Indianapolis Business Journal

This week's issue features IBJ's Forty Under 40 class of 2025, with profiles of some of the region's up-and-coming leaders and a catch-up interview with Maureen Weber, a Forty Under 40 honoree in 2020 whom IBJ named Alumni of the Year for 2025. Reporter Susan Orr takes a look at how upheaval at the federal Food and Drug Administration is creating uncertainty for some Indiana companies, and Mickey Shuey writes about how the Caitlin Clark and off-season moves by the Indiana Fever are driving up ticket demand—and prices.

Old National Bank is working on a first-of-its-kind effort: the launch of an Indianapolis-based bank whose target customers are minorities and those underserved by traditional banks. Susan Orr reports on its progress so far. Also in this week’s issue, Daniel Bradley follows up on the still-unrealized plans by grocery chain Hy-Vee to open stores in Zionsville and Fishers, more than three years after they were announced. And Derek Schultz runs us through the $60.5 million overhaul of the Indianapolis Motor Speedway Museum.

There’s a method to the madness that is the NCAA Division I men’s basketball tournament, and it relies on the collective efforts of thousands of NCAA and university staffers, contractors, local organizers, venue workers and volunteers. Mickey Shuey takes us step by step through the process, including Indianapolis’ hosting gig for the Midwest Regional. Also in this week’s issue, Susan Orr explains how companies are quietly changing the way they talk about diversity—if not outright cutting back on DEI efforts. And Taylor Wooten details how local housing providers are preparing for potential cuts to the U.S. Department of Housing and Urban Development.

Indianapolis-based Prolific—a marketing, strategy and investment firm with many connections to Israel—has set its sights on attracting mor Israeli companies to Indiana. Susan Orr examines the ways that Indiana and Israel are closer than their geographic distance would suggest. Also in this week’s issue, Taylor Wooten has the results of a report that investigated how well township trustees in Marion County were dispersing financial aid designated to help vulnerable residents. And Mickey Shuey explicates the latest question related to Mayor Joe Hogsett’s drive to establish a Major League Soccer team in Indianapolis: Would it be a brand new team, or a team that moves from another city?

The new Cadillac Formula One team that will be headquartered in Fishers could bring with it more high-tech companies to take root in the city that has made the business of technology a focus for more than a decade. Also in this week’s paper, Susan Orr details dozens of lawsuits filed against a pair of brothers involving more than 200 residential properties around Indianapolis. And Daniel Bradley explains how Noblesville officials are trying to make the city’s downtown more pedestrian-friendly.

Daniel Lee reports on the progress made by Eli Lilly and Co. in selling its blockbuster weight-loss drug Zepbound directly to consumers. Daniel also has a front-page story about educational nonprofit Christel House International making its first major plans for global expansion since the death of its founder in 2020. And Daniel Bradley examines the surge of indoor golf facilities in the Indianapolis area and how it relates to an upswing in popularity for the sport.  

Mayor Joe Hogsett’s campaign to establish a Major League Soccer team in Indianapolis took a big step forward this week with the stamp of approval from Gov. Mike Braun and continued evidence that the Simon family is involved. Mickey Shuey reports on sentiment from insiders an sports business experts that the Simons could provide the credibility and at least some of the cash needed to get a deal done. Also in this week’s issue: Dave Lindquist explains how the owner of downtown’s new InterContinental Hotel is using unique visual art to establish the property’s local bona fides. And Cate Charron has your guide to the organizational chart in Braun’s fledgling administration.

Potential rollbacks of Biden-era policies that incentivized electric vehicle production and ownership have stirred apprehension among economic development officials across the state. IBJ’s Mickey Shuey reports on where things stand for billions of dollars in Indiana projects for electric vehicle and battery manufacturers. Also in this week’s issue, Daniel Lee takes stock of the headwinds blowing against Indianapolis-based health insurance giant Elevance Health, including the challenge of meeting Wall Street expectations while criticism of insurer profits grows louder. And Dave Lindquist has the story on the latest album by Rev. Peyton’s Big Damn Band, which is finding old-school success with a firm grip on the modern music industry.

IBJ's front page is dedicated to the issue of tariffs this week. Reporter Daniel Lee focuses on how Indiana could be affected—which industries are most vulnerable, what business leaders are saying about the impacts and what companies are most likely to find opportunities in the changes. Reporters also talked with three Indiana companies—Konrady Plastics in Portage, Hard Truth Distilling in Nashville and StagUSA Services in Anderson—to get more specifics about the impacts of President Donald Trump's trade policies. IBJ also talked with entrepreneur Brian Schutt, a co-owner of Homesense Heating & Cooling, about tariffs. Also, in this week's issue are stories about the financial problems and lawsuits that mean the WonderRoad music festival won't be staged again this year and the city of Carmel's initial thoughts about remaking the U.S. 31 office corridor.

