Indianapolis Business Journal

Anthony Schoettle reports that the long-planned 16 Tech Innovation District along Indiana Avenue has reached a pivotal moment. The first office building in the $500 million project will open in June, which could serve as a catalyst for tremendous growth on the 50-acre campus and elsewhere downtown. Also in this week’s issue, Mickey Shuey takes a close look at the effects so far of the coronavirus epidemic on Indianapolis’ tourism industry. And Lindsey Erdody unpacks the tensions between state lawmakers and Indianapolis officials as the Legislature considers several bills aimed directly the Circle City. Some folks say lawmakers are inserting themselves too far into local affairs.

This week, Kurt Christian takes a close look at the cost overruns for Carmel’s Hotel Carmichael project and whether they’re consistent with rising construction costs industrywide. Experts say material and labor costs have increased by 20 percent or more in recent years, but the 46 percent rise in the Carmichael project’s cost is definitely outside the norm. Also in this week’s issue, Lindsey Erdody reports that Indiana could have a significant role to play in the Democratic primary process. The heated battle for the nomination suggests the state could have a contested primary on May 5, and that could pack a punch for the state’s economy in terms of campaign events, advertisements and staffing. And Susan Orr reports that the city of Indianapolis is looking at whether it can secure $72 million in funding for a long-planned Decatur Township road project that supporters say would spark economic activity along one of the county’s least-developed corridors.

John Russell has a story of dissension in one of central Indiana’s wealthiest neighborhoods. Geist Reservoir is in serious need of regular maintenance to clear out weeds and algae, and more than 1,400 households want the state to approve a special taxing district to pay for it. But others oppose the move, saying the taxes would mostly benefit lakefront property owners, not those who live a few blocks away. Also in this week’s paper, Samm Quinn reveals that the state’s schools for the deaf and blind in Indianapolis will need nearly $100 million in upgrades over the next 20 years, which has spurred officials to consider building new schools on a shared site. But some advocates, lawmakers and alumni worry that the state is motivated by the value of the real estate for the two campuses on the north side, which would be very attractive to developers. And Lindsey Erdody explores scenarios for the outcome of the investigation into a former Indianapolis gambling company and how two casinos planned for Gary and Terre Haute might be affected.

Lindsey Erdody takes a deep dive into the career and influence of Rod Ratcliff, a pivotal figure in Indiana's horse racing and casino industry for more than three decades. And at nearly every turn, Ratcliff or his companies or his associates have run into questions and concerns about the way they interact with the public officials who make the rules associated with the industry. Also in this week's paper, Susan Orr examines the prospects for the site of the Diamond Chain Co. factory downtown. Diamond Chain’s parent company plans to close the 102-year-old facility, which is dead center in the quadrant of downtown including White River State Park, Victory Field, the Indiana Convention Center and Lucas Oil Stadium. And John Russell reveals that the nation's largest retailer of beer, wine and spirits is looking for a foothold in Indianapolis now that the U.S. Supreme Court has ruled that residency requirements for liquor retailers are unconstitutional.

The can’t miss package this week is IBJ’s 28^th annual edition of Forty under 40, featuring the young leaders making names for themselves in central Indiana. From Stacy Atkinson, chancellor of the Richmond campus of Ivy Tech Community College, to Muhammad Yasin, executive vice president of marketing for software firm Perq, the Class of 2020 is especially strong and diverse. Also in this week’s paper, Samm Quinn discusses how the experience of running for Indianapolis mayor has informed the legislative priorities of state Sen. Jim Merritt. He’s filed bills in the current legislative session concerning food deserts and landlord-tenant relationship, and in next year's budget-writing session he plans to tackle roads and crime. And John Russell explores the future of Medicaid in Indiana now that the Trump administration has announced plans to allow states to add eligibility requirements, benefit changes and drug-coverage limits.

