Indianapolis Business Journal

JUNE 24-30, 2022

Ersal Ozdemir, majority owner of the Indy Eleven, has purchased the 18-acre Diamond Chain industrial site downtown through his development firm Keystone Corp. to build a soccer stadium and mixed use district that could top $1 billion. Mickey Shuey has the details about the plans and explains why the cost of the project is up so much since Ozdemir first proposed Eleven Park three years ago. Plus, reporter Susan Orr reports about new layoffs in the tech sector—but why those who have lost their jobs appear to have plenty of options. And this week's IBJ includes our annual Fast 25 list, which details the fastest-growing companies in central Indiana. At the top of the list is Lifeboost Coffee. which has grown a startling 866% over the past three years.

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Tech sector layoffs are on the rise

Tech has hit a well-publicized slump, and within the last few months, layoffs have hit big companies like Netflix and Coinbase as well as smaller firms like Zionsville-based 120Water, Indianapolis-based Casted, and Terminus, which is based in Atlanta but has an employee base and its CEO in Indianapolis.

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Elanco spinoff BiomEdit locates HQ in Fishers

BiomEdit, one of Indiana’s newest life-science companies, said Monday it will locate its headquarters in Fishers, but hinted it could eventually move to the new $100 million Elanco Animal Health headquarters campus now under construction in Indianapolis.

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Memory Bank: A jovial meeting

Then-Vice President George H.W. Bush meets with former Indianapolis Mayor William Hudnut, a Republican, former Deputy Mayor Joseph Slash and then Urban League President Sam Jones in the mayor’s conference room on June 20, 1983. Twenty other business, community and religious leaders were there. The vice president was in Indianapolis for a Republican gathering at […]

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Fast 25: Lifeboost Coffee LLC

Lifeboost started with direct-to-consumer sales of its signature blend before starting to sell on Amazon. The company now sells light, medium and dark roasts and decaf and has roasters in New York, Virginia, Texas and California to make distribution easier and faster.

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Fast 25: FullStack Inc.

FullStack Inc., a company spun off from Developertown in 2017-2018, is a professional employer organization that handles
a company’s human resources services through a co-employment relationship.

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Fast 25: NCW

NCW helps support commercial industrial contractors, construction companies, manufacturers and distribution companies with staffing services.

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Fast 25: Gemco Constructors LLC

Gemco Constructors is a mechanical, electrical, plumbing, building automation systems and service contractor focused on buildings that support ecommerce, industrial warehouses and freezers, and data centers.

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Fast 25: ShipSigma

ShipSigma’s clients are businesses that do a lot of shipping and want to lower their costs. CEO and co-founder Chase Flashman said his company’s proprietary software makes sure customers are always receiving the lowest possible parcel shipping rates without having to change carriers or service levels.

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Fast 25: The Garrett Cos.

Garrett Cos. builds projects like Runway 19 in Greenwood (south of County Line Road, east of Emerson Avenue), which features 200-plus apartments, courtyards and amenities that include its signature restaurant, the I.C. Brewhouse, and coffee shop, Runway 19 Coffee Co.

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Fast 25: Peterman Brothers

Peterman Brothers has been a Fast 25 company for four years in a row. In addition to its burgeoning customer base in Indianapolis, the heating, air-conditioning and plumbing company also is growing in Muncie, Lafayette, Columbus and Bloomington.

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Fast 25: Remodel Health

Remodel considers itself an insurance/technology company that offers self-funded plans; its clients tend to be faith-based colleges, K-12 private schools, businesses and churches.

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Fast 25: Prolific

Under the Prolific umbrella are three subsidiaries: Conquer, a stand-alone media agency; JDA Worldwide, a stand-alone ad agency; and South Carolina-based Chernoff Newman, which specializes in public relations and issues management.

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Fast 25: Universal Roofing and Exteriors

Universal Roofing and Exteriors does roofing, siding, windows and doors, drywall, painting and insulation, and it also makes repairs related to insurance claims. A couple of years ago, the company purchased Jackson Contracting and now is able to make its own metal for use in siding and other products

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Fast 25: Onyx+East LLC

Onyx+East was founded seven years ago with an initial focus on building housing in the urban core of Indianapolis. Now, CEO and principal Kelli Lawrence said, the company builds high-density housing all across the metro area, as well as in Cincinnati, Columbus, Ohio, and central Florida around Tampa.

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Fast 25: Spot Inc.

In 2011, Spot Inc.—then a 2-year-old company going by Spot Freight—said it expected to reach $30 million in revenue the following year. Ten years later, its revenue was $713 million, which is by far the highest among this year’s Fast 25.

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