Regional News

Crean's revival of IU basketball fuels donations, merchandise salesRestricted Content

February 23, 2013
Anthony Schoettle
Indiana University is looking to cash in on the success of its men's basketball team this season, but is struggling to find ways to make more money from an already popular program.
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Westfield golf pro to be inducted into PGA Hall of FameRestricted Content

February 23, 2013
Don "Chip" Essig IV was the 2011 recipient of the PGA Golf Professional of the Year award.
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First Internet plans 48 jobs in $4.3M Fishers office

February 19, 2013
Scott Olson
The $4.3 million expansion will go toward purchasing and refurbishing a building near Interstate 69 and 116th Street that formerly housed the St. Vincent Health medical center.
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Indiana town takes unusual step to gain control of utilityRestricted Content

February 16, 2013
Scott Olson
Mooresville’s bid to purchase water operations likely will be decided in court.
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Two neighboring utilities united by fiber in Hancock CountyRestricted Content

February 16, 2013
Chris O'Malley
Unusual merger of Hancock Telecom and Central Indiana Power is paving the way for network deployment in rural areas.
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Mass-transit measure passes key House hurdle

February 13, 2013
Kathleen McLaughlin
The House Ways and Means Committee cleared the bill, which would allow voters to decide whether to add 0.3 percent to local income tax rates to pay for a proposed central Indiana mass-transit system.
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Home-building permit filings continue to climb

February 12, 2013
Area home-building activity continues to improve as the number of single-family permits filed in January jumped 55 percent from the same period last year.
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Greensburg auto-parts plant plans expansion, 200-plus hires

February 12, 2013
 IBJ Staff
Automotive supplier Valeo expects to invest $15.5 million in new machinery for its Greensburg facility as part of its plans to expand operations in the plant and bring more than 200 workers onto the company payroll by 2014.
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I-69 leg gobbling up state's road fundingRestricted Content

February 9, 2013
Chris O'Malley
As legislators brace for a $250 million annual transportation spending gap down the road, the Indiana Department of Transportation has designated more than one-third of its entire federal highway aid this year toward building 27 miles of Interstate 69 between Crane and Bloomington.
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Wal-Mart revisits plan for Greenwood store

February 7, 2013
Associated Press
A retail giant that lost its bid to build a store in Greenwood nearly a decade ago is hoping local leaders look more favorably on a new proposal to erect a smaller store at the same site.
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Shuttle to Hamilton County job sites is tweakedRestricted Content

February 2, 2013
A reverse-commute shuttle that helps Indianapolis residents get to jobs in Carmel and Fishers is being expanded.
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Butler Automotive snaps up 96th Street parcel for dealership

January 29, 2013
Tom Harton
An affiliate of Butler Automotive Group bought more than 19 acres at the northwest corner of East 96th Street and Randall Drive in late December and is seeking permission from Carmel to build a structure that would house Butler Hyundai.
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Bales' trial could turn on definition of ownershipRestricted Content

January 26, 2013
Cory Schouten
The jury trial in South Bend for real estate developer John Bales and his general counsel, William E. Spencer, is scheduled to begin Jan. 28 and last up to two weeks. Bales and Spencer, both 45, are facing 13 counts, including wire and mail fraud.
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Airport neighbors team up on 'AeroVision'Restricted Content

January 26, 2013
Chris O'Malley
Mayor Greg Ballard is expected on Jan. 30 to lay out plans for a cross-county economic development area anchored by Indianapolis International Airport that promises to quell political divisions and clear the way for investment.
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Bill eases path for utilities to boost ratesRestricted Content

January 26, 2013
Chris O'Malley
An 11-page utility bill in the Indiana Senate that a consumer group likens to “a money grab” would hasten and expand a utility’s ability to recover additional costs from customers.
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New restaurants: Upland in Carmel, Lincoln Square downtownRestricted Content

January 26, 2013
 IBJ Staff
Old Carolina Barbecue also announces expansion to Indianapolis market.
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Indiana Beach owes $347,000 in taxes, county says

