Regional News

Budget would take slice out of growing horse industry

February 19, 2011
Francesca Jarosz
A move by budget-makers to tap the kitty that feeds the state’s horse-racing industry could deal a blow to the business just as Indiana is starting to gain ground on its neighbors.
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Just Marketing International expands in Daytona, Charlotte

February 19, 2011
 IBJ Staff
The local motorsports marketing firm employs about 90 in its Zionsville office.
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Reform, revenue behind Franciscan expansion

February 16, 2011
J.K. Wall
Changes unleashed by health reform are pushing Franciscan St. Francis Health’s expansion into Hamilton County—in addition to the obvious pull of the area’s well-heeled population.
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St. Francis plans $23 million Carmel hospital

February 14, 2011
 IBJ Staff
Franciscan St. Francis Health plans to open a short-stay medical center in Carmel, creating 76 jobs by 2015, the health system announced Monday morning.
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Hancock County utilities take on new name

February 12, 2011
 IBJ Staff
The merged Hancock Telecom and Central Indiana Power have become NineStar Connect.
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Fundex settles trademark suit with game inventor

February 12, 2011
 IBJ Staff
Fundex Games Ltd. has given up its rights to the game Chronology to settle a suit brought last March by local inventor Jane Ruemmele.
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Marketing entrepreneur's career takes healthy turnRestricted Content

February 12, 2011
Gabrielle Poshadlo
A rejuvenating massage and facial were the inspiration for Jennifer Rubenstein to found Simply Well LLC, a marketing business that launched the Simply Well Book in September. The book features offers from 46 locally owned salons, organic markets, yoga studios and similar businesses.
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Water damage closes Carmel art gallery

February 11, 2011
Kathleen McLaughlin
The Evan Lurie Gallery in Carmel is recovering from water damage that will leave it closed for at least another week.
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Census: Home vacancies follow job losses in Indiana

February 10, 2011
Associated Press
North-central and east-central Indiana, which absorbed the brunt of the job losses, also showed the highest percentage of unoccupied homes.
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Defense contractor Gryphon plans Bloomington expansion

February 9, 2011
 IBJ Staff
Maryland-based  defense contractor Gryphon Technologies plans to expand its operations in Bloomington, creating as many as 60 jobs by 2013.
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n/Frame investing $2 million in disaster-recovery center

February 8, 2011
Carmel-based company is building the 15,000-square-foot facility at its headquarters to consolidate operations. The new center should be ready by May.
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Several new restaurants opening in Indianapolis

February 5, 2011
 IBJ Staff
The new dining spots include a few home-grown businesses that are opening in or near Broad Ripple.
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Endocyte again changes terms of public offering

February 4, 2011
 IBJ Staff and Bloomberg News
The West Lafayette-based biopharmaceutical company now is planning to offer at least 12.5 million shares, or 17 percent more than previously announced, but at a lower price of $6 each.
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MORRIS: Palladium spotlights a Carmel all can be proud of

January 29, 2011
Greg Morris
As the debut of the Palladium in Carmel has taken center stage, I have been reflecting on the amazing ascent of what used to be a sleepy town.
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Pearson Ford buys wholesale car-parts business

January 29, 2011
 IBJ Staff
Owner John Pearson recently purchased the parts business of Paul Harvey Ford, which is ceasing operations after more than 44 years.
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King Systems' two top execs exit company

January 28, 2011
Scott Olson
An executive at the Noblesville firm's parent company said the departures of CEO Don Dumoulin and Chief Financial Officer Yun Kim were the result of a "mutual agreement." A search is under way for replacements to lead one of the area's largest medical device manufacturers.
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Westfield sports complex scores deal with youth baseball group

January 28, 2011
Francesca Jarosz
City officials hope landing the Lids Indiana Bulls as a tenant at the planned Grand Park Sports Campus will help drive thousands of visitors to the 300-acre site—and nearby businesses.
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Local Tea Party group takes aim at Carmel mayor

January 27, 2011
Francesca Jarosz
A new Carmel-based Tea Party group, the Constitutional Patriots, has set its sights on Carmel Mayor Jim Brainard, taking issue with his spending on projects like the $170 million Center for the Performing Arts.
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Cat Logistics to lay off 84 in Greenfield

