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2022 Newsmaker: Elanco intends to make new HQ ‘epicenter of animal health innovation’

December 30, 2022 | John Russell

On paper, it’s a global headquarters project—a $100 million campus for Elanco Animal Health on the former General Motors stamping plant site just west of downtown. But CEO Jeff Simmons is hoping it will become much more.

Southwest didn’t heed calls to upgrade tech before meltdown, unions say

December 29, 2022 | The Washington Post

Southwest Airlines’ overwhelmed technology—a scenario fueled by a punishing winter storm—left it this week facing some of the most difficult days in its half-century history.

Southwest Airlines flight cancellations continue to snowball

December 28, 2022 | Associated Press

Exhausted Southwest Airlines travelers tried finding seats on other airlines or renting cars to get to their destination, but many remained stranded. The airline’s CEO said it could be next week before the flight schedule returns to normal.

Southwest draws regulatory scrutiny as thousands more flights canceled

December 27, 2022 | The Washington Post

More than 3,000 U.S. flights were canceled Tuesday among all carriers, with Southwest accounting for more than 2,600 of the total—a problem the airline blamed partly on tools for tracking and creating employee schedules.

Stadium construction manager with Indy ties pays $1.9M over minority hiring

December 23, 2022 | Associated Press

Construction of the 9,500-seat, $160 million stadium in Worcester was managed by Gilbane/Hunt, a joint venture of Gilbane Building Co. of Providence, Rhode Island, and Aecom Hunt Construction Group Inc. of Indianapolis.

Storm adds uncertainty to strong holiday travel demand

December 21, 2022 | Associated Press

Forecasters predict an onslaught of heavy snow, ice, flooding and even tornadoes from Thursday to Saturday in a broad swath of the country, from the Plains and Midwest to the East Coast.

Ball State lands $7.5M to support plan for new performing arts center

December 17, 2022 | Inside INdiana Business staff and IBJ Staff

The two gifts totaling $7.5 million from longtime supporters will be put toward development and construction of a performing arts center proposed for The Village, a business and culture district adjacent to campus.

Mark Montieth: Indiana Basketball Hall of Fame to be expanded

December 16, 2022 | Mark Montieth

Construction has begun on an expansion that will add 6,600 square feet to the facility, with 2,600 of that devoted to museum space.

Downtown heliport expected to remain open at least through February

December 16, 2022 | Mickey Shuey

The Indianapolis Airport Authority said it hopes to receive tentative approval to decommission the facility at 51 S. New Jersey St. by the end of February. It is working with the Federal Aviation Administration to secure the designation, which is crucial for future redevelopment of the site.

Fed raises key rate by half-point, signals more hikes to come

December 14, 2022 | Associated Press

Consistent with a sharp slowdown, Fed officials projected that the economy will barely grow next year, expanding just 0.5%, less than half the forecast it had made in September.

Fed set to extend inflation fight with 7th rate hike of 2022

December 14, 2022 | Associated Press

The six rate hikes the Fed has already imposed this year have raised its key short-term rate to a range of 3.75% to 4%, its highest level in 15 years.

Key inflation gauge sees smallest monthly rise in more than year

December 13, 2022 | Bloomberg News

The report, the last of 2022, points to inflation that—while much too high—is beginning to ease.

Diminished U.S. workforce could lead Fed to keep interest rates high

December 12, 2022 | Associated Press

In a recent speech, Federal Reserve Chair Jerome Powell pointed to the shortfall of workers and the resulting rise in average pay as the primary remaining driver of the price spikes that continue to grip the economy.

Pace of wholesale inflation in U.S. shows 5th straight slowdown

December 9, 2022 | Associated Press

The latest year-over-year figure was down from 8% in October and from a recent peak of 11.7% in March.

CIB approves another $50M in funding for growing Pan Am Plaza project costs

December 9, 2022 | Mickey Shuey

The additional financial support will come from the Capital Improvement Board’s fund balance, which was bolstered in October with $50 million in revenue replacement funds through the federal American Rescue Plan Act.

Dora submits plans for Tru by Hilton hotel along U.S. 31 in Carmel

December 8, 2022 | Daniel Bradley

The Fishers-based hotel developer and manager and Indianapolis-based American Structurepoint filed plans to build a five-story, 126-room hotel on 1.13 acres at 12164 N. Meridian Street.

MDC approves $25M in extra funding for Pan Am Plaza redevelopment

December 7, 2022 | Mickey Shuey

The approval allocates $25 million from the city’s downtown tax-increment financing district to pay for the acquisition of the basement level of the project from developer Kite Realty Group Trust, which plans to build an 800-room hotel and an addition to the Indiana Convention Center.

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