Regional News

Profit, revenue up for Cummins in latest quarter

July 28, 2014
 IBJ Staff
Cummins Inc. said Monday that second-quarter profit jumped 7.7 percent on strong sales in North America. The results exceeded analyst expectations.
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Indiana Limestone Co. digs out of deep holeRestricted Content

July 26, 2014
Anthony Schoettle
In February, Indiana Limestone Co. filed for bankruptcy. But two months later, Chicago-based Wynnchurch Capital Ltd. bought the quarry company out of bankruptcy. ILC is now digging out and looking at a brighter horizon.
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Carmel budget hawks want harder line on deals with developersRestricted Content

July 26, 2014
Andrea Muirragui Davis
The Carmel Redevelopment Commission’s 2014 revenue is estimated to exceed expenses by less than $100,000—a narrow margin for an agency with annual debt payments totaling $17.5 million. By 2037, debt could outpace tax proceeds by a total of $43 million, according to projections released this month by a consultant.
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Blood tests for DWI cases costing Hancock County

July 23, 2014
Associated Press
In drunken-driving cases, the same tests prosecutors say have become necessary to successfully convict are also draining an important county budget.
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Developer seeks $11.5M subsidy for Carmel project

July 21, 2014
Andrea Muirragui Davis
Edward Rose Development Group is asking the city to issue tax-increment financing bonds to help pay for a parking garage and infrastructure in an $80 million project it's planning.
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Hospitals' occupancy declining over long termRestricted Content

July 19, 2014
J.K. Wall
Advances in non-invasive surgeries, changes in health care financing and now increasingly price-sensitive patients accelerate what has been a 40-year decline in the number of patients spending the night in hospitals.
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Spec distribution center fully leased in AnsonRestricted Content

July 19, 2014
 IBJ Staff
A joint venture between developers Browning Investments Inc. and Duke Realty Corp. announced July 15 that Chattanoogo Tenn.-based Kenco, a third-party logistics provider, has taken the remaining 257,000 square feet.
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Clock ticks on Wigwam's fate

July 18, 2014
Associated Press
Anderson officials say the city will take ownership of the iconic gym, but only if it has a binding agreement by Sept. 2 with a group to reopen the Wigwam.
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Report: Carmel panel may face TIF shortfall but can pay debts

July 17, 2014
Andrea Muirragui Davis
New financial projections suggest the Carmel Redevelopment Commission will have enough annual revenue to pay its debts for the next 15 years before dipping into reserves. But property taxes from the city’s two-dozen TIF districts could fall more than $1 million short as soon as next year.
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Indy home sales likely slowing to 'new normal'

July 16, 2014
 IBJ Staff
Home-sale agreements tumbled 14.9 percent in the nine-county Indianapolis area in June, the tenth straight month deals have decreased, according to F.C. Tucker Co.
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GM planning $27M investment in Bedford plant

July 16, 2014
Associated Press
The automaker filed a tax abatement request for the Bedford factory project, saying it would add about 40 jobs and raise the plant's employment to some 650 workers.
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Tower maker gets OK for factory, plans to hire 600

July 16, 2014
Associated Press
Nello Corp., a South Bend firm that manufactures steel towers, plans to sink about $60 million into the project.
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Sallie Mae spinoff Navient tries not to shrinkRestricted Content

July 12, 2014
J.K. Wall
Navient Corp., which employs 2,300 in its Fishers, Indianapolis and Muncie offices, is in the running for a big contract with the U.S. Department of Education even as the student-loan-servicing company faces criticism after admitting it overcharged military service members by millions of dollars.
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Northern suburbs see blitz of apartment construction

July 12, 2014
Andrea Muirragui Davis
Growing demand for high-end, low-maintenance living is fueling an apartment-building boom in Indianapolis’ northern suburbs—and raising concerns among some leaders about the risks of adding too much too fast.
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UPDATE: Hoosier roots keep Jarden Home HQ in Indiana

July 9, 2014
Andrea Muirragui Davis
Jarden Home Brands considered out-of-state sites for a new distribution center to serve its growing consumer-products business, but leaders opted to stay close to home. The Daleville-based company plans to move its headquarters to Fishers.
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Jarden Corp. unit plans HQ in Fishers

July 9, 2014
Andrea Muirragui Davis
A subsidiary of the consumer products giant behind Ball jars, Yankee Candles, Crock-Pots and Coleman tents plans to spend nearly $22 million to open a regional headquarters and distribution center in Fishers that could employ nearly 300.
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Group backs out of deal for Anderson's Wigwam

