News & Analysis

City considering abatement terminations, continuances

April 7, 2011
Scott Olson
Five companies are set to have their tax breaks terminated or continued as the city attempts to update the state of the benefits that date to the previous administration.
More

Tax breaks approved for bioanalytical lab operator

April 7, 2011
The Metropolitan Development Commission on Wednesday preliminarily approved Advion BioServices Inc.'s request for a tax abatement to build a laboratory at Purdue Research Park in Indianapolis.
More

Indiana Live parent files for bankruptcy protection

April 7, 2011
Indianapolis Downs LLC, which filed for Chapter 11 reorganization, attributed much of its heavy debt load to a $250 million slots-license fee paid to the state.
More

Challenger alleges misconduct in Westfield mayoral race

April 6, 2011
J.K. Wall
Russell Cameron, who is challenging Westfield Mayor Andy Cook in a May 3 Republican primary, accused Cook’s deputy mayor of improperly using his position and city resources to campaign for Cook’s reelection.
More

Judge hears arguments in White election challenge

April 6, 2011
Associated Press
Attorneys for Democrats and Republican Indiana Secretary of State Charlie White accused each other's clients of political manipulation during a Wednesday hearing.
More

Compromise elusive on Indiana sentencing changes

April 6, 2011
Associated Press
An Indiana legislator trying to find a compromise on a plan that Gov. Mitch Daniels originally pushed to help stem the state's prison costs seems to still have work ahead.
More

Indiana Senate panel votes down proposed smoking ban

April 6, 2011
Associated Press
The Senate Public Policy Committee voted 8-1 Wednesday against the bill that had exemptions for casinos, bars, fraternal clubs, smoke shops and nursing homes.
More

Durham ordered to be held at halfway house for 7 days

April 6, 2011
Scott Olson
A federal magistrate on Wednesday ordered indicted financier Tim Durham held at a halfway house for seven days until he can provide a better accounting of his finances. The magistrate said "money means flight."
More

Tax caps lead to painful budget cuts in some counties

April 6, 2011
Associated Press
Indiana homeowners and businesses have seen their tax bills cut by more than $655 million since the General Assembly approved property tax caps in 2008. But the savings have been tough for some local governments.
More

Marian to delay med school opening until fall 2013

April 6, 2011
J.K. Wall
The Indianapolis university originally hoped to open state's second medical school in fall 2012, but that time line proved too aggressive.
More

Residential developer declares bankruptcy

April 6, 2011
Scott Olson
John Swinehart, a former executive of Bruce Gunstra Builders Inc. who was involved in the Monon on Main project in Carmel, is seeking Chapter 7 bankruptcy protection. He lists liabilities of $8.3 million.
More

Women's Final Four crowds smallest since 1990s

April 6, 2011
 IBJ Staff
Tuesday night's NCAA women's basketball championship game at Conseco Fieldhouse in downtown Indianapolis was a near-sellout, but it was the smallest crowd to see the title game since 1997.
More

Judge to hear argument in White election challenge

April 6, 2011
Associated Press
A Marion County judge is set on Wednesday to weigh whether Republican Indiana Secretary of State Charlie White is legally qualified to serve in the office to which he was elected in November.
More

Ruth Lilly estate donates $10.7M to Indiana University

April 6, 2011
Indiana University will receive donations totaling $10.7 million from the estate of late philanthropist Ruth Lilly, the university announced Wednesday morning.
More

Durham set for afternoon federal court date

April 6, 2011
 IBJ Staff and Associated Press
Former Indiana businessman Timothy Durham, 48, who is accused in a $200 million fraud scheme, is scheduled to appear in federal court in Indianapolis on Wednesday at 2:30 p.m.
More

Doc groups play up economic impact

April 6, 2011
J.K. Wall
Physicians are regarded as smart, successful and helpful when you’re sick—but not usually as a big driver of the economy. Now, however, physician trade groups are arguing that docs are good for business too.
More

Medicare rules hammer hospitals, docs

April 6, 2011
J.K. Wall
Being an accountable care organization will be the major leagues of health care after the federal Medicare program set a high bar for the new kind of doctor-hospital organization.
More

Judge gives probation to three men for water violations

April 5, 2011
Associated Press
U.S. District Judge Sarah Evans Barker sentenced 61-year-old Michael R. Milem of Carmel, 44-year-old Mark R. Snow of Brazil and Joseph T. Biggio, 51, of Illinois after accepting their guilty pleas for violating the Federal Clean Water Act.
More

Indiana judge dismisses lawsuit over forfeiture funds

April 5, 2011
Associated Press
An Indianapolis judge on Tuesday dismissed a lawsuit that accused 78 county prosecutors of breaking the law by not turning over assets seized from criminals to a state school fund.
More

Indiana lawmakers OK hotel sites for casino tourneys

April 5, 2011
Associated Press
Indiana's casinos would be allowed to hold card tournaments at hotels or other sites on their properties under a proposal that has cleared the state Legislature.
More

Fate up in air for proposed Indiana smoking ban

April 5, 2011
Associated Press
The fate of a proposed statewide smoking ban in the state Legislature is uncertain, with anti-smoking advocates keeping up their push for restrictions that are tougher than some lawmakers think can win approval.
More

House committee nixes changes to Indiana scholarships

April 5, 2011
Associated Press
A proposal to tighten requirements for Indiana's popular 21st Century Scholars program for low-income students is in limbo after a legislative committee removed it from a package of revisions to college financial aid programs.
More

Condo sales lag in hot downtown apartment market

April 5, 2011
Cory Schouten
New apartment projects carrying premium rents are popping up all over downtown, but the strong demand for urban living isn't providing much of a boost for the condo market.
More

Hardware store slated for Meridian Street building

April 5, 2011
Scott Olson
City grants approval Tuesday morning for the reuse of Meridian Street building that WFYI vacated in May 2008.
More

Bioanalytical researcher seeking abatement for new lab

April 5, 2011
Scott Olson
Advion, a provider of bioanalytical research and a subsidiary of Ithaca, N.Y.-based Advion BioSciences Inc., is expected to open the 22,000-square-foot lab in mid-May with 49 employees, according to the company's application.
More
Sponsored by
ADVERTISEMENT

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
 
Subscribe to IBJ
  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.

  4. GOOD DAY to you I am Mr Howell Henry, a Reputable, Legitimate & an accredited money Lender. I loan money out to individuals in need of financial assistance. Do you have a bad credit or are you in need of money to pay bills? i want to use this medium to inform you that i render reliable beneficiary assistance as I'll be glad to offer you a loan at 2% interest rate to reliable individuals. Services Rendered include: *Refinance *Home Improvement *Inventor Loans *Auto Loans *Debt Consolidation *Horse Loans *Line of Credit *Second Mortgage *Business Loans *Personal Loans *International Loans. Please write back if interested. Upon Response, you'll be mailed a Loan application form to fill. (No social security and no credit check, 100% Guaranteed!) I Look forward permitting me to be of service to you. You can contact me via e-mail howellhenryloanfirm@gmail.com Yours Sincerely MR Howell Henry(MD)

  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.

ADVERTISEMENT