January 26, 2011
 IBJ Staff
Caterpillar Logistics Inc. plans to permanently lay off 84 employees from a facility in Greenfield, where it handles distribution services for Irwin Industrial Tools.
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Life sciences to drive Purdue's next decade of building

January 26, 2011
J.K. Wall
Over the past 10 years, Purdue University has built Discovery Park into a thriving research and business incubation center, launching more than 30 companies and hosting dozens more. Now Purdue will spend more than $164 million to construct a Life and Health Sciences Quadrangle next to Discovery Park.
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Cummins sells exhaust business to Global Tube

January 25, 2011
Associated Press
Cummins Inc. will sell its exhaust business, which includes several plants in Wisconsin, to Global Tube, a portfolio company of the Chicago-based private equity firm Wind Point Partners.
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DINING: Come, sit, eat with Donatello's Italian family

January 22, 2011
-Andrea Davis
Located just west of Range Line Road in Carmel’s Art & Design District, Donatello’s Italian Restaurant is a true family affair.
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'World-class' sports complex on deck for Anderson

January 18, 2011
Andrea Muirragui Davis
Private investors are planning to develop a $6 million baseball and softball complex on about 70 acres off Interstate 69 in Anderson, officials are set to announce Tuesday afternoon.
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Senator tries to fix Greenwood merger problems

January 18, 2011
Kathleen McLaughlin
State Sen. Brent Waltz hopes new legislation on local government mergers will mend fences in his home of Johnson County while saving other Indiana communities a series of headaches.
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Lender tries to sell note for Legacy at big loss

January 15, 2011
Cory Schouten
The lead bank on the massive Legacy development along 146th Street in Carmel has put the note up for sale with an asking price of about $15 million—less than half what lenders have sunk into the project.
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  1. Apologies for the wall of text. I promise I had this nicely formatted in paragraphs in Notepad before pasting here.

  2. I believe that is incorrect Sir, the people's tax-dollars are NOT paying for the companies investment. Without the tax-break the company would be paying an ADDITIONAL $11.1 million in taxes ON TOP of their $22.5 Million investment (Building + IT), for a total of $33.6M or a 50% tax rate. Also, the article does not specify what the total taxes were BEFORE the break. Usually such a corporate tax-break is a 'discount' not a 100% wavier of tax obligations. For sake of example lets say the original taxes added up to $30M over 10 years. $12.5M, New Building $10.0M, IT infrastructure $30.0M, Total Taxes (Example Number) == $52.5M ININ's Cost - $1.8M /10 years, Tax Break (Building) - $0.75M /10 years, Tax Break (IT Infrastructure) - $8.6M /2 years, Tax Breaks (against Hiring Commitment: 430 new jobs /2 years) == 11.5M Possible tax breaks. ININ TOTAL COST: $41M Even if you assume a 100% break, change the '30.0M' to '11.5M' and you can see the Company will be paying a minimum of $22.5, out-of-pocket for their capital-investment - NOT the tax-payers. Also note, much of this money is being spent locally in Indiana and it is creating 430 jobs in your city. I admit I'm a little unclear which tax-breaks are allocated to exactly which expenses. Clearly this is all oversimplified but I think we have both made our points! :) Sorry for the long post.

  3. Clearly, there is a lack of a basic understanding of economics. It is not up to the company to decide what to pay its workers. If companies were able to decide how much to pay their workers then why wouldn't they pay everyone minimum wage? Why choose to pay $10 or $14 when they could pay $7? The answer is that companies DO NOT decide how much to pay workers. It is the market that dictates what a worker is worth and how much they should get paid. If Lowe's chooses to pay a call center worker $7 an hour it will not be able to hire anyone for the job, because all those people will work for someone else paying the market rate of $10-$14 an hour. This forces Lowes to pay its workers that much. Not because it wants to pay them that much out of the goodness of their heart, but because it has to pay them that much in order to stay competitive and attract good workers.

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  5. It is sad to see these races not have a full attendance. The Indy Car races are so much more exciting than Nascar. It seems to me the commenters here are still a little upset with Tony George from a move he made 20 years ago. It was his decision to make, not yours. He lost his position over it. But I believe the problem in all pro sports is the escalating price of admission. In todays economy, people have to pay much more for food and gas. The average fan cannot attend many events anymore. It's gotten priced out of most peoples budgets.

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