July 9, 2014
Associated Press
Officials say a private group has decided not to take over Anderson's closed Wigwam gymnasium, leaving the fate of the 9,000-seat venue uncertain.
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Greensburg factory to invest $28M, add 250 workers

July 8, 2014
 Associated Press and IBJ Staff
Workers will be hired as global firm Valeo buys new equipment for its 400,000-square-foot engine cooling factory to start new product lines for Honda, Nissan, Chrysler and Ford.
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Hoosier Environmental Council opposes dam on White River

July 8, 2014
Associated Press
The Hoosier Environmental Council has added its name to the list of environmental groups opposing a proposed seven-mile long reservoir along the White River in central Indiana.
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Transfer of Anderson gym awaits additional approval

July 7, 2014
Associated Press
The Anderson City Council will have to approve the city's involvement in the transfer of the closed 9,000-seat Wigwam gymnasium to a private group planning to reopen it.
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Medical device maker to hire 112 in Plainfield

July 1, 2014
Mason King
Global firm Covidien LP plans to consolidate U.S. operations for servicing its medical devices in central Indiana, renovating its existing 70,000-square-foot facility in the process.
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Golf-soccer hybrid tees off at five Indiana courses

June 28, 2014
Andrea Muirragui Davis
Burned by the economic meltdown and the scorching summer of 2012, five Indiana golf courses are rolling out a new game this year in hopes of bringing a little more green to their greens.
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Muncie launches 'quiet zone' push to benefit hotel

June 26, 2014
Associated Press
Muncie's push would benefit a $40 million Courtyard by Marriott hotel slated for a groundbreaking later this year and set to open in fall 2015 just north of CSX Transportation and Norfolk Southern tracks.
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Investors in church-related fraud to get most of their money

June 24, 2014
Associated Press
Investors will get 70 cents for every dollar they invested in an $85 million Ponzi scheme operated by a fundraising branch of the Church of God.
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Feds raise several issues about proposed reservoir

June 24, 2014
Associated Press
Two federal agencies are raising questions about a proposed $400 million Mounds Lake Reservoir, including the plan's failure to address alternatives to damming the White River.
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  1. So much for Eric Holder's conversation about race. If white people have got something to say, they get sued over it. Bottom line: white people have un-freer speech than others as a consequence of the misnamed "Civil rights laws."

  2. I agree, having seen three shows, that I was less than wowed. Disappointing!!

  3. Start drilling, start fracking, and start using our own energy. Other states have enriched their citizens and nearly elminated unemployment by using these resources that are on private land. If you are against the 'low prices' of discount stores, the best way to allow shoppers more choice is to empower them with better earnings. NOT through manipulated gov mandated min wage hikes, but better jobs and higher competitive pay. This would be direct result of using our own energy resources, yet Obama knows that Americans who arent dependent of gov welfare are much less likely to vote Dem, so he looks for ways to ensure America's decline and keep its citizens dependent of gov.

  4. Say It Loud, I'm Black and Ashamed: It's too bad that with certain "black" entertainment events, it seems violence and thuggery follows and the collateral damage that it leaves behinds continues to be a strain on the city in terms of people getting hurt, killed or becoming victims of crimes and/or stretching city resources. I remember shopping in the Meadows area years ago until violence and crime ended make most of the business pack you and leave as did with Lafayette Square and Washington Square. Over the past 10 to 12 years, I remember going to the Indiana Black Expo Soul Picnic in Washington Park. Violence, gang fights and homicides ended that. My great grandmother still bears the scares on her leg from when she was trampled by a group of thugs running from gun fire from a rival gang. With hundreds of police offices downtown still multiple shootings, people getting shot downtown during Black Expo. A number of people getting shots or murdered at black clubs around the city like Club Six on the west side, The Industry downtown, Jamal Tinsley's shot out in front of the Conrad, multiple fights and shootings at the skating rinks, shootings at Circle Center Mall and shooting and robberies and car jackings at Lafayette Mall. Shootings and gang violence and the State Fair. I can go on and on and on. Now Broad Ripple. (Shaking head side to side) Say It Loud, I'm Black and I'm Ashamed.

  5. Ballard Administration. Too funny. This is the least fiscally responsive administration I have ever seen. One thing this article failed to mention, is that the Hoosier State line delivers rail cars to the Amtrak Beech Grove maintenance facility for refurbishment. That's an economic development issue. And the jobs there are high-paying. That alone is worth the City's investment.

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