The company said it expects to reduce its annual spending by about $22 million by the end of 2020 as a result, investing about half of that savings into various technology and growth initiatives.
The eight-year-old biotech startup is developing treatments for gastrointestinal disorders, and last year hired a new CEO. It’s unclear how many employees remain in Indiana, or how much longer the company will keep a local office.
Carmel’s proposed film and music festival didn’t receive as much funding as organizers hoped for, but dates are set and a not-for-profit has been formed to run it.
The grocer and the property owner also plan to invest between $5 million and $6 million to update the facade of Brookshire Village Shoppes with a more modern aesthetic.
Projects worth $23 million will upgrade four parks over the next two years, but other improvements might have to wait if local officials can’t identify new ways to pay for parks.
Ann Bingman, director of internal controls for the Carmel Clerk-Treasurer’s Office, will become the city’s controller starting Jan. 1. Carmel Mayor Jim Brainard announced the appointment Monday.
The founders and owners said the restaurant in Carmel’s Arts & Design District will be replaced by a family-owned restaurant that will serve Mediterranean cuisine.
The Carmel City Council this week approved building manager Keystone Realty Group’s application to use the city’s final available new three-way liquor license for a restaurant at 110 W. Main St.
Carmel’s City Council members decided Monday to rework a proposed compromise between early-bird parade enthusiasts and businesses that are tired of dealing with the unintended impacts of their clutter.
New York-based Rob DeRocker, who is paid up to $125,000 a year to promote Carmel, said he’s pushing the movie idea because the city is becoming more telegenic and “movie-genic.”
City officials have long sought to diversify housing options by introducing for-sale condominiums and town houses into a market saturated by hundreds of high-end apartments.
The closure leaves Minnesota-based Granite City with only one Indiana location, in Fort Wayne. The company has struggled with financial problems in recent years, and has shuttered numerous locations in recent months.
Old Town’s sister companies are continuing to develop projects in Carmel, working on a large mixed-use development that will help transform downtown Westfield, and expanding their reach into West Lafayette, where the company is part of a $1 billion project being constructed next to Purdue University’s campus.