January 20, 2013
Associated Press
Indiana Beach Amusement Resort on Lake Shafer neglected to pay an estimated $180,000 in innkeeper's taxes and about $167,000 in 2011 property taxes, according to White County officials.
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Lifestyle mall triggers wave of development at Interstate 69 exitRestricted Content

January 19, 2013
Cory Schouten
Five years after the Hamilton Town Center lifestyle mall opened at a sleepy interchange on Interstate 69 in Noblesville, the neighborhood is one of the hottest growth markets in the state for retail, residential and medical development.
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Bill would give green light to live table games at racinosRestricted Content

January 19, 2013
Kathleen McLaughlin
A wide-ranging gambling bill designed to protect Indiana casinos from border-state competition would allow live table games at two central Indiana racinos.
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Trafalgar company bringing reflective technology to consumer marketRestricted Content

January 19, 2013
Chris O'Malley
Halo Coatings, founded in 2007, spent its early years licensing its proprietary reflective technology for powder-coating applications to companies involved in highway infrastructure, such as guardrails. But it's now shifting its focus to the big players in the apparel, medical and consumer-product fields.
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Retailer plans 250-worker Hendricks County warehouse

January 17, 2013
Gordmans, an apparel and home decor retailer, said it will spend $37.5 million to construct and equip a 545,000-square-foot distribution center in Clayton.
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Fishers auto supplier moving to Anderson

January 16, 2013
Keihin North America Inc. plans to relocate between 130 and 175 management, engineering and development jobs to the Flagship Enterprise Center.
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Foul odor spurs Oliver Winery hard-cider lawsuit

January 15, 2013
Scott Olson
The Bloomington-based winery claims in a federal lawsuit that it was forced to recall its hard apple cider due to defective cans provided by Ball Metal Beverage Container Corp.
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Subaru targets more growth at Indiana plant

January 15, 2013
 IBJ Staff and Bloomberg News
The maker of Subaru cars is targeting a 6-percent increase in global sales this year, spurred by the introduction of a new Forester SUV model. The company will use its plant in Lafayette to increase output.
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Vectren digs in to fight gas plantRestricted Content

January 12, 2013
Chris O'Malley
A synthetic natural gas plant proposed downstate need only tweak its contract with would-be gas purchaser Indiana Finance Authority to comply with an October court ruling and to proceed with the project, Indiana Gasification said in a recent filing with the Indiana Court of Appeals. But opponents of the plant, led by Evansville-based gas and electric utility Vectren, immediately objected.
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  1. The $104K to CRC would go toward debts service on $486M of existing debt they already have from other things outside this project. Keystone buys the bonds for 3.8M from CRC, and CRC in turn pays for the parking and site work, and some time later CRC buys them back (with interest) from the projected annual property tax revenue from the entire TIF district (est. $415K / yr. from just this property, plus more from all the other property in the TIF district), which in theory would be about a 10-year term, give-or-take. CRC is basically betting on the future, that property values will increase, driving up the tax revenue to the limit of the annual increase cap on commercial property (I think that's 3%). It should be noted that Keystone can't print money (unlike the Federal Treasury) so commercial property tax can only come from consumers, in this case the apartment renters and consumers of the goods and services offered by the ground floor retailers, and employees in the form of lower non-mandatory compensation items, such as bonuses, benefits, 401K match, etc.

  2. $3B would hurt Lilly's bottom line if there were no insurance or Indemnity Agreement, but there is no way that large an award will be upheld on appeal. What's surprising is that the trial judge refused to reduce it. She must have thought there was evidence of a flagrant, unconscionable coverup and wanted to send a message.

  3. As a self-employed individual, I always saw outrageous price increases every year in a health insurance plan with preexisting condition costs -- something most employed groups never had to worry about. With spouse, I saw ALL Indiana "free market answer" plans' premiums raise 25%-45% each year.

  4. It's not who you chose to build it's how they build it. Architects and engineers decide how and what to use to build. builders just do the work. Architects & engineers still think the tarp over the escalators out at airport will hold for third time when it snows, ice storms.

  5. http://www.abcactionnews.com/news/duke-energy-customers-angry-about-money-for-nothing

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