Indianapolis Business Journal

Indiana’s economy is on the verge of a high-tech makeover as leaders focus on snagging players in the semiconductor industry and other microelectronics. Unfortunately, few Hoosier workers have much expertise in the field. Cate Charron explores efforts to meet the industry’s workforce needs. Also in this week’s issue, Daniel Bradley digs into a plan for a 260-acre development in Zionsville that could bring 700 new homes to once-rural property. And in IBJ’s Focus section, we have some tips for negotiating raises now that the economy has regained much of its strength.

Fishers is advancing a long-held plan to annex about 1,000 acres along its southeastern border. Daniel Bradley explains the benefits and the costs of adding the land and close to 3,000 residents to the city. Also in this week’s paper, John Russell explores the implications of Eli Lilly and Co. becoming one of a handful of companies worldwide worth at least $1 trillion. And Taylor Wooten has a progress report on the demolition of the crime-ridden Towne & Terrace community on the east side.

This week's issue is packaged with IBJ Media's Indiana 250, the third annual list of the state's most influential business and community leaders. Also in this issue, Susan Orr ha a story about the post-pandemic slump that has hit the trucking industry. One trucking expert called it "unprecedented." Plus, Daniel Bradley has the latest on how rookie Mayor Scott Willis intends to make headway on creating a downtown district in Westfield. Dave Lindquist details what's new and different at Nora Plaza, while John Russell has a Q&A with IU Health officials about the organization's $4.3 billion downtown hospital project. Plus, the latest issue of Forefront explores whether Indiana has the energy resources it needs to fuel a growing economy.

More than 50,000 Catholics from across the United States are set to arrive in Indianapolis next week for the church’s first national gathering in more than 80 years. Mickey Shuey delves into the logistics and purpose of the National Eucharistic Congress. Also in this week's issue: Indianapolis city leaders hope to have a new animal shelter up and running by 2026. Taylor Wooten explains the delays that occurred after Mayor Joe Hogsett announced the original plan two years ago. Also Dave Lindquist details plans for a contemporary art museum in Garfield Park.

A financial firm with central Indiana ties is under investigation by the FBI, which says it suspects the firm’s executives of using investor money to carry out a “long-standing fraud scheme.” Reporter Susan Orr has the details. Also in this week’s IBJ, Daniel Bradley reports on the friction in Sheridan between the Indy area’s suburban growth and the residents who want strict controls on development to preserve the area’s rural feel. And Cate Charron explains how Indiana is beginning to leverage federal funds at its three federally designated technology hubs to accelerate the state’s standing as a high-tech sector and build a stronger workforce.

The deal that will bring three major World Wrestling Entertainment events to Indianapolis over the next year years had its roots in the 2022 College Football Playoff National Championship, which the city hosted. Mickey Shuey has the behind-the-scenes story on the origins of the first-of-its-kind deal for WWE. Also in this week's issue, Susan Orr details a tech-powered initiative to boost Black-owned firms in the city. And IBJ's Focus section provides a primer for ensuring interns have valuable and engaging experiences.

Plans for a $335 million hospital in Westfield are raising questions about why Indianapolis-area health networks are concentrating so intently on Hamilton County. John Russell takes stock of the county’s hospital marketplace and what’s behind the boom. Also in this week’s issue, as technology and other factors transform the accounting industry, some firms are turning to private equity investments to help them keep up with the pace of change. Susan Orr has more on this emerging trend pairing accountants with private equity. And Daniel Bradley explains how Carmel’s Palladium is upgrading its sound system in hopes of luring new and bigger acts to the performance hall.

This week, IBJ unveils the Corporate 100, its annual list of the largest public and private firms in the state, as well as the highest-paid executives. Also in this week’s issue, Mickey Shuey explores possible outcomes for the former Diamond Chain Manufacturing site now that the plan for the $1.5 billion Eleven Park has been thrown into disarray. And Dave Lindquist outlines Indiana’s new “happy hour” law and the hospitality industry’s hope that it will create more interest in after-work drinks.

One hundred years after the U.S. Olympic Swimming Trials were held in Broad Ripple, Indianapolis again will have a major role in assembling America’s team. The nine-day trials start on June 15 at Lucas Oil Stadium, and IBJ has a 32-page guide to the event, the Hoosiers competing for spots on the team and the support from Indy’s corporate community. Also in this week’s paper, Daniel Bradley unpacks Westfield’s 8-year, $186 million infrastructure plan. And Dave Lindquist introduces us to two former chefs from famed brunch spot Milktooth who are striking out on their own with a combined restaurant, bakery and market in Speedway.

