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Director leaves small-biz agency: Disagreement over host sponsor helped sway decision

June 27, 2005

The head of the Central Indiana Small Business Development Center resigned this month following a rift over who might host the agency. Mary Jane Gonzalez, who came on board as executive director of the Central Indiana SBDC in July 2003, left to become director of business development at Mezzetta Construction Inc. Gonzalez’s departure leaves the Central Indiana SBDC, where budding entrepreneurs can seek advice without paying high consulting fees, without a leader for the third time in roughly three years….

‘Clean’ manufacturing center seeking cash to survive: General Assembly kills funding for Purdue program

June 27, 2005

The center created by the Legislature to help manufacturers use environmentally friendly materials and production methods is scrambling for cash to keep stamping out solutions. The Indiana Clean Manufacturing Technology & Safe Materials Institute lost its $475,000 annual state subsidy-a little over half its income-amid budget cutting in the last session of the General Assembly. Industry and environmental groups are lamenting the potential scale-back or even closure of the institute if new funding isn’t found by August. “We certainly feel…

Taking the pulse of life sciences: Experts weigh in on whether Indiana is keeping up in the economic development race

June 27, 2005

IBJ: Is Indiana gaining ground against other states in the race to grow as a life sciences hub? What are some specific benchmarks that underscore your opinion? JOHNSON: Indiana is gaining ground, but Indiana already starts on really very substantial ground. There are a lot of outside validations of that and I think it’s important for this audience to hear a couple of them because there is nothing like having people on the outside pay attention to what we’re doing…

VC tax credit rarely used by startups: Less than 17 percent of incentives tapped

June 27, 2005

Last year, Indiana approved tax credits worth nearly $16.3 million to encourage speculation on local high-tech startups. Investors left most of the credits-$13.5 million worth-on the table. The highly touted Indiana Venture Capital Investment tax credit program debuted in January 2004. It allows investors in approved startups to write 20 percent of their outlay off their state taxes. Indiana certified 42 young companies last year as eligible for its venture capital credit. According to the Indiana Economic Development Corp., investors…

EYE ON THE PIE: Our state has twisted priorities

June 20, 2005

No recent column has aroused so much outrage as my remarks concerning our state government’s investment in tourism. I argued that it was a waste of money and that, if such expenditures are to be made, they should come from the private sector exclusively, not from tax dollars. Kaboom! An entire industry wants to educate me, if they cannot eradicate me. At the same time, a worthy landmark is about to disappear. The Randolph County Courthouse, in Winchester, is scheduled…

Med school takes hit: IU trims $5.2 million from budget, cuts 36 positions

June 20, 2005

The school tabled some construction plans and may have to curtail recruiting of “star” faculty in areas such as diabetes research, said Dr. Craig Brater, the school’s dean. On top of that, the school cut 36 positions and halted spending for several programs after it was hit by decreases in state funding and grants, and a rise in expenses. Brater said the medical school has been lucky “in large part” to receive the funding it needed over the years. He…

Franchise program gives veterans a break: Marine Reserve colonel taps VetFran initiative to open lighting business

June 20, 2005

After resorting to a home-equity loan to finance the roughly $100,000 he needed to open an Outdoor Lighting Perspectives franchise, Karl Lundberg still fell short of cash. But, fortunately for Lundberg, a colonel in the U.S. Marine Corps Reserve, the North Carolina-based company honors the Veterans Transition Franchise Initiative, known as VetFran. The program, reintroduced almost three years ago by the International Franchise Association and supported by the Office of Veterans Affairs, gives financial breaks to veterans wanting to purchase…

TAWN PARENT Commentary: This is no time for Hoosier hysteria

June 20, 2005

Some big decisions this spring have not made me particularly proud to be a Hoosier or a resident of Indianapolis. Sure, we got funding for a new stadium and a convention center expansion. That will bring more visitors to our community, and it says we care about sports and tourism. And glory hallelujah! We finally got daylight-saving time, the economic benefits of which are unproven. That says we care about being like everyone else, whether it makes any sense or…

SPORTS: ‘Our’ future extends beyond Marion County line

June 13, 2005

NOBLESVILLE-That Gov. Mitch Daniels, aboard his RV-1, was caught in the daily late-afternoon I-69, State Road 37 traffic snarl and was a half-hour late for his Hamilton County town meeting here last week represented a theme of his presentation. We are no longer a city, but a region. With that in mind, Our Man Mitch has been venturing to the counties contiguous to Marion, pitching the pending 1-percent food and beverage tax that will supply a small-emphasis on small, an…

Seed funding falling short: BioCrossroads to offer $6 million less than originally hoped

June 13, 2005

It’s the Catch-22 of entrepreneurship. Attracting investment money is most difficult during the earliest days, exactly when startups need it most. BioCrossroads hopes to break that tricky cycle with its new $4 million seed-stage venture capital fund, Indiana Seed Fund I. But when fund raising was launched last year, the life sciences initiative aimed for $10 million. At about $250,000 per deal, BioCrossroads can do up to 15 deals-or two dozen fewer than it had intended. “We would certainly have…

Not-for-profit looks for way to continue its operations: Broad support must replace CILC’s sole funding source

May 30, 2005

It was supposed to be short-lived, an agency created solely to help Indiana schools tap emerging videoconferencing technology for distance learning. But a funny thing happened on the way to the virtual field trip. “We found it really wasn’t about the technology. It was about what you do with the technology,” said Ruth Blankenbaker, executive director of the Indianapolis-based Center for Interactive Learning and Collaboration. “If you don’t have a reason to use it, what’s the point?” Teachers had to…

