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Brown County’s economic development commission has started an incubator for arts-related startups in the county seat of Nashville. The Arts Industry New Business Incubator will have room for six arts-oriented companies, according to the Brown County Democrat. Possibilities include businesses involved in publishing, licensing, auctions, graphic arts and entertainment. Other targeted businesses are involved in […]
Biomet’s $11.4 billion acquisition by a group of private-equity firms has been accepted by shareholders, the Warsaw prosthetics company said today. More than 91 percent of shares voted were in favor of the deal with The Blackstone Group, Goldman, Sachs & Co., Kohlberg Kravis Roberts & Co. and TPG. Closing is expected this month.
Economic activity in the Chicago region expanded modestly in July and August, the Federal Reserve Bank said today in its Beige Book report. The report, which is issued eight times a year based on interviews and other means of gathering information on economic trends, said manufacturing expanded at a slower pace, household lending declined and […]
Indianapolis-based Centaur Inc. said today that the Pennsylvania Harness Racing Commission has approved its building and operating a $428 million harness racing facility near Pittsburgh. The project still must be approved by the Pennsylvania Gaming Control Board. Valley View Downs would have 150 live racing days on a 1-mile oval track and 363 days of […]
So many real estate deals are crumbling that prices for commercial real estate could fall 15 percent in the coming year, which would create the biggest decline since 2001, according to Bloomberg. Property owners are being forced to put off sales or accept lower prices as the cost of borrowing rises. “People aren’t willing to […]
Former U.S. Attorney Susan W. Brooks will be senior vice president of work-force and economic development in addition to her new duties as general counsel at Ivy Tech Community College, Ivy Tech said today. Brooks, a deputy mayor under former Indianapolis Mayor Steve Goldsmith prior to being named U.S. attorney, takes over economic development duties […]
The foundations and garage slabs are in place for the next phase of Lockerbie Park, but construction is on hold for now. The project at College and Michigan streets has not sold…
The president of the Yorktown town council said yesterday that many sources tell him Indianapolis-based Clarian Health Partners plans to develop a 100-acre site at the southwest corner of Nebo Road and State Road 332, west of Muncie. Steve Lowry’s confirmation is the first to be made officially, according to The Star-Press of Muncie. The […]
Indianapolis-based Dow AgroSciences has signed an agreement with Exelixis Plant Sciences to speed Dow AgroSciences’ ability to find genes that control traits in corn and other crops. Assets purchased include a library of patents and patent applications, laboratory equipment, software and a greenhouse in Woodburn, Ore. Terms of the deal were not released. Exelixis is […]
Ongoing manufacturing layoffs have resulted in Fort Wayne being stung worse than 14 other Midwestern cities, an Indiana University-Purdue University Fort Wayne study shows. Fort Wayne wages increased just 7.9 percent between 2001 and 2005, the lowest among Dayton, Ohio; Rockford, Ill., and other cities studied, according to Greater Fort Wayne Business Weekly. Earnings for […]
At the top of a lunch-time retail roundup: Downtown’s Bearno’s Pizza has closed and will be replaced by Flagstar Bank. A sign on the door says to look for Bearno’s elsewhere in…
Two former WellPoint Inc. executives have joined Indianapolis-based Medical Animatics LLC as chairwoman and vice chairwoman of the health care education company’s board after becoming angel investors in May. Jane Niederberger, Medical Animatics’ chairwoman, had been vice president and general manager of operations for WellPoint’s central region. Barbara Kew had been vice president of information […]
Nestle Waters North American Inc. plans to build a $32 million water bottling plant in Greenwood, reports the Daily Journal of Johnson County. The 294,388-square-foot plant would employ 64 workers who would make an average annual salary of $33,000. Nestle Waters is a unit of the Swiss tea, coffee and chocolate company that is building […]
Middlebury-based Pilgrim International Inc., which was acquired by private equity firm Monomoy Capital Partners LP in July, will not be merged with Washington-based Western Recreational Vehicles Inc., which also is owned by Monomoy Capital. The private equity firm had said it would merge the two travel recreational vehicle companies. No reason was given for changing […]
The Indiana Department of Transportation tentatively has chosen an engineering design firm out of San Francisco to conduct a feasibility study of developing a commuter rail system that would connect Muncie to Bloomington. Stops along with way would include Anderson, Noblesville, Fishers and Indianapolis. A report by CRS Corp. could be out in about a […]
Hopes for a quick decision on who will redevelop the Market Square Arena site are quickly fading. City officials had promised a decision by July at the latest, but the political climate…
David Marsh’s legal battle with Marsh Supermarkets Inc. was so contentious that it seemed the parties never would make peace. But that’s what just happened, and both sides are keeping the terms of their deal under wraps. Court records show David Marsh and the company his grandfather founded reached a settlement in late August, after weeks of discussions. To be sure, David Marsh-the former president of Marsh Supermarkets who now serves as president of the locally based Crystal Flash convenience-store…
Would you sell a piece of history? Let’s just say, for the purposes of this discussion, that you were in possession of a piece of history with a generally healthy market value-an 1884 Carson City $20 gold coin, for example. written notes from the Gettysburg Address. Or, say, the baseball that Barry Bonds hit to break Hank Aaron’s homerun record. Would you sell it? I wondered about this recently when I read that Matt Murphy, the fan who caught the…
Buildings, just like people, have lives. They’re born, they do their jobs, they take on new roles and, after about 75 years, most of them reach the end. Sadly, some beautiful ones die too soon, while a few ugly ones live too long. How should we decide when to save a building or when to tear it down? And have the reasons changed? The terms of renovation are well-known (adaptive re-use, mixed-use development and historic preservation). When our actions meet…
Two of the city’s largest and most visible construction projects so far have committed roughly $300 million in contracts to minority and women business owners-a healthy sum that has the owners meeting most of their obligations. The $1.1 billion midfield terminal at the Indianapolis International Airport and the $700 million Lucas Oil Stadium are on pace to be finished the second half of 2008. All told, that’s roughly $1.8 billion in construction contracts that ultimately will be awarded. With 80…