If you suspect your smartphone, tablet or digital personal assist is keeping tabs on you and sharing information with marketers, you're not being paranoid. Anthony Schoettle explains how the digital eavesdropping ecosystem works. Also in this week's issue, Susan Orr reports on Gary Brackett's latest underdog pursuit: producing a movie about his life in football. And Samm Quinn investigates the potential for Indianapolis to reuse the massive electric-car-charging infrastructure that Blue Indy is leaving behind.

IUPUI is trying to recruit more minority students, which is part of a nationwide trend among colleges and universities. Samm Quinn reports that it has made the most progress with Latinx students, whose numbers have more than doubled since 2010 while enrollment of black students has plateaued. Also in this week’s issue, John Russell examines how local hospitals are trying to beef up their options for cancer treatment and get an edge in one of the most competitive and high-stakes corners in health care. And Greg Andrews has the latest in the FAA’s investigation of a local private air carrier used by some of Indianapolis’ most prominent executives. The probe is entering its seventh year without any end in sight, which has prompted some of the executives to fight back.

The latest in a series of art installations in Carmel’s roundabouts has reinvigorated debate over how the city buys and locates works for public places. Kurt Christian reports that once city councilor wants to create a community commission that includes residents who would review and make recommendations for pieces. Also in this week’s issue, Samm Quinn examines efforts by Indianapolis officials to address the potential effects of climate change on the city, as well as reduce the city’s impact on the environment. And Lindsey Erdody has our latest annual tally of philanthropic giving in Indiana and analysis of the big gifts. The winner this year was Indiana University, with three of 10 largest donations, and Lindsey has a deep dive into how IU and President Michael McRobbie made it happen.

As IndyGo continues to iron out problems with the Red Line, it’s also considering making big changes to its paratransit service, called open door, for riders with disabilities. Susan Orr reports that the Chicago-based contractor has never met its goals for on-time performance, and IndyGo is now mulling major changes, including reducing its service area or bringing it in-house. Also in this week’s issue, Greg Andrews reports that a decade after an FBI raid shut down a massive Ponzi scheme engineered by Indianapolis businessman Tim Durham, a lawsuit finally is going to trial that could recoup millions of dollars for the fraud victims. And Anthony Schoettle has the story of a recent Purdue student who dug up some long-forgotten technology developed by NASA with expired patents. Ian Hamilton has repurposed that tech to create a revolutionary device that converts heat into electricity with a wide potential for game-changing applications.

The leaders of the Indianapolis Symphony Orchestra have several momentous decisions to make in coming months, in addition to getting the organization back in the black. Lindsey Erdody explains how the ISO is approaching hiring a new concertmaster, beginning the search for a new conductor and negotiating a new contract with musicians—all while trying to avoid a deficit. Also in this week’s issue, Anthony Schoettle has the inside story on the creation of the Indiana 5G Zone—one of two labs of its kind in the country—which will be tasked with developing revolutionary new wireless technology. And Mickey Shuey explores the public-private partnership being finalized to help the city finance a health care and community center in Broad Ripple Park.

There was no shortage of huge news stories in central Indiana this year—with Roger Penske’s purchase of the Indianapolis Motor Speedway, the launch of the Red Line and the closure of trucking giant Celadon. And that's just the top tier of events from 2019 that promise to have lasting impact on central Indiana. Years from now, we'll still be talking about game-changing acquisitions by corporate giants Eli Lilly and Co. and Elanco Animal Health, not to mention the deal cut by state legislators to fund renovations to Bankers Life Fieldhouse and build a soccer stadium for the Indy Eleven. We have an authoritative review of all the year's major business stories in the 2020 Book of Lists, which itself is an invaluable resource for the vital statistics of Indy-area business.

In this week's issue, Lindsey Erdody reports on Gov. Eric Holcomb's decision to continue placing refugees in Indiana and explores what that will mean for the state. The issue also includes a story by Mickey Shuey on the leadership change at the Indianapolis Zoo following CEO Mike Crowther's long, successful run. In addition, John Russell explores what's behind the Lilly Endowment's recent sales of 2 million shares of Eli Lilly and Co. stock.

