence and other crimes can be attributed to alcohol. The criminal activities and injustices that surround marijuana exists because it is illegal in much of the world. If legalized throughout the world you would see a dramatic decrease in such activities and a savings to many countries for legal prosecutions, incarceration etc in regards to marijuana. It indeed can create wealth for the government by collecting taxes, creating jobs, etc.... I personally do not partake. I do hope it is legalized throughout the world.

  5. Build the resevoir. If built this will provide jobs and a reason to visit Anderson. The city needs to do something to differentiate itself from other cities in the area. Kudos to people with vision that are backing this project.

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