Indianapolis Business Journal - March 23-29, 2018


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In This Issue

Front Page

Naming-rights deal could boost Pacers’ income

Pacers Sports & Entertainment should have little problem securing a new naming-rights sponsor for the fieldhouse that will pay at least double the current rate of $2 million a year, experts say.

Indiana life sciences firms raise record $111M in venture capital in 2017

A $44 million VC infusion in 2017 for biosciences firm On Target Laboratories was one indication that Indiana’s life sciences sector is finally starting to pull down some serious venture funding.

Top Stories

Without state fix, federal tax change could cost Indiana firms $100M

Indiana businesses and individual taxpayers might have double the work (and double the cost) to calculate their taxes next year if May's special session fails to address the problem.

3-year grant brought playwright to IRT; 20 years later, he’s still around

Kansas-native James Still first came to Indianapolis in 1991, to take part in a playwriting symposium. He later landed the role of playwright-in-residence and has had 20 plays produced here.

Soup maker answers call for locally made goods

Lisa Sprunger founded frozen-soup company Urban Ladle in the kitchen of her north-side home, nurturing it into a line of seven frozen soups sold at various, mostly Indiana, retailers.

Q&A: Kroger manager ‘came with the building’

When Marsh moved Larry Schultz out of its Mass Ave store years ago, customers threw a fit. Kroger was smart enough to make him manager of its new downtown store.

Neighbors of proposed Carmel hospital gear up to fight project

More than 100 people gathered Tuesday to plan how to oppose the project, which calls for nine buildings, two helipads and four parking garages.

Tow Yard equipment, recipes set to hit auction block

Indianapolis-based Key Auctioneers said it will consider offers for the microbrewery's assets before the April 9 auction.

One of central Indiana's oldest web developers acquired

New England-based SilverTech Inc. plans to expand to its second market by buying local stalwart Bitwise Solutions, which was founded in 1991.

UPDATE: IndyCar inks three-year media rights deal with NBC Sports

The deal with NBC Sports Group will dramatically increase IndyCar's exposure next season and move the Indianapolis 500 to a different network for the first time since 1965. It won't end the live local blackout of the Indy 500.

Former Lilly CFO Rice to lead CVS Caremark, report says

Derica Rice, 53, one of the nation's most powerful black executives, retired from Indianapolis-based drugmaker Eli Lilly and Co. in December, after the company passed him over when naming a new CEO.

Meridian Plaza buildings in Carmel fetch more than $30M

Zeller Realty Group has sold the two spacious buildings along the North Meridian Street office corridor after undertaking extensive renovations.


Venture studio High Alpha offers its firms mentoring, money, marketing and more

Since its takeoff three years ago, investor High Alpha has grown its stable of studio companies from three to nine.

PELLETIER: Watch out! Cyber criminals love to hit in springtime

Cyberattacks can take many forms, but whether malware is the main method or a hacker gains command and control by initiating a phishing campaign, the adversary is always the same: a human.

Driverless car company partners with Indy 500 winner

ClearScholar signs two new clients


EDITORIAL: How can a supermajority fail? Ask Indiana Republicans

Voters should be frustrated with GOP leadership—or lack thereof—at the Legislature. But at least they can now dull their distress with beer they buy on Sundays.

MORRIS: Much to talk about in bustling Fishers

While it takes a village to make something great, I am impressed with Fishers Mayor Scott Fadness—his leadership and vision for the city and as an individual who’s concerned about the well-being of people.

COOK and CULP: State moves needle (back and forth) on perception issues

The cost of doing business is supremely important to economic development. But so is promoting a social culture that appeals to the talent required to make these businesses operate.

WHITE: What the ‘New Urban Agenda’ means for Indianapolis

The New Urban Agenda outlines 17 key commitments, among them providing basic services to all citizens; fair and equal access to housing; support for cleaner cities; improved connectivity and support for innovative and green initiatives; and safe, accessible and green public spaces.

FEIGENBAUM: Retiring Rep. Charlie Brown paves way for next generation

Rep. Charlie Brown, D-Gary, first elected in 1982, is one of several lawmakers who will not run again. While he’s unfamiliar to most outside Lake County, he leaves a fascinating legacy and one of importance not just in Lake County and the Statehouse, but for people in Indianapolis.

