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Review finds no conflict in state's deal with Mainstreet

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An economic development incentive deal between the state and a central Indiana real estate company that was put on hold by Gov. Mike Pence has passed a review by a panel looking for potential conflicts of interest.

Pence asked the Indiana Economic Development Corp. in early April to review its decision to grant $345,000 in performance-based economic incentives to Mainstreet Property Group LLC, a company started by a top Republican lawmaker and his son.

"Today, the policy committee of the Indiana Economic Development Corp. board of directors reviewed the Mainstreet Property Group LLC project regarding potential conflicts of interest," the IEDC said Tuesday in a prepared statement, citing committee chairman John Mutz. "The committee found no conflicts and confirmed that the IEDC incentive offer to Mainstreet is very much in line with other IEDC projects. The committee recommended that the IEDC proceed with the project."

Mainstreet, which develops senior and assisted living complexes, was co-founded by Republican House Speaker Pro Tem Eric Turner and is run by his son, Zeke.

The IEDC awards tax breaks and training grants to foster economic development in the state. Mainstreet was offered conditional jobs tax credits and training grants if it hired additional workers as part of its move from Cicero to Carmel. The deal was announced April 8 by IEDC.

IEDC spokeswoman Katelyn Hancock said in a prepared statement April 8 that the agency, at the governor's request, "placed the letter of intent with Mainstreet Property Group LLC on hold pending a review by the IEDC board of directors."

Mainstreet is planning to spend $800,000 leasing and equipping 7,120 square feet of office space in Carmel, and hiring as many as 25 new workers by 2015. The company currently employs 20 workers.

Founded in 2002, Mainstreet has been one of the fastest-growing companies in central Indiana in recent years. It currently has some $200 million in projects under construction.

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  1. With Pence running the ship good luck with a new government building on the site. He does everything on the cheap except unnecessary roads line a new beltway( like we need that). Things like state of the art office buildings and light rail will never be seen as an asset to these types. They don't get that these are the things that help a city prosper.

  2. Does the $100,000,000,000 include salaries for members of Congress?

  3. "But that doesn't change how the piece plays to most of the people who will see it." If it stands out so little during the day as you seem to suggest maybe most of the people who actually see it will be those present when it is dark enough to experience its full effects.

  4. That's the mentality of most retail marketers. In this case Leo was asked to build the brand. HHG then had a bad sales quarter and rather than stay the course, now want to go back to the schlock that Zimmerman provides (at a considerable cut in price.) And while HHG salesmen are, by far, the pushiest salesmen I have ever experienced, I believe they are NOT paid on commission. But that doesn't mean they aren't trained to be aggressive.

  5. The reason HHG's sales team hits you from the moment you walk through the door is the same reason car salesmen do the same thing: Commission. HHG's folks are paid by commission they and need to hit sales targets or get cut, while BB does not. The sales figures are aggressive, so turnover rate is high. Electronics are the largest commission earners along with non-needed warranties, service plans etc, known in the industry as 'cheese'. The wholesale base price is listed on the cryptic price tag in the string of numbers near the bar code. Know how to decipher it and you get things at cost, with little to no commission to the sales persons. Whether or not this is fair, is more of a moral question than a financial one.

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