Indianapolis Business Journal

Simon Property Group is getting a leg up on the emerging trend of online-only retailers moving into brick-and-mortar stores, a strategy that analysts say could have a big payoff for the Indianapolis-based shopping mall giant as it looks to develop new tenants. Mickey Shuey has more on its partnership with Chicago-based Leap Services. Also in this week’s issue, Peter Blanchard has a preview of the 2023 Indiana Legislature and its four-month, budget-writing session. And Dave Lindquist connects with media mogul Jeff Smulyan about his new book, a career retrospective titled “Never Ride a Roller Coaster Upside Down.”

West-side business leaders had high hopes that the IndyGo rapid-transit line slated for Washington Street would usher in a wave of economic development and improved infrastructure. Now that the line has been partially rerouted, Taylor Wooten reports, local leaders fear they’ve missed out on a once-in-a generation opportunity. Also in this week’s paper, John Russell has the story of a diabetes medication that Eli Lilly and Co. abandoned 12 years ago that since has ben resurrected by another pharma firm and has become one of the hottest new drugs on the market. And Susan Orr reports on an effort at Purdue University to train policymakers, diplomats and more on the ethics of technology.

Shorthanded veterinary clinics are being slammed by the high number of pets acquired during the pandemic and a worsening shortage of workers, from support staff to veterinarians themselves. Taylor Wooten has the problematic prognosis for pet doctors. Also in this week's issue, Pete Blanchard explains how former Indiana Senate budget hawk Luke Kenley has become the leading proponent for boosting public health spending. And Daniel Bradley examines the shortage in affordable and workforce housing in Boone County as its population soars and local employers search for workers.

Indiana is at a critical juncture that demands practical strategies to help businesses find skilled employees, remove barriers for entry for workers and provide students with skills they’ll need to secure high-paying jobs. Peter Blanchard has more findings—plus the proposed solutions—from a report just released by the Governor’s Workforce Cabinet. Also in this week’s issue, Mickey Shuey reports on the exits of some retail tenants at Nora Plaza as its new owner, Kite Realty Group Trust, plans to revamp its offerings. And Dave Lindquist has the home-grown success story of Luciana’s Mexican Restaurant and Cantina, which has gone from one location to five in seven years, with a sixth on the way.

Nashville, Tennessee—a fellow NFL city that also has positioned its downtown for tourism—is on the brink of building a new football stadium downtown with a covered roof. Mickey Shuey tries to gauge the potential impact on Indianapolis of having a tougher competitor for some of the city’s bread-and-butter conventions and events business. Also in this week’s edition, Dave Lindquist reports on efforts to rescue an important chunk of Garfield Park’s history as a commerce center. And Susan Orr has the details from a legal tussle between members of an Indianapolis-based wealth management team and the international firm they departed to join a competitor.

Noblesville leaders expect a stretch of undeveloped agricultural land on the city’s southeast side to become Hamilton County’s next epicenter of innovation. Daniel Bradley has the details on Innovation Mile, 300- to 400-acre master-planned district where city planners hope to attract companies in the medical, tech, biosciences, pharmaceutical and advanced manufacturing sectors. Also in this week’s issue, John Russell delves into a trend sweeping the senior living industry: providing fewer services to residents, including doing away with daily meals and transportation, which can lower rent but also alienate residents who have relied on such services. And Susan Orr examines how IU researchers are developing virtual reality tools to aid in the treatment of substance abuse.

A large team of public officials and private partners is engaged in a high-stakes battle to land a big chunk of federal funding to establish northwest Indiana as one of a handful of hydrogen hubs planned around the country. IBJ’s Susan Orr explains why the most common element represents a major boon for the state. Also in this week’s issue, John Russell explains how an Indianapolis health equipment firm is trying to overhaul the way brain surgeons do their job. And we present the winner of this year’s Michael Carroll Award: Allison Melangton, who most folks know from running the Indianapolis host committee for the 2012 Super Bowl but who also has made major contributions across Indianapolis’ sports organizations for nearly 40 years.

Peter Blanchard reports that state officials are exploring the idea of tapping into the aquifer along the Wabash River in Tippecanoe County to meet the water demands of a new innovation district planned for Boone County. Experts say the concept is feasible, but execution would be very expensive. Also in this week’s issue, Dave Lindquist sheds light on the eclectic music venue and art space Healer that’s beginning to shed its reputation as one of the city’s best-kept secrets. And John Russell explains how the IU School of Medicine is using mouse brains to try to solve the riddle of Alzheimer’s disease.

Motorsports teams are expanding in central Indiana, not just to participate in IndyCar but other series as well. Three teams have announced a total of $250 million in investments, led by Andretti Autosport, which will build a $200 million global headquarters in Fishers. Plus, reporter Peter Blanchard takes a look at the secretary of state's race and why Democrats think they have a shot of winning their first statewide race in a decade. This week's issue also features our inaugural HR Impact award winners and Forefront, with plenty of pre-election analysis.

