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UPDATE: Arcadia confirms major growth plans

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Arcadia Resources Inc. is planning a $3.9 million expansion of its Indianapolis headquarters and pharmacy operations, the company said Thursday morning, confirming that it plans to add as many as 930 jobs by 2013.

IBJ first reported the health care service-provider’s plans Wednesday afternoon.

Company officials joined Gov. Mitch Daniels and Mayor Greg Ballard in making the official announcement at Arcadia’s north-side headquarters. The Indiana Economic Development Corp. offered up to $13.5 million in tax credits based on the company’s job-creation plans, and city officials will consider an additional property tax abatement.

The company leased 18,615 square feet of space earlier this year at 9320 Priority Way West in the Precedent Office Park.

Arcadia said it plans to grow its corporate presence and centralize its pharmacy-fulfillment operations here, hiring managers, pharmacists, pharmacy technicians, account managers and sales staff. It now has about 500 employees in Indiana and 4,000 nationwide who provide home health care services.

The company is trying to grow its DailyMed pharmaceutical service, which packages dosages of prescriptions into individual packets to make it easier for patients on numerous medications to stick to their drug regimens.

In 2009, Arcadia announced a partnership with Indianapolis-based WellPoint Inc. to provide the DailyMed service to Medicaid patients in six states. Revenue from its DailyMed program has increased for six consecutive quarters, the company said.

Arcadia has struggled to remain profitable since going public in 2002. It reported a loss of $3 million in the fiscal third quarter ended Dec. 31, compared with a loss of $2.8 million in the same quarter in 2008. The company reported revenue of $26 million in the quarter, nearly unchanged from the year-ago period.

Arcadia agreed in 2007 to move from Southfield, Mich., to Indianapolis and create 400 jobs over two years in exchange for about $6 million in economic development incentives.

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  1. I am not by any means judging whether this is a good or bad project. It's pretty simple, the developers are not showing a hardship or need for this economic incentive. It is a vacant field, the easiest for development, and the developer already has the money to invest $26 million for construction. If they can afford that, they can afford to pay property taxes just like the rest of the residents do. As well, an average of $15/hour is an absolute joke in terms of economic development. Get in high paying jobs and maybe there's a different story. But that's the problem with this ask, it is speculative and users are just not known.

  2. Shouldn't this be a museum

  3. I don't have a problem with higher taxes, since it is obvious that our city is not adequately funded. And Ballard doesn't want to admit it, but he has increased taxes indirectly by 1) selling assets and spending the money, 2) letting now private entities increase user fees which were previously capped, 3) by spending reserves, and 4) by heavy dependence on TIFs. At the end, these are all indirect tax increases since someone will eventually have to pay for them. It's mathematics. You put property tax caps ("tax cut"), but you don't cut expenditures (justifiably so), so you increase taxes indirectly.

  4. Marijuana is the safest natural drug grown. Addiction is never physical. Marijuana health benefits are far more reaching then synthesized drugs. Abbott, Lilly, and the thousands of others create poisons and label them as medication. There is no current manufactured drug on the market that does not pose immediate and long term threat to the human anatomy. Certainly the potency of marijuana has increased by hybrids and growing techniques. However, Alcohol has been proven to destroy more families, relationships, cause more deaths and injuries in addition to the damage done to the body. Many confrontations such as domestic violence and other crimes can be attributed to alcohol. The criminal activities and injustices that surround marijuana exists because it is illegal in much of the world. If legalized throughout the world you would see a dramatic decrease in such activities and a savings to many countries for legal prosecutions, incarceration etc in regards to marijuana. It indeed can create wealth for the government by collecting taxes, creating jobs, etc.... I personally do not partake. I do hope it is legalized throughout the world.

  5. Build the resevoir. If built this will provide jobs and a reason to visit Anderson. The city needs to do something to differentiate itself from other cities in the area. Kudos to people with vision that are backing this project.

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