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254 Articles

New United Way strategy fuels big changesRestricted Content

August 30, 2014
United Way spent nine months putting together The New U—a strategic shift intended to speed change by investing in programs that make a measurable difference in the areas of education, income, health and basic needs.

Boone County agency taps native as eco-devo leader

August 28, 2014
Molly Whitehead joined Boone Economic Development Corp. as executive director Aug. 18, a little more than a month after predecessor Bryan Brackemyre left for a job at Ernst & Young.

HQ move earns pharma firm another tax break

August 27, 2014
A Carmel-based institutional pharmacy plans to invest $8 million expanding its Noblesville operations, which include its headquarters. On Tuesday, it received its second tax-incentive deal from the city in two years.

Noblesville eyes plans for $10M park, amphitheater

August 22, 2014
Officials hope to bolster the city's "hipstoric" downtown and jump-start redevelopment of a key community gateway. But the price strikes some as steep.

Sun King plans $8.8M brewery, tasting room in Fishers

August 18, 2014
Homegrown craft-beer maker Sun King Brewing Co. plans to build a second production facility and tasting room in Fishers, adding capacity as it widens its reach. The Town Council will consider a $2.5M economic development deal Monday night.

Family peanut-butter venture sees sales take off

August 9, 2014
B. Happy Peanut Butter is a hit at the summer market—and then some. Available at more than a dozen retail outlets in central Indiana, its seven varieties of hand-packed PB could produce sales of $100,000 this year.

Local Goodwill boss McClelland set to retire in mid-2015

August 7, 2014
After four decades at the helm of Goodwill Industries of Central Indiana, CEO Jim McClelland plans to step down at the end of June.

Grand Park helps Hamilton County hotels run up score

July 31, 2014
Hotel business is booming in Hamilton County, with mid-year occupancy up 9 percent from the first half of 2013. Open since March, Westfield's massive Grand Park Sports Campus has thrown its weight behind the surge.

Carmel budget hawks want harder line on deals with developers

July 26, 2014
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.

Developer seeks $11.5M subsidy for Carmel project

July 21, 2014
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.

Financial planner parlays meals for clients into money lessonsRestricted Content

July 19, 2014
Joe Clark says the two things that seem to matter to people the most are food and money. He has found a way to combine the two, cooking for client families in their homes once or twice a month as he answers questions and gets to know them better.

Report: Carmel panel may face TIF shortfall but can pay debts

July 17, 2014
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.

Northern suburbs see blitz of apartment construction

July 12, 2014
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.

Jarden Corp. unit plans HQ in Fishers

July 9, 2014
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.

UPDATE: Hoosier roots keep Jarden Home HQ in Indiana

July 9, 2014
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.

Golf-soccer hybrid tees off at five Indiana courses

June 28, 2014
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.

Westfield scores $20M indoor soccer facility, restaurant

June 21, 2014
Real estate developer Holladay Properties plans to build a $20 million indoor soccer facility at Westfield's Grand Park, providing a year-round venue at the sprawling sports campus—and a home for south-side institution Jonathan Byrd's first restaurant in Hamilton County.

Carmel retailers play defense against U.S. 31 construction

June 19, 2014
Business has skidded for some eateries along the corridor as work crews transform it into a limited access highway. Proprietors are reaching out to customers with promotions but gripping the bottom line.

Report: Charitable giving almost back to pre-recession levels

June 17, 2014
Charitable giving in the United States continues to recover from its recession-induced slump, reaching an estimated $335.2 billion last year, a new study concludes.

AYS founder, CEO steps down after nearly 35 years

June 12, 2014
The after-school child services group has installed an interim leader while it searches for a replacement for CEO Ellen Clippinger.

Fishers OKs tax break for medical building

June 7, 2014
Cornerstone Cos. plans to locate the $11 million project near Interstate 69.

Tiny Sheridan girds for inevitable growth

June 7, 2014
The tiny Hamilton County community is mindful of sprawl in Carmel and Fishers, and is determined to absorb growth on its own terms.

Pedcor angling for $16M subsidy for City Center expansion

May 31, 2014
Preliminary plans call for starting work on a parking garage and as many as three mixed-use buildings this fall, with another half-dozen projects in the pipeline.

Isotope maker plans $40M project in Noblesville

May 28, 2014
Radiopharmaceuticals maker Zevacor Molecular plans to open a $40 million isotope-production facility in Noblesville, creating nearly 50 good-paying jobs within five years.

Strapped schools are wheeling and dealing with municipalities

May 17, 2014
State-mandated tax caps are putting additional pressure on public budgets—and spurring local governments to take unusual steps to help their cash-strapped schools.
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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.