A growing number of elected officials, lobbyists and casino operators are pushing Indiana and other states to allow brick-and-mortar casinos to host interactive online gambling. Peter Blanchard looks at iGaming’s chances. Also in this week’s issue, John Russell reports on the fight between AES Indiana and customer groups over who will shoulder the $41.5 million related to a power outage at the Eagle Valley power plant in Martinsville. And Dave Lindquist has an in-depth interview with the new CEO of Newfields about the institution’s new emphasis on equity and serving all of city’s communities.

Indianapolis-based Point BioPharma Global is in an uncomfortable spot. While it has raised hundreds of millions of dollars to develop its pipeline of specialty drugs that target cancer, it’s still spending tens of millions of dollars a year trying to get its lead drug through trials and approved by the FDA. John Russell explains why another share offering recently spooked investors. Also in this week’s issue, Peter Blanchard takes a close look at Indiana’s U.S. Senate race between Republican incumbent Todd Young and Democrat Tom McDermott. And Susan Orr explains how Indianapolis is playing a key role in a Mexican company’s plans to disrupt the shrimp farming industry.

Peter Blanchard examines the conservative backlash in Indiana over what is known as ESG investing and whether state government and its pensions funds should entertain factors such as environmental and social concerns when investing. Taylor Wooten asks what’s next for the IndyRents program, which during the pandemic spent nearly $34 million in federal funds to help local residents cover lease payments. And Dave Lindquist explores the plans of media firm Urban One now that it owns the eight radio stations in the Indianapolis market.

Duke Realty Corp. was founded in Indianapolis in 1972 and became one of the biggest real estate investment trusts in the Midwest. In June, it entered into a $26 billion merger agreement that will make it a small part of a West Coast-based developer. Mickey Shuey documents the last days of Duke Realty. Also in this week’s issue, John Russell charts the escalating tensions between emergency room physicians and insurance companies over reimbursement rates. And Dave Lindquist reports on the effort to boost businesses southeast of downtown by creating a new label for the area: Fountain Fletcher.

A year after many of Indiana’s large corporations and health system began firing employees who didn’t get COVID-19 vaccines, the lawsuits are beginning to pile up. John Russell reports on the continuing split over mandatory vaccinations. Also in this week’s issue, Taylor Wooten explains why the city of Indianapolis is struggling with a big staffing shortage, with nearly one-fifth of its positions unfilled. And Dave Lindquist has a ditty about two music competitions with great international reputations that are trying to raise their profiles in their home city of Indianapolis.

The owner of the Indy Eleven soccer team says he’s confident his plans for a new stadium downtown won’t hinge on asking for more state tax dollars than he already has been promised. But, as Mickey Shuey reports, the potential cost of the project has increased since the Legislature agreed three years ago to help fund it. Also in this week’s issue, Peter Blanchard reports on an effort from mayors in central Indiana to receive what they think is a more equitable amount of state funding for roadwork. And Taylor Wooten reports that the Hoosier Environmental Council has joined some west Indianapolis residents in opposing a proposed wastewater treatment plant.

A provision in the $280 billion CHIPS and Science Act authorizes $10 billion to create 20 tech hubs across the nation—three of which should be in the Midwest and in areas not already known as leading tech centers. Peter Blanchard explores Indiana’s chances for getting on the list. Also in this week’s issue, Dave Lindquist outlines how artist Lobyn Hamilton is investing in an east-side neighborhood and creating living and studio spaces for other artists. And Daniel Bradley reports on the effort to save trees and other aesthetic features in Westfield and Noblesville as Duke Energy plans a new substation and two transmission lines to serve growing power needs in the communities.

Reporters Susan Orr and Taylor Wooten take a deep dive into the recently announced plans to split IUPUI into an urban campus for Indiana University and an independent satellite location for Purdue University. Local business and tech-industry leaders say they see the effort as a chance to boost the available workforce for local companies, downtown’s roster of research institutions and the region’s economy as a whole. Also in this week’s issue, Peter Blanchard gives us a sense of what to expect from the state committee studying marijuana and potentially ways to regulate it for legal use. And Dave Lindquist examines a new approach to philanthropy taking hold in central Indiana that focuses on collaborating with the communities that foundations seek to help.

Eight years after the Ballard administration prepared to completely rebuild the streets on Monument Circle—work that never commenced—Mayor Joe Hogsett’s team is dusting off the plans and strategizing how to turn the project into reality. IBJ’s Mickey Shuey discusses the potential roadblocks. Also in this week’s issue, Daniel Bradley shines a light on the new Motor District Garage Condos, which you could describe as high-end man caves where car collectors can store and commune with their vehicles. And Susan Orr reports that banks in Indiana have begun bulking up their loan reserves as a precaution against a potential recession.