VOICES FROM THE INDUSTRY: What you can do if you’re concerned about your pension

May 30, 2005

Will your company’s traditional pension plan be there when you retire, and what can you do now to prepare for the possibility that it might not be there? The last few years have seen the implosion of several major corporate pension plans, particularly in the airline and steel industries. Hundreds of other companies have reported to the federal government that if their pension plan ended today, they wouldn’t have enough money to pay their future obligations. But there are steps…

Anderson incubator represents ‘beginning’: Officials hope new center will help revive economy

May 30, 2005

Xtreme Alternative Defense Systems LTD is the type of high-tech company Anderson officials are coveting for their new small-business incubator, the Flagship Enterprise Center. Founded in 2002 by Pete Bitar, XADS has a contract with the U.S. Marine Corps to develop a long-range, wireless stun gun, known as the StunStrike system. The patent-pending technology delivers a non-lethal electrical current to disable a human target. The prototypes include a rifle that can fire up to 15 feet and a vehiclemounted unit…

Tech fund set for overhaul: State shifts focus to commercial results; founders fear changes to peer-review process

May 30, 2005

Indiana’s showcase program for new technology development is about to be redesigned. Version 2.0 of the 21st Century Research and Technology Fund will direct more money to entrepreneurs. It will concentrate on projects whose commercial prospects are clear. And as it distributes $75 million of taxpayers’ money over the next two years, it will expect a return on its investments. “The goal is, if a company does well, to get a return for the state,” said Michael S. Maurer, president…

A quiet force: King helped revitalize city behind scenes

May 30, 2005

Coming of age in the 1950s, Tom King thought he’d make a pretty good engineer. “I grew up during what I call the ‘Sputnik Era’. Anybody who was a halfway decent student was going to be an engineer,” says the newly retired president of the Lilly Foundation. “When I saw what engineers did, I discovered I wouldn’t make a very good one.” Instead, King found himself a niche constructing some of the most complex local economic development projects of the…

EYE ON THE PIE: Indiana needs action, not analysis

May 23, 2005

Indiana and other states have economic incentives for businesses. We try to attract new businesses, to keep businesses here, and to encourage existing businesses to expand. Yet we do not feel sufficiently successful. Often, we are told that our failing is the inadequate development of entrepreneurial firms. The guys and gals with bright ideas just don’t get going in Indiana. Does our culture stifle creativity and the innovative spirit? Do our institutions make us docile and repress our flowering potential?…

NOTIONS: An idyllic day dressed in ‘Blue Velvet’

May 23, 2005

Years ago, my wife and I registered our sons, Austin and Zach, for the Bank One 500 Festival Rookie Run. In what became an annual tradition, we’d drive the boys downtown early on the appointed Saturday in May, pick up their T-shirts and racing numbers, and wait for their age group to be called. At the appointed hour, Austin and Zach would line up with scores of other kids, run a few blocks up and back Meridian Street, and receive…

HIGHER (cost of) EDUCATION: Students’ college burden continues to rise in Indiana

May 23, 2005

With state funding flat and operating expenses rising, Indiana’s public universities are turning to a familiar source to make up the difference-students. Tuition and mandatory fees at state institutions are set to climb an average of 5 percent next school year and higher in 2006-2007, if proposed rates stand. That’s a far cry from the double-digit increases most universities imposed just a few years ago, but observers say it’s worrisome nonetheless. “Tuition has been rising at twice the rate of…

VOICES FROM THE INDUSTRY: Vibrant city can be built without oceans, mountains

May 23, 2005

In late April and early May, two things happened. The Legislature adjourned on time and Forbes magazine released its seventh annual list of the best (and worst) metro areas to develop businesses and careers. Forbes based its ranking on business costs, living costs, education levels of the work force, qualityof-life issues as well as job and income growth and migration patterns. Indianapolis ranked 33rd out of 150 of the country’s largest metro areas, and there’s some good news in that…

Foyt’s tough transition: Legendary driver struggles as racing owner

May 23, 2005

Foyt with a wrench. It’s an iconic image dating back to the 1960s, when the brash, hott e m p e r e d racer started forging his image as one of the world’s best drivers. A wrench gripped by Foyt’s rugged hands is still the image that best characterizes the legendary Texan. But in an era of high-tech diagnostics and sponsor-driven economics, it’s no longer a winning image. “There are certain athletes, racing drivers and personalities that have unusual…

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People

Susie Ripley

Articles

Director leaves small-biz agency: Disagreement over host sponsor helped sway decision

‘Clean’ manufacturing center seeking cash to survive: General Assembly kills funding for Purdue program

Taking the pulse of life sciences: Experts weigh in on whether Indiana is keeping up in the economic development race

VC tax credit rarely used by startups: Less than 17 percent of incentives tapped

EYE ON THE PIE: Our state has twisted priorities

Med school takes hit: IU trims $5.2 million from budget, cuts 36 positions

Franchise program gives veterans a break: Marine Reserve colonel taps VetFran initiative to open lighting business

TAWN PARENT Commentary: This is no time for Hoosier hysteria

SPORTS: ‘Our’ future extends beyond Marion County line

Seed funding falling short: BioCrossroads to offer $6 million less than originally hoped

Not-for-profit looks for way to continue its operations: Broad support must replace CILC’s sole funding source

VOICES FROM THE INDUSTRY: What you can do if you’re concerned about your pension

Anderson incubator represents ‘beginning’: Officials hope new center will help revive economy

Tech fund set for overhaul: State shifts focus to commercial results; founders fear changes to peer-review process

A quiet force: King helped revitalize city behind scenes

EYE ON THE PIE: Indiana needs action, not analysis

NOTIONS: An idyllic day dressed in ‘Blue Velvet’

HIGHER (cost of) EDUCATION: Students’ college burden continues to rise in Indiana

VOICES FROM THE INDUSTRY: Vibrant city can be built without oceans, mountains

Foyt’s tough transition: Legendary driver struggles as racing owner