The rising price of eggs has come to symbolize inflation at the supermarket, but the runup is due in large part to avian influenza—or bird flu. Taylor Wooten explains how Indianapolis-area brunch restaurants are dealing with price increases for one of their staples. Also in this week’s issue, Mickey Shuey digs deeper into the plans for a $78 million practice facility downtown for the Indiana Fever. And Daniel Bradley explains how the next phase of development for Grand Park Sports Campus—a new sports, entertainment and business district—is an example of the kind of economic development that Grand Park’s founders had envisioned as a byproduct of the project.

Leaders for the fast-growing town of Cumberland, a suburban enclave that straddles the line between Marion and Hancock counties, want to separate from Indianapolis government. Taylor Wooten explains the circumstances. Also in this week’s issue, Susan Orr explains why Indiana has become an attractive market for large-scale data centers run by tech giants such as Amazon, Google, Meta and Microsoft. And Dave Lindquist pulls up a chair with Travis Moore, owner of Black Orchid Barbers, to get the story behind the local chain’s growth to five shops, with more in the wings.

Hancock Health has expanded its reach beyond health care over the last seven years to become a master developer of a 160-acre medical, retail and housing project in western Hancock County. Mickey Shuey details the evolution of Hancock Gateway Park. Also in this week’s issue, Daniel Bradley examines the influx of out-of-state investment firms buying single-family homes in central Indiana—and how cities are seeking limits on single-family rentals. And Daniel Lee has the story of a Carmel firm that has launched an AI-powered app that provides mental health services.

From the outside looking in, Indianapolis Mayor Joe Hogsett’s pursuit of a major League Soccer club seems to have come to a standstill, although several parcels in and near the area earmarked for the arena have changed hands. Mickey Shuey brings us up to date on recent developments and the long list of hurdles that remain. Also in this week’s issue, Greg Weaver explores the why Indiana law firms prioritize lobbying as a necessary service for clints. And Daniel Lee has our annual compendium of Indiana-based philanthropic giving, topped by a $150 million gift to a university and listing more than 50 other donations around the state of $1 million or more.

IBJ arts reporter Dave Lindquist talked with Newfields’ latest CEO, who is bringing a financial background to the leadership of an organization that has struggled to find its footing after a stumble involving race several years ago. Reporter Susan Orr writes about the increasing demand for financial advisers, despite the online tools available to investors in the digital age. And North of 96th reporter Daniel Bradley writes about why developers and local government official increasingly see town houses as a solution to housing woes.

Indianapolis Mayor Joe Hogsett made curbside recycling a priority in his first term. But it looks likely that he'll leave office before the service ever begins. IBJ's Taylor Wooten explains the latest delay in a page 1A story. Plus, Dave Lindquist details 10 arts and entertainment programs, performances, books and more to look forward to in 2015. Also, read a Q&A with Catherine Esselman, who talks about her work filling unused spaces with new, interesting tenants.

IBJ's The Book—an annual publication packed with industry lists, year-in-review stories and IBJ's honorees for 2024—arrives with this week's print issue of IBJ. Online, you'll find our 2024 newsmakers, led by Newsmaker of the Year Caitlin Clark, who led the Indiana Fever and WNBA to unprecedented popularity. The year's biggest stories included economic development news, campaign results and more.

After a stunning 703% run-up in price over the past five yars, shares of Eli Lilly and Co. have been on a roller-coaster ride since September. John Russell explores the uncertainty that has cooled investors' ardor. Also in this week's issue, Cate Charron outlines Gov. Eric Holcomb's legacy as an economic development deal broker for Indiana. And Dave Lindquist profiles the latest project from restaurateur Thomas Main: Carmel-based Freeland's at North End.

President-elect Donald Trump’s pledge to impose tariffs on goods from Canada and Mexico has caught the attention of Indiana companies, which stand to experience a significant impact if new or expanded tariffs are imposed. Susan Orr outlines their areas of concern, which include motor vehicle parts, other manufacturing materials and food products. Also in this week’s issue, Mickey Shuey digs into the backlash that greeted plans to redevelop a rundown east-side retail center into an apartment complex. And Daniel Bradley features the owners of Noblesville institution Adrienes Flowers & Gifts, which is closing after 46 years.