MALATESTINIC: Open work spaces: Does your company fit?

Distractions abound, and the good ideas the employer had hoped to engender through collaboration might never appear.

KIM: Overconfidence plagues ‘bracketologists’ and investors

Never accept a wager offered by Warren Buffett and don’t sell when he’s buying (or vice versa).

BOHANON & CUROTT: Muncie school-funding problem is about control

the district’s problems illustrate a larger issue: How should different levels of government work together to provide K-12 education?

LETTER: IEDC shouldn’t play favorites

Take the Indiana Economic Development Corp. out of the business of deciding who will get favorable financial treatment.

In Brief

Discount grocer Aldi coming to former Marsh site in Nora

The Marsh closed in April 2017 as the grocer teetered toward bankruptcy. Meanwhile, Aldi is on a tear with its plans to modernize existing stores and open new ones.

Holcomb traveling to Canada for three-day trade mission

The Indiana Economic Development Corp. announced Monday afternoon that Holcomb will spend Monday through Wednesday in Canada to promote investment in the state.

Salvation Army moving Indiana headquarters to Castleton

The not-for-profit is spending $4.5 million to renovate its new building following an agreement to sell its current property to the neighboring Children's Museum of Indianapolis.

Governor makes utility regulatory leadership moves

Gov. Eric Holcomb on Monday appointed former state representative David Ober to an open spot on the Indiana Utility Regulatory Commission and promoted interim IURC chairman Jim Huston to chairman.

Area home builders have busiest February since 2006

Builders filed 481 single-family construction permits in the nine-county area in February, a 37 percent increase over the 351 permits they filed in 2017.


McCORMICK: Shortages mean hiring flexibility is necessary

Indiana has unlicensed, skilled individuals who can help meet our classroom needs.

LUX: Unlicensed teachers—a dangerous new norm

The goal is not how much a teacher knows, but how much a teacher can get his or her students to know.

SLASH: And a child shall lead them …

Most of us can't even begin to understand the level of trauma our students face, yet we're the ones making the decisions.

SMITH: Guns, children and common sense

I want to establish that not all of us who support gun control have negative views about all guns.

LUCAS: New government rules not answer to shootings

Government failed at every level and people are demanding even more layers of government.

McGRATH: Insatiable curiosity is our hope for the future

Being curious may not be perfectly synonymous with being entrepreneurial, but I don't know any entrepreneurs who aren't insatiably curious.

OESTERLE: Student visas plummet under Trump policies

This is crazy. It is also completely counter to the merit-based immigration policies the administration keeps pushing.

BLACK: Leadership in life, politics is about uplifting others

Leaders don't always make the correct decision, but they are willing to make a decision, especially in stressful situations.

HALLOWELL: Clinton and her cronies insult women

We need more women in leadership. We need more women running companies. We need more women elected to office.

HATHAWAY: Women must focus on shattering glass ceiling

Let's make sure we continue to nurture an environment for women to be successful in whatever profession they choose.

PING: Good federal trade policies help Indiana

In 2017, Indiana exported more than $37.8 billion worth of products-ranking it 11th in the country for the value of goods we sold to other countries.

McDONALD: The spark of entrepreneurship: time’s up

The leaders of venture funds are almost exclusively older men, and they place their bets accordingly.

CELESTINO-HORSEMAN: Think tanks? Think again

You will have to do your own research and verification.

LANOSGA: Indiana Debate Commission’s role is nonpartisan

Voters in statewide contests are not well-served by debates that are aired or covered only in limited corners of Indiana.

DELANEY: There’s nothing super about this supermajority

We did little harm this year because we did so little.


LOPRESTI: Hey, Indy. It's time to play Name That Stadium

Seems the Bankers Life folks have turned in their notice at the fieldhouse. But naming stadiums can be tricky business.

Experiencing the Sports Legends Experience

The Children’s Museum of Indianapolis’ new Sports Legends Experience is ready for action. Are you ready to play? Here are 10 things you should know:

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