Indianapolis Business Journal – July 5-11, 2019




In This Issue

Front Page

Could land trusts keep housing affordable, avoid gentrification?

In a quest to create permanently affordable housing, about 25 Indianapolis community groups and development corporations have formed the Community Land Trust Coalition.

Duke Energy to retire coal plants by 2038; critics say utility should move faster

The utility says it wants to keep most of its coal-fired plants in Indiana running through much of the next decade, while gradually investing in wind, solar and other renewable energy sources.

Local company seeks to make Midwestern fans of kombucha, which is trendy on coasts

Indianapolis-based beverage maker Circle Kombucha wants to sell its signature product—carbonated, fermented tea—throughout the Midwest.

Top Stories

Noblesville mayor-elect Jensen views projected population surge as opportunity

But first—Chris Jensen said—the city needs to take steps that will help guide and keep a handle on the coming influx of residents and businesses.

Protective Insurance seeks to regain footing in tough environment

Industry-wide challenges led Carmel-based Protective Insurance Corp. to a $34.1 million annual loss last year, its biggest in decades.

Q&A: Conrad chef Sven Hildebrandt brings international flair

The 47-year-old told IBJ he hopes to make the most of what he learned in Germany—where he grew up and got his start in hospitality—as well as in Dublin, Phoenix and Virginia, with hopes of adding some authentic German flair to the hotel’s specialty menus.

Cummins to acquire Canadian hydrogen fuel-cell maker for $290M

The move comes as Cummins, long known as a diesel engine powerhouse, expands its efforts in alternative powertrain technologies.

Purdue brings Apollo program alums to campus for 50th anniversary celebration of moon walk

Purdue’s 50th anniversary celebration of the Apollo 11 landing will take place July 18-20.

Developer of $66M apartment project downtown requesting $9.8M in TIF bonds

Under a proposed deal, the Boston-based developer of the 11-story project would receive a portion of the increase in property tax revenue generated by the project in order to pay off the bonds.

Duke Energy Indiana customers could see electricity rates climb by 15%

More than 800,000 customers of Duke Energy Indiana could see their monthly bills jump if the utility receives state permission to increase rates for the first time in about 15 years.

IBJ wins 10 national awards for business coverage

IBJ took top honors from the Alliance of Area Business publications for best coverage of local breaking news, best local coverage of national news, and best specialty e-newsletter.


In midst of a manufacturing skills shortage, one company is filling jobs differently

Morales Group is trying to combat the manufacturing skills gap by training workers and then making its associates feel valued and part of a team, thus making such careers more desirable and attainable.

Summer Celebration’s biz conference fits IBE’s economic mission

That might come as a surprise to those who associate the annual event with its higher-profile entertainment, like concerts, celebrity basketball, films and much more. But, in fact, many companies also use IBE’s business conference and exhibitor event to network or access capital.


Editorial: Voters in Hamilton County deserve choices from both parties

We don’t expect Hamilton County to become a hotbed of liberalism. Nothing in the county’s past or present suggests that could or should happen. But Democrats should be able to offer legitimate alternatives to the dominant party.

NATE FELTMAN: Indy Chamber/IBJ HobNob to kick off mayor’s race

IBJ will moderate a debate between incumbent Joe Hogsett and challenger Jim Merritt about the city’s most pressing issues.

Sheila Kennedy: Jail de-privatization is big step forward, small step back

Indianapolis is making impressive strides in modernizing its approach to criminal justice. The mayor and council should continue that progress by examining the negative impact of imposing “user fees” on low-level offenders.

Rose Mays & Amir Pasic: Unity in diversity—discovering the varieties of generosity

By elevating the stories of those whose generosity has been overlooked, we can learn, achieve dignity, and find ways of crafting new solutions for re-weaving our frayed social fabric.

HAHN: How to spend money to increase your happiness

While not every purchase will bring great happiness, five principles of money will help answer, “Am I getting the biggest bang for my buck?”

BOHANON & CUROTT: Overtime pay advocates, be careful what you wish for

Extending overtime pay to millions of Americans who aren’t currently eligible will burden millions of American businesses. But workers probably stand to lose the most.

Everyday emails can make or break your credibility

If you come across as a competent and caring person of character in all your communications, you’ll keep enhancing and building your credibility—which, in turn, enhances the credibility of your company.

Letter: Legislators disregard commission advice

As a lay member of both the 2017 and 2018 Alcohol Revision Commission, I welcome Beverly Gard’s comments regarding the two sessions to which I was appointed by Sen. David Long.

Letter: Clubhouse serves important need

By shining a light on the Clubhouse, he has enlightened IBJ readers and hopefully the community at large to its noble mission and its need.

In Brief

Developer plans $17.5M apartment project on southern edge of downtown

Indianapolis-based BWI LLC is requesting a city property tax break for the 97-unit development that would save it $1 million over 10 years.

IU Health executive Kitchell leaving ‘for other opportunities’

Ryan Kitchell oversees a wide variety of business operations at the state’s largest health system. His departure comes as IU Health is in the midst of numerous capital projects.


MIKE LOPRESTI: And this one belongs to … Marty Brennaman

The Hall of Fame Cincinnati Reds announcer, about to hang it up after 46 seasons, reflects on how it all started.