Indianapolis Business Journal – June 21-27, 2019




In This Issue

Front Page

Hoosier Lottery to explore online games

The Hoosier Lottery is set to study the move that could let players buy tickets for Powerball, Mega Millions and instant games on their phones.

Lilly’s push into pain research starting to pay off

In recent months, the drugmaker has won federal approval to sell a drug called Emgality for two conditions: migraine pain and cluster headaches.

New CIB leader Andy Mallon is mix of ‘bulldog,’ ‘cool head’

The 43-year-old Indianapolis native will have to carry out a slate of calculated moves designed to give the quasi-government agency a more sound financial future, including a 25-year vision.

Top Stories

Fishers targets improvements, development along Allisonville Road corridor

Several ongoing projects—and a few recently announced—are focused on the west side of the city.

Angie’s List set for big growth two years after acquisition

Now a part of New York-based IAC’s ANGI Homeservices Inc., Angie’s List is achieving record sales and planning for major growth in Indianapolis.

Will debut made-in-USA expo bring big crowd?

A convention thought to be the first of its kind will take over nearly half the Indiana Convention Center for four days this fall, with a focus on promoting products manufactured in the United States.

Q&A with Heather Tallman, Indiana Grown program manager

Indiana Grown will be staging its third Monumental Marketplace on June 28 on Monument Circle.

TWG seeks tax break for $26M apartment project at old IPS site

TWG Development could save $1.4 million on the 188-unit Wesmont, named after jazz guitar legend Wes Montgomery. It’s part of the company’s larger redevelopment project south of East 16th Street and east of the Monon Trail.

Hill accusers describe ‘retaliatory hostile work environment’ in complaint


Editorial: Job one for eco-devo pros is helping existing firms thrive

To win at the economic development game, the state must minimize weaknesses and build on strengths. That keeps existing companies investing here, which is our surest path to prosperity.

Mickey Maurer: Mayor Pete shines as Trump alternative

According to polling by Business Insider, 34% of registered Democrats who said they would vote in the 2020 primary believe that Buttigieg would beat President Donald Trump, a number greater than most of the established politicians jockeying for position in this race.

Aaron Renn: Indy needs to become a magnet for non-Hoosiers

Turning the city into a national, not just a state or regional, talent magnet can happen. Indy will never compare to the coastal giants, but it very much can replicate the success of Southern boomtowns like Nashville.

Bill Malcolm: Indiana is blind to the opportunities of rail travel

The Chicago service was not perfect, but there was little done to improve it. It needed to operate more than once a day in each direction, the travel times could have been improved, the tracks could have been upgraded, and the state could have done a better job marketing it.

MITCH DANIELS: The values learned on the farm are important for all

Successive revolutions in mechanization, horticulture and biotechnology have been an enormous blessing, enabling a tiny percentage of Americans—today fewer than 2%—to feed the rest of us and much of the world.

Sheri Fella: The necessity of finding inspiration for growth

If you aren’t growing as a human being, you are shrinking—receding like the glacier.

Tom Gallagher: Urban character not limited to metro downtowns

Urban living means more than just locating in the downtown core of the biggest cities. What people are looking for is not a compromised blend of suburban and urban, but an urban condition scaled to their lifestyle.

KIM: Is Beyond Meat’s IPO valuation beyond rational?

Just like Clara Peller in the 1984 Wendy’s commercial, investors should be asking, “Where’s the beef?” at Beyond.

BOHANON & CUROTT: Viewing Ann Dancing through lens of a public good

The statue’s boosters are trying to raise $262,000 to ensure its permanent presence. Critics argue Ann has had her day and the funds could be better used elsewhere.

Letter: Science not settled by consensus

Among the many things that have kept our climate changing for 4.5 billion years is an 11-year solar cycle, volcanoes and the “North Atlantic Oscillation”—a cold phase that occurs every 20 to 30 years. It began about three years ago and has cooled the Atlantic Ocean to the coolest it’s been since the 1980s.

In Brief

Circle Centre sees larger annual profit, lower sales

Circle Centre saw its profit and store count rise in 2018, mall manager Simon Property Group said. But the financial performance of the downtown shopping center significantly trailed other properties in Simon’s portfolio.

Developer plans to raze homes in Fishers for $29M apartment project

The Fishers City Council on Monday night approved a development agreement between the city and Indianapolis-based Scannell Properties, which has 14 residential parcels under contract south of the Nickel Plate District.

Lilly Endowment saw huge jump in assets in 2018

The Indianapolis-based foundation’s run-up solidified its position as one of the largest private charitable foundations in the country.

Primary municipal elections see 13% turnout statewide

In the Indianapolis area, Boone County had the highest turnout among counties, at 22%.

Special Sections

2019 Indiana 100: From casket-making roots, Hillenbrand branches into industrial equipment

The Batesville-based company recognized that it needed a new growth engine after Americans began embracing cremation as an alternative to casket burials.

2019 Indiana 100: Harrowing recession made trailer-maker Wabash National stronger

Thanks in part to that diversification, Wabash National in 2018 racked up revenue of $2.3 billion, the highest in the company’s history.

2019 Indiana 100: Glick takes deliberative tack as apartment sector booms

CEO David Barrett said the last decade has been great for apartment developers, but he knows more challenging times are ahead.

2019 Indiana 100: New exec at OneAmerica pilots its largest division

Sandy McCarthy is president of retirement services, which has more than 1 million participants.

2019 Indiana 100: Duke veteran sees company, real estate industry evolve

Ann Colussi Dee, who's been with the company 23 years, oversees 12 attorneys and paralegals based in Indianapolis, Chicago and Atlanta.

2019 Indiana 100: Shoe Carnival CEO wants to ‘make it easy on the customer’

CEO Cliff Sifford says he encourages store managers to run their stores like entrepreneurs.


MIKE LOPRESTI: For Carmel High School, sports dynasty hits milestone

Last week, the Carmel boys golf team rolled to another championship by 17 strokes. It was the seventh state title of the school year for the giant school from the suburban beehive, whose population is now past 90,000.