Indianapolis Business Journal

Phil Ray, the general manager of the towering JW Marriott, is going out with a bang as Indianapolis hosts its ninth Final Four. Heading into retirement, he holds court on how Indianapolis can remain a go-to location for major sporting events and conventions. Also in this week’s issue, Daniel Bradley digs into the strategy that has helped Carmel-based BSA LifeStructures become a leader in development of health care facilities. And Susan Orr delves into a lawsuit involving allegations of financial mismanagement at addiction treatment centers.

City leaders long have had high hopes for Lugar Plaza, the two-acre civic park immediately south of the City-County Building, but in recent years it has become a magnet for long-term loitering and drug and alcohol abuse. Taylor Wooten explains the city’s new strategy to refresh the plaza. Also in this week’s issue, Dave Lindquist explains how Lucas Oil Stadium became a reliable concert venue. And in Forefront, five Hoosier politicos suggest ways Indiana could increase voter participation.

Indiana’s largest life sciences companies and research universities are working to make the state an international leader in chemistry innovation by investing more than $100 million to recruit top scientific talent. Daniel Bradley has more on the Catalyst Scholars Fund. Also in this issue, Marek Mazurek explains how the state and the private sector hope to make progress on lowering the cost of child care. And Dave Lindquist previews the free (or low-cost) entertainment options available during the week of the Final Four.

The Indy Chamber is revving up a marketing campaign for the city that seeks to disperse the sense of Midwestern modesty that Indianapolis projects. Dave Lindquist details the plans for “Speed City.” Also in this week’s issue, Daniel Bradley digs into the singular career of Tim Coleman, who grew up in Indianapolis and became chief technology officer for Eli Lilly and Co. And Susan Orr reports that some employers are trying to tighten up their dress codes after letting then slide in the post-pandemic era.

In 2024, the city of Indianapolis obtained the 15-acre site on the near-east side that formerly housed the Indiana Women’s Prison. Taylor Wooten reports that many questions remain about how it should be redeveloped. Also in this week;s issue, Dave Linquist goes behind the scenes of the decision to create a new restaurant in place of the highly regarded Milktooth in Fletcher Place. And Daniel Bradley tracks the rise in stock price and revenue for Indianapolis-based Elanco Animal Health.

Owners of independent music venues are pulling back the curtain and speaking candidly about their financial struggles. IBJ’s Dave Lindquist reports that the move is intended to give audiences a chance to support small stages before it’s too late. Also in this week’s issue, Taylor Wooten recounts what happened to proposed state legislation that would have usurped Indy’s billboard regulations. And Lindquist also shares a peek at items from Jim Irsay’s massive pop culture memorabilia collection that soon will be auctioned.

Indianapolis-based mall giant Simon Property Group bettered Wall Street expectations in 2025, thanks to increases in the rent it charges retailers and higher sales figures across its 254 propoerties. Mickey Shuey digs into Simon’s strategy. Also in this week’s issue, Taylor Wooten reports on the likelihood that state legislators will pare down Indiana’s township government model. And in IBJ’s Q&A feature, Jill Ehnes describes her rise to president of Delta Faucet.

The Indiana Forest Alliance switched strategies in its efforts to preserve forested parcels in Indianapolis. Taylor Wooten explores its plan to persuade private landowners in specific areas to sell their properties to public entities. Also in this week’s issue, Dave Lindquist reports on the retail turnover at 17^th and Bellefontaine streets that’s generating buzz for the Kennedy King neighborhood. And Daniel Bradley explains how Hancock Health is reaching out to women to expand conversations about health topics affecting female patients.

Since IUPUI split in 2024, Indiana University and Purdue University have dedicated hundreds of millions of dollars to their respective downtown campuses to grow programs and attract students. Mickey Shuey has a progress report. Also in this week’s issue, Daniel Bradley explains how Indiana’s hospitals are enduring financial challenges that threaten their ability to provide services. And Marek Mazurek breaks down how state lawmakers hope to ease regulations for homebuilders.

Professional sports experts say past NFL stadium deals might offer Indiana lawmakers a few clues to what a Lake County deal could mean for both the team and the state. Also in this week's issue, Taylor Wooten reports that the new leaders of the City-County Council want to quash internal drama going forward to focus on policymaking, collaboration and transparency. And Dave Lindquist points toward a possible rock renaissance for Indiana bands.

Indiana-based Guardian Bikes makes its bicycles in the United States, and it recently proposed to the feds that some of the primary materials in imported bicycles be subject to an additional 50% tariff. Daniel Lee reports that this has put Guardian at odds with much of the bicycle industry. Also in this week’s issue, Marek Mazurek unpacks proposed legislation that would allow businesses to get electricity from a provider other than their local utility company. And Daniel Bradley gets the lowdown on the celebrity chef who opened Clutch Kitchen this month in The Yard at Fishers District.

At and around Gainbridge Fieldhouse, Herb Simon and his family have spent more than $26 million the past two years buying more than a half-dozen downtown properties. IBJ’s Mickey Shuey details the latest transactions and puts them in the context of the family’s ambitions downtown. Also in this week’s issue, Daniel Bradley explains how the owners of Okonori Japanese High Kitchen tried to distill the spirit of a high-end Asian dining experience in the new Carmel eatery. And Susan Orr reports on a lawsuit claiming that small financial institutions across the state are owed hundreds of millions of dollars held in a state-run bank deposit insurance fund.

To start the new year, IBJ arts reporter Dave Lindquist offers 12 ways to be entertained in 2026 with a preview of upcoming shows and events to look forward to. Plus, Marek Mazurek explores the debate about how the state sets utility rates, while Daniel Bradley writes about plans for Westfield's downtown. And Susan Orr explores Sapient Capital LLC, a wealth management firm launched in 2023 by a group of former Stifel Nicolaus & Co. Inc. advisers.

IBJ's The Book—an annual publication packed with industry lists, year-in-review stories and IBJ's honorees for 2025—arrives with this week's print issue of IBJ. Online, you'll find our 2025 newsmakers, led by Newsmaker of the Year Gov. Mike Braun, who spearheaded many significant changes to state government and its priorities. The year's biggest stories included the advent of data centers, the effects of tax reform, the Colts' ownership transition, consolidation of local media and more.

Indianapolis might have missed out on the chance to host a match during the 2026 FIFA Men's World Cup, but Westfield could still play a big role in the international event by hosting a team. Mickey Shuey explains the process. Also in this week's issue, Taylor Wooten reports on a program designed to give a guaranteed income to the needy on the east side. And Daniel Lee explores how Eli Lilly and Co.'s growth is raising pressure on on the region's workforce to meet the drugmaker's labor demands.

Construction is set to begin early next year on a $560 million project to send millions of gallons of water each day from the heart of Indy area to Lebanon to aid the state’s 9,000-acre LEAP Research and Innovation District. Daniel Bradley explores the local impact of the project. Also in this week’s issue, Susan Orr outlines the case against a Carmel man facing both criminal and civil charges over his alleged connection to what authorities describe as a $200 million Ponzi scheme. And Mickey Shuey measures the slow recovery of the Indy area’s office market.

A year after a $450,000 contract intended to help shape development for historic Indiana Avenue expired with no published results of recommendations, the city of Indianapolis has hired a new contractor. Taylor Wooten reports that longtime stakeholders in the corridor's future are experiencing deja vu. Also in this week's issue, Dave Lindquist unspools the strategy to bring broad clarity and long-range planning to an arts-focused campus in the Garfield Park neighborhood. And Marek Mazurek previews five topics that could shape the 2026 legislative session.