Indianapolis Business Journal – September 21-27, 2018


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In This Issue

Front Page

Downtown sees blitz of hotel projects

The Indianapolis hotel market is booming, with about 2,800 new rooms slated to come online downtown alone in the next five years.

Early 5G rollout in Indianapolis gives city wireless advantage

The buzzword in mobile is 5G—the newest generation of wireless service that promises more speed and better connectivity for smartphones, internet-connected devices and even autonomous cars.

Top Stories

Political campaigns boost investment in social media ads

Candidates running at all levels of government have turned to cheaper and potentially more effective social media ads to reach voters.

Carmel eyes changes for German market’s second year

Leaders of this year’s Carmel’s Christkindlmarkt are already planning a more ambitious schedule and making changes to address visitors’ concerns from the inaugural event.

Rosie’s Place takes cookies and more to Carmel

Debbi and Michael Bourgerie opened Rosie’s Place in Noblesville in 2010. They now also operate a second eatery with the same name in Zionsville and will open a third location in Carmel this fall.

Q&A: Driven by curiosity, Zachary Baiel pushes for open records

Zachary Baiel attends countless public meetings every year and spends hours listening online to the ones he missed. That passion led him to join the Indiana Coalition for Open Government in 2015 and become its president last year.

OneAmerica sailed through financial crisis but still learned lessons

An analysis by OneAmerica of 32 major life insurers found that it was the only one that realized a gain on its investment portfolio from 2008-2010.

Greenwood approves incentives for potential $80M Amazon project

The mysterious company that is considering building an $80 million distribution facility in Greenwood and creating 1,250 full-time jobs was revealed Monday night during a city council meeting.

Fast-growing Garrett to build $20M Greenwood apartment complex in own back yard

The site for the 180-unit project is somewhat unusual—inside a business park that includes office buildings, a hotel, a Goodwill outlet store and the headquarters of The Garrett Cos.


Purdue plans $1.2B innovation district that could change ‘trajectory of the region’

The intent is to create an entrepreneurial ecosystem, filled with services and amenities that would make it easy for Purdue graduates and faculty to pursue their careers or start businesses in West Lafayette.

IBJ real estate panel talks apartments, Mass Ave, Castleton

Experts at IBJ’s Commercial Real Estate Power Breakfast said the fundamentals of downtown’s apartment market remain strong.

French Lick Resort plans $17 million expansion project

The six-story addition will add 56 guestrooms and a sports bar to the southern Indiana tourist destination.

Drury plans to demolish Caribbean Cove hotel/water park, build new inn

The mammoth hotel and conference center abruptly closed last year, leaving a huge hole in the Michigan Road corridor south of I-465. Drury Hotels wants a tax break from the city for its plans to fill it.

Former racer Sarah Fisher, partners acquire south-side kart track

A team including former IndyCar driver Sarah Fisher purchased the aging track in a last-ditch effort to prevent the property from being bulldozed.


Editorial: Plans to revamp AT&T tower, Illinois Building are welcome

We think the city’s plan to provide $16.7 million to help finance construction for two Keystone Realty Group projects downtown totaling $141 million stands up to scrutiny about using public money to help private investment.

Greg Morris: USS Indiana should make Hoosiers proud

The commissioning, a ceremonial joining of a ship and her namesake, will mark the official entry of the USS Indiana to the Navy’s fleet. The submarine will be given a grand send-off as she joins the world’s most powerful Navy.

Allison Schnable: New tax law, higher demands pinch not-for-profits

Research by the Indiana University Lilly Family School of Philanthropy estimates that not-for-profits will lose up to $11 billion in donations next year thanks to changes in the tax law. Not-for-profits will need private donors more than ever.

Bryan Mills: Higher tobacco tax equals lower health care costs

Research suggests that a 10 percent increase in the cost of cigarettes cuts the number of pregnant smokers 7 percent and reduces the number of kids who smoke by a similar percentage.

Maggie Phelps: The pitfalls of being a people pleaser

The moment we forsake our own voice, opinion or sense of self to please someone else is the point when being a people pleaser turns from strength to pitfall.

URBAN DESIGN: Weak link between food deserts, poor nutrition

Easy access to groceries no panacea for bad nutrition, but built environment has role to play.

HAHN: What Kenny Rogers can teach us about investing

His signature song, “The Gambler,” contains sage advice for investors.

BOHANON & CUROTT: High incarceration rates are drag on economy

In these divisive times, a surprising number of political players agree on one thing: America keeps too many people in prisons and jails.

Congress is to blame for Washington’s ills

Letter: Transit advocates alarmed by lack of vision

Recent media accounts missed the real story on Fishers and Noblesville’s selfish plan to remove the rail tracks that run all the way to downtown Indianapolis (aka the Nickel Plate Railroad or State Fair train tracks) but uncovered a void in regional transit leadership.

In Brief

New Bon-Ton owner has no plan to reopen Carson’s store in Circle Centre

Merrillville-based CSC Generation Holdings Inc., which acquired Bon-Ton’s intellectual property in bankruptcy court, said Indiana was not part of its initial plan to reopen stores.

For-profit educator Harrison College going out of business

Harrison, which was founded in Marion in 1902 as Indiana Business College, said it would close all of its campuses in three states on Sunday.

Competitor beats Lilly to market with migraine drug approval

The competition for the multi-billion dollar migraine market is set to heat up with the FDA expected to decide on Lilly’s migraine therapy next month.

Local tech firm Emplify lands $7.5 million in venture capital

It’s the first round of growth capital secured by the company, which focuses on human resources-related software-as-a-service products.

Pulte plans 460-acre residential project in Noblesville

Parkside at Finch Creek would be designed for as many as 1,500 new housing units, including homes for empty-nesters, apartments and senior-care facilities.


All aboard new Nickel Plate Express excursion train

Two years after Nickel Plate Railroad owners halted tourism train service, a new operator is revving up excitement for excursions along 12 miles of track from Atlanta to Noblesville.

MIKE LOPRESTI: Vinatieri, four kicks from history, was lucky to survive second game

Colts’ ageless wonder bounced back after a disastrous outing in Buffalo.