Indianapolis Business Journal – June 15-21, 2018


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In This Issue

Front Page

New 360 Market Square apartment tower leaves trail of liens, litigation

Downtown’s new 360 Market Square apartment tower is leasing up nicely, but the $120 million project continues to be plagued by legal disputes related to its construction.

YMCA preparing to open sixth center in Indianapolis area since 2010

The YMCA of Greater Indianapolis has been on a growth spurt the last decade. And now, with 12 facilities, it is one of the largest corporate chapters in the country.

Converse farmer embracing role as hemp pioneer

Healthy Hoosier Oil in Miami County makes culinary oil from sunflower and canola seeds. But someday, the product mix might include hemp oil.

Top Stories

Studio Science research and branding company grows national footprint

The tech-focused research, design and branding company has its eye on greatly expanding its customer base nationally—even beyond the tech sector.

Indiana’s director protections complicate ITT lawsuit

A lawsuit filed by ITT Educational Services’ bankruptcy trustee seeks $250 million from the firm’s former CEO and board members, whom she alleges were disengaged as the business melted down.

Democrats seek inroads in GOP-heavy Hamilton County

A growing number of Democrats in Hamilton County have placed their names on the ballot this year. Twenty-five candidates have already filed to run for either a state or local office.

Longtime entrepreneur sets sights on storage industry

Longtime local entrepreneur Jim Sapp is revving up for expansion of his latest venture: Commercial Self Storage, a company geared to business customers.

Fate of $3M downtown fund precarious despite advancing council hurdle

The petitioners advocating for the Mile Square district’s passage have just barely garnered the amount of signatures required by law to advance the proposal.

Under new owner, Fountain Square’s Wheeler building converting to market-rate housing

Core Redevelopment is buying the building, which houses 36 affordable-housing units, and plans to boost the number of apartments to at least 52 as part of the conversion.

Q&A with Indiana drug czar Jim McClelland

The former Goodwill Industries CEO is charged with coordinating state agencies that affect substance abuse to respond to the current opioid crisis and to reduce the likelihood of a future crisis.


IU Health hopes new robotic warehouse saves it millions

The Indianapolis-based system has spent $9 million on the “high-tech integrated service center,” but hopes to save up to $3 million a year through standardizing inventory, ordering in bulk at a discount, and streamlining delivery routes.

Study: State should spend more on smoking-prevention efforts

Indiana spent $8.2 million in federal and state dollars in 2016 on programs to prevent people from smoking, help them quit, and protect people from secondhand smoke, the study said.

Biotech startup lands $1.8 million in funding

The investors in Scioto Biosciences include locally based Elevate Ventures, a private venture development organization; locally based BioCrossroads, a public-private collaboration that supports Indiana's life-sciences sector; and Ohio-based Rev1 Ventures.

Region ranks fifth for pharmaceutical jobs

The region got a boost from being home to pharmaceutical giant Eli Lilly and Co., along with numerous contract research organizations, suppliers and testers.


EDITORIAL: Mayor Hogsett must lead strategy to rethink 65/70 downtown

Joe Hogsett has written two letters in support of alternative approaches. Though the letters are welcome, we call on him to become the face of the Rethink 65/70 Coalition.

GREG MORRIS: Dove House puts women back on feet

Comprehensive approach, free to clients, helps turn lives around, deserves your support.

Tim Cook: Character should come first, even if it costs you

My dad was a capitalist who took enormous pride in the business he built. But he never allowed his pursuit of the deal to jam his moral compass.

Maureen Krauss: Tariffs could deal blow to businesses in central Indiana

There are over 84,000 export-supported jobs in the Indianapolis metropolitan area, according to the Brookings Institution, so real people stand to suffer from any declines in trade.

URBAN DESIGN: Could the evolving gas station become a social hub?

The places where we fuel up have changed dramatically, and more change is on the way.

Maggie Phelps: We learn by experiencing success, failure

We get comfortable with what we know. Studying a book and reading the paper are easy ways to stay informed and “continue learning,” but do those things make you grow?

COAN: How government debt influences your retirement

The national debt is climbing with no end in sight. Government debt currently tops $21 trillion.

BOHANON & CUROTT: Borrowed time, money keep Social Security alive

Thank heavens Social Security has reserves. We have 16 years to fix the system, right? Think again: The reserves are part of the problem.

LETTER: Fight against opioids boosts manufacturers

It is evident that the opioid epidemic is pushing a record number of Hoosiers to the sidelines of society and out of the workforce.

In Brief

Biodiversity champion wins Indianapolis Prize for conservation work

The seventh recipient of the prize has been credited with protecting hundreds of species and millions of acres of critical habitat around the world. He will receive $250,000.

Cookie shop in Circle Centre reopens under new franchisee

The owner of Gifts and Convenience, a shop in the downtown Embassy Suites by Hilton hotel, is the new franchisee for the mall cookie and desert shop, which closed early this year after a lawsuit from the landlord.

Developer proposes 314-home subdivision in Noblesville

Brooks Farm would feature 314 homes built by two builders, including attached villas and single-family homes.

Co-working haven Speak Easy names new executive director

After a period of rapid growth for The Speak Easy, Julie Heath wants to refocus its energies on membership development and providing startups in central Indiana the resources necessary to grow.


Records for June 15-21, 2018

Here are the records listings for June 15-21, 2018.


MIKE LOPRESTI: Basketball coach spends off season working bases

Guiding a team on the hardwood and serving as umpire in summer gives Disbro unique perspective.

For quick getaway, it’s hard to beat a low-key canoe cruise on Sugar Creek

Fear not, beginners: Sugar Creek poses about as much of a challenge to your paddling skills as the average waterpark lazy river.