JUNE 17-23, 2022
Indiana tourism officials are betting big on efforts to bring more visitors to the state, in part with a public campaign that they hope will spur a significant funding increase from the General Assembly next year. Mickey Shuey outlines the $5.6 million campaign they’re calling “IN Indiana.” Also in this week’s issue, John Russell reports that Eli Lilly and Co. is defending itself against a lawsuit charging that it mismanaged its $8.2 billion 401(k) plan, resulting in excessive fees for employees. And Daniel Bradley outlines Westfield’s plans for the $190 million Grand Millennium Center, which will include a library, event center, medical facility and hotel.
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Lilly faces lawsuit over alleged excessive retirement-plan fees
The drugmaker is one of hundreds of U.S. companies being sued in the recent trend in litigation: excessive fees on 401(k) retirement plans.
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State tourism agency plans to ask for huge funding boost
Tourism officials are introducing a campaign they hope will set the stage for a significant funding increase from the General Assembly next year.
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Westfield prepares to break ground on Grand Millennium Center
A 64-acre site is expected to become a prime live-work-play spot in the rapidly growing city’s downtown once the development is built out.
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State takes steps to build on success of Indy Autonomous Challenge
The IEDC has contributed $3.4 million toward creating the Indy Innovation Challenge, to encompass both the Indy Autonomous Challenge and potential future competitions focused on performance automation technology.
Read MoreQ&A with Randy De John, who’s working to bring back customer service
Randy De John experienced the flaws of the food-delivery industry firsthand at his home in Fishers. So, being a restaurant industry veteran of 37 years and a former managing partner at Casler’s Kitchen & Bar, he decided to do something about it.
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Mark Montieth: That sixth pick can be the sweet spot
Yes, the Pacers could come out of the draft with a meaningful player. Standing sixth in line for the draft presents their best opportunity to get one since 1988, when they took Rik Smits with the second overall pick.
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City picks $175M project for block that includes City Market, Gold Building
Gershman and Citimark’s project includes a different look and a new use for the Gold Building and construction of an 11-story building to replace the east wing of the Indianapolis City Market.
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Five questions and answers about Urban One’s acquisition of Emmis stations
The Indianapolis cluster of radio stations owned by Urban One Inc. is set to grow thanks to the upcoming acquisition of all Indianapolis radio properties now owned by Emmis Communications. Here are some of the details.
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Blockbuster Duke sale to include 14.7M square feet in Indy area
Duke Realty Corp. has developed or co-developed major industrial buildings and complexes at the crossroads of America, which has become a significant national hub for warehousing, logistics and e-commerce operations.
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Duke put major stamp on Indianapolis real estate market
Duke and its predecessor companies were behind or involved in many of the biggest office, retail and industrial projects in the city’s history and left a mammoth mark on the city’s form and workplace function.
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Developer withdraws plans for controversial $61M Willows project
The team behind the proposed redevelopment of the Willows Event Center into apartments near Broad Ripple has withdrawn its proposal, just hours before it was set to be considered by a city commission.
Read MoreIBJ wins six national business journalism awards, including for NCAA tourney coverage
IBJ’s top honor came in the “best editorial” category for an editorial headlined “Where’s the real punishment for FBI officials in Nassar case” published on July 23, 2021, and written by Managing Editor Greg Weaver.
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Fitness chain opening gigantic gym in former Marsh supermarket
The Villages at Eagle Creek location was one of 18 stores closed by Marsh Supermarkets in mid-2017 as part of the company’s bankruptcy plan after the properties failed to sell at auction.
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Do it Best CEO says Electric Works ‘will change the face of Fort Wayne’
Late this year, the company—founded in 1945—will move into a new, 200,000-square-foot headquarters as the anchor tenant of Electric Works, a massive redevelopment of a 39-acre historic campus in the core of Fort Wayne that housed General Electric Co. until it closed in 2014.
Read MoreLogistics business to open distribution center with cold storage in Whitestown
Indianapolis-based Langham Logistics said the facility will be dedicated to pharmaceutical, vaccine and biologics manufacturing and distribution clients.
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Editorial: Investigators must research, root out COVID-relief fraud
But we should consider all of the information we learn within the context of the chaotic time we are living in—and when appropriate, we should give people, policymakers and administrators the benefit of the doubt.
Read MoreNate Feltman: For 2024, Indiana needs Mitch Daniels
Could Daniels be convinced to jump in the old RV again and run for governor in 2024? If he did and won, Daniels would be the first Indiana governor to be elected to the office three times.
Read MoreEric Holcomb & Gretchen Whitmer: Congress needs to pass innovation legislation soon
With passage of the innovation bill, the Midwest is ready to jump into action to grow the semiconductor industry and build the innovation and technology economy of the future.•
Read MoreErsal Ozdemir: Indiana is part of global effort to battle Alzheimer’s
The impact of dementia has a ripple effect on every aspect of society, impacting families, health care providers and our economy.
Read MoreCharlotte Westerhaus-Renfrow: Ensure that constructive feedback is truly constructive
Critical feedback activates brain circuitry wired for anxiety.
Read MoreFast 25: RISE Commercial District
RISE Commercial District provides co-warehousing space where companies can lease spaces and share services (everything from internet to conference rooms to forklifts).
Read MoreMickey Kim: Bursting speculative bubbles leaves financial destruction path
The narrative of abundant, ultra-cheap credit was a tide that lifted asset classes of all types.
Read MoreCecil Bohanon & Nick Curott: WIC contracts led to huge market shares of formula
Few public policies are as broadly popular as the proposition that infants should have access to baby formula.
Read MoreLetters: Indiana chased out electronics industry
Indiana used to have six semiconductor [fabrication plants]. But for some unknown reason, our politicians (Republican and Democrat, city and state, past and present) as well as their respective economic development officials said that they did not want to support our electronics industry with its semiconductor fabs.
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Children’s Museum pledges changes after watermelon salad incident
The Children’s Museum of Indianapolis announced Tuesday that it plans to “employ a more robust review process” with its vendors to avoid another embarrassing public relations gaffe like it experienced earlier this month.
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Mitch Daniels stepping down as president of Purdue University
Daniels will be replaced by the university’s dean of engineering and executive vice president for strategic initiatives, the university announced.
Read MoreAs inflation rises, Indiana casino revenue shrinks for second month
This spring’s decline in casino earnings largely tracks with the nation’s soaring inflation rate and the end of various federal COVID-19 relief and economic stimulus programs aimed at shoring up the post-pandemic economy.
Read MoreDeveloper plans new industrial parks in Avon, Mount Comfort
Kansas City, Missouri-based commercial real estate developer VanTrust Real Estate LLC said it plans to spend about $220 million to construct six industrial buildings, with three each at sites in Hancock County and Hendricks County.
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Do it Best CEO says Electric Works ‘will change the face of Fort Wayne’
Late this year, the company—founded in 1945—will move into a new, 200,000-square-foot headquarters as the anchor tenant of Electric Works, a massive redevelopment of a 39-acre historic campus in the core of Fort Wayne that housed General Electric Co. until it closed in 2014.
Read MoreQ&A with Cathy Langham about growing cold-storage demand
Indianapolis-based Langham Logistics is set to open a 150,000-square-foot warehouse in Whitestown to serve pharmaceutical and biotech companies—and their suppliers—who need cold storage, meaning anything from chilled space to ultra-low-temperature freezers.
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