The latest edition of IBJ’s annual Innovation Issue explores the Fourth Industrial Revolution—known in business as Industry 4.0—as Indiana companies invest heavily in connected devices, robots, automation and more. Susan Orr reports that much of the current focus is on tying tech adoption and tech training more closely together. Taylor Wooten has a case study in adopting robotics from Indianapolis-based Circle Beverage. Mickey Shuey explains how wearable technology is improving safety and productivity. And John Russell details how Eli Lilly and Co. will use the latest advances in automation at its planned $9 billion campus in Lebanon dedicated to turning out in-demand drugs.

The Health and Hospital Corporation of Marion County will break ground this summer on a multiyear, $170 million facilities improvement plan. Taylor Wooten reports that work includes investment in multiple health care providers in a campus along 38^th Street the city’s east side. Also in this issue, Mickey Shuey digs into the designs of pro soccer stadiums in nearby cities to get a handle on what a new stadium in Indy would offer. And Dave Lindquist explores the popularity of music group tribute acts for bands such as ABBA, Queen and The Beatles, which are popping up with greater frequency on calendars for some local venues.

The Indianapolis Motor Speedway Museum is in the midst of a $64 million overhaul that will help it catch up to the latest standards in education and visitor experience. Mickey Shuey has the inside story on the museum’s first renovation since it opened in 1976. Also in this week’s issue, John Russell gets the lay of the land in Indiana’s booming nuclear medicine sector. And Dave Lindquist details development of the $170 million Fishers Event Center, which will become the home of the Indy Fuel, Fishers Freight and Indy Ignite.

After not featuring an exhibit of chimpanzees in more that 35 years, the Indianapolis Zoo plans to showcase the primates in a big way with a $25 million habitat opening this month with 21 animals. IBJ’s Dave Lindquist details how the zoo is trying to break new ground with the exhibit. Also in this week’s paper, John Russell explains how new federal regulations could affect dozens of toxic coal ash ponds across the state. And Daniel Bradley examines how Fishers officials are changing the admission process for Geist Waterfront Park after the $16 million attraction whiffed on its visitor projections in its first year of operation.

Less than two weeks ago, everything that we had assumed about the future of pro soccer in Indianapolis and the creation of a publicly owned downtown stadium for the Indy Eleven soccer team received a swift kick between the stitches. Mickey Shuey details the city’s shift in strategy and how the Indy Eleven stadium deal fell apart. Also in this week’s issue, John Russell explores the shortages of Eli Lilly and Co’s new diabetes and obesity drugs. And Susan Orr explains how Eleven Fifty Academy is shifting its focus from coding and cybersecurity to artificial intelligence.

Indiana’s strategy for economic development and job creation has emerged as a key issue in the Republican gubernatorial primary—and the future of the state’s still-developing LEAP district in Boone County could be at stake in the outcome. Mickey Shuey details the differing takes on LEAP’s development. Also in this week’s issue, Daniel Bradley reports on a proposal to allow adults to stroll downtown Noblesville with alcoholic drinks. And Dave Lindquist digs into the genesis of the I Made Rock ‘N’ Roll music festival, dedicated to the legacy of Black rock artists.

A pilot program that has sought to put Indianapolis renters on a more even playing field with their landlords in eviction cases faces an uncertain fate with the end of federal COVID-19 funding. Taylor Wooten examines the murky future of one of the few tools city officials have to address Indianapolis’ high-frequency of evictions. Also in this week’s issue, John Russell asks officials at health system Ascension whether its latest round of restructuring will result in the sale or closure of its operations in central Indiana. And Mickey Shuey gauges the pressure facing the downtown office market.

The deal announced this month that landed Indiana its largest-ever capital investment commitment was two years in the making—a journey that saw state and federal officials travel overseas to make the case that Indiana would be the best fit for the $4 billion investment. Mickey Shuey has the inside story behind negotiations with South Korean chip manufacturer SK Hynix. Also in the week’s issue, restaurateur Thomas Main explains the staying power of his highly regarded eatery Tinker Street. And we have all of the honorees in IBJ’s Forty Under 40 Class of 2024, featuring up-and-coming leaders in the business, government and the not-for-profit worlds.

One advantage to breaking up IUPUI and letting Indiana University establish its own campus is that Indianapolis could gain a top-tier research university. Right now, IUPUI is one step below that designation, but IU officials are confident that will change thanks to investments its making in IU Indy and changes in the ranking system. That could mean more funding, more research and more reasons for top faculty to locate in the city, Plus, read the latest on SK Hynix's decision to spend nearly $4 billion to locate a microelectronics plant at Purdue University and about chip packager NHanced's plans for expanding outside Crane Naval Warfare Center and in Bloomington.