Several problems conspired to bring down trucking giant Celadon Group on Dec. 9, but one that hasn't received any attention was the clubby executive culture, which included at least five recent graduates of the same small college. Greg Andrews has more on the inner workings of Celadon during its fateful slide. Also in this week’s paper, Kurt Christian takes the measure of a wave of new developments in Fishers along 106^th Street, which was the next logical platform for growth after the large crop of projects that sprung up around Ikea on 116^th Street. And Anthony Schoettle explains how security device maker Allegion is using its North American headquarters in Carmel to speed up innovation. It has created a studio where products can go from concept to market in less than 120.

John Russell examines the success of Zionsville-based BHI Senior Living. That’s the developer of the upscale, 500-unit Hoosier Village campus, which has a long waiting list. BHI is thriving in a tough market for retirement communities. Back in Indianapolis, Democrats on the City-County Council raised some hackles when they proposed more than doubling the base pay for their part-time positions. It’s an easy thing to criticize, but, as Samm Quinn reports this week, the base pay hasn’t changed in more than 30 years, and Indianapolis councilors are underpaid compared to some nearby peer cities. And we have a classic tale of entrepreneurial ingenuity. Sam Stall reports on Fatheadz, which makes plus-sized eyewear. It was started by Indianapolis resident Rico Elmore after he couldn’t find any sunglasses that would fit his generously sized melon.

Residents on the west side were excited last month to hear that the owner of Lafayette Square Mall has put it up for sale. The struggling retail monolith desperately needs a new direction, but where can it go from here? Mickey Shuey explores the most likely options. Also in this week’s paper, Samm Quinn has a revealing interview with Butler University President James Danko, who spent nearly two decades as an entrepreneur and business owner before jumping into higher education. Samm explores how his entrepreneurial mindset has informed his tenure at Butler so far. And Susan Orr reports on an issue near and dear to the hearts of Indianapolis residents: war memorials. This one would recognize veterans of Desert Storm and Desert Shield, and although it would be in Washington D.C., the effort has Hoosier fingerprints all over it.

Mickey Shuey has the latest in the dispute between the city of Indianapolis and developer Ambrose Property Group, which last week filed a lawsuit to prevent the city from seizing the old GM stamping plant site on the southwestern outskirts of downtown. This fight could take years to play out in court, delaying any development at the site. Also in this week’s issue, Lindsey Erdody reports on the progress toward building a permanent music venue in White River State Park. And Samm Quinn explores the ramifications of the Democrats’ near sweep in the Indianapolis city elections. In addition to the mayor’s office, they now have a supermajority on the city-county council.

The new owner of WISH-TV is an Indianapolis native but has earned a national reputation for turning around struggling TV stations. Anthony Schoettle has the story on how DuJuan McCoy plans to recapture lost viewers and return the station to prominence. Also in this week's issue, Mickey Shuey takes a close look at how the Indiana Pacers plan to reconfigure the hospitality offerings in Bankers Life Fieldhouse as part of its massive revamp. The tastes of corporate ticketholders have changed. They’re not as interested in traditional suites and club seating, which is forcing teams to figure out new options for them. And Lindsey Erdody reveals a surprising gender gap in the leadership of Indianapolis not-for-profits. Although a vast majority of not-for-profit employees are female, only 25 percent of the 100 largest not-for-profits in the Indy area have women CEOs, presidents or executive directors.

While the cheers from the IndyCar paddock were loud in the wake of the news that Roger Penske is buying the open wheel racing series and Indianapolis Motor Speedway, that doesn't mean smooth sailing for either property. IndyCar still faces significant obstacles with sponsorship and viewership, and the track could use upgrades to bring it up to speed for modern audiences, Anthony Schoettle reports. Also in this week's issue, Susan Orr digs into problems with IndyGo vendors that are disrupting the Red Line's operations and hurting the transit agency's bottom line. And Mickey Shuey examines how groups that stage large events in convention cities like Indianapolis have reacted to local plans to expand capacity for events and visitors.