Consolidation up for consideration for state education agencies
On Tuesday, an interim committee of lawmakers discussed potentially consolidating the state board of education, governor’s workforce cabinet, and Commission for Higher Education.
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IU School of Medicine lands $36M grant to develop Alzheimer’s disease treatments
The grant, to be paid over five years, will help the IU School of Medicine launch a drug discovery center as part of a strategic partnership with the Purdue Institute for Drug Discovery at Purdue University.
U.S. manufacturing sector falls into deeper recession
September marked the worst month for U.S. manufacturing in more than a decade—since June 2009—according to the closely watched Institute for Supply Management’s Manufacturing Index.
Buttigieg pitches himself to moderates as the Biden alternative
Despite raising a staggering $51 million for his presidential campaign in 2019, South Bend Mayor Pete Buttigieg has been stuck in fourth place, between 5% and 7% in national polls. Part of that is because he’s hard to define.
Local software startup lands $10M in seed funding, moves HQ to California
Edify Labs Inc., a contact-center software firm founded in Carmel a year ago, announced Tuesday that it has raised $10 million in seed funding in one of the largest funding rounds of its type this year.
School district revives defunct Marsh store as nifty preschool
Shelbyville Central Schools bought the property and spent $13 million on a wholesale renovation and redesign to accommodate hundreds of children.
Cleveland-based firm buys Indy fiber network, plans $38M expansion
Cleveland-based Everstream Solutions LLC announced Tuesday that it has agreed to buy a 200-plus-mile Indianapolis-based fiber network from Dallas-based DataBank Ltd. and quadruple the network’s size. The service area will expand to cover Indianapolis and parts of Hamilton County.
Private equity firm to buy Carmel-based Orchard Software, fund growth
Founded in 1993, Orchard has grown to become the seventh-largest software development firm in the Indianapolis area, with 275 employees and $40 million in revenue for 2018.
Sanders pushes tax on companies where CEOs earn far more than workers
Under Sen. Bernie Sanders’ plan, the government would increase a firm’s corporate tax rate if its highest-paid employee earns more than 50 times what its average worker does—an attempt to encourage companies to distribute their profits more equitably.
Markets cap turbulent third quarter with positive end
U.S. stocks climbed Monday and gave one last nudge to ensure the Standard & Poor’s 500 emerged from yet another tumultuous quarter with a modest gain.
Elanco to reduce global workforce by 4.3%
The company is eliminating 250 jobs as part of a restructuring that’s expected to result in at least $12 million in savings in 2020.
Plans for King Cole Building call for $21M redevelopment, Motto hotel
Indy Propco LLC, which has owned the 11-story building at 1 N. Meridian St. since January, wants to turn the property into a Motto by Hilton that would have at least 116 rooms, according to plans recently filed with the Indianapolis Historic Preservation Commission.
Marion County halts prosecutions for simple marijuana possession
The policy shift is meant to free up resources to focus on violent crime in Indianapolis. More serious marijuana offenses involving more than one ounce of pot will still be prosecuted.
Auto-auction giant KAR rebrands to reflect global scope
The rebranding of the company coincides with the debut of its new, $80 million headquarters in Carmel.
Indy Chamber endorses Hogsett in mayoral race
The Indy Chamber has endorsed Democractic incumbent Joe Hogsett in this year’s mayoral election, but also praised Republican challenger Jim Merritt for his work in the Indiana General Assembly.
California to let college athletes make money, defying NCAA
California will let college athletes hire agents and make money from endorsements, defying the Indianapolis-based NCAA and setting up a likely legal challenge that could reshape amateur sports in the United States.
Kenzie Academy raises $7.8M in venture capital
The tech apprenticeship and coding school said it plans to use the cash infusion to help it expand its tech-focused educational offerings and grow its enrollment nationally and in Indianapolis.
IBJ Podcast: This vice principal’s ‘barbershop’ helps turn boys into men
Fred Yeakey at Providence Chriso Rey High School in Indianapolis has found a way to encourage high school boys to let their hair down while he helps shape the way they see opportunities.
Forever 21 fashion chain files for Chapter 11 bankruptcy
Indianapolis-based Simon Property Group counts Forever 21 as its sixth-largest mall tenant, excluding department stores, with 99 outlets covering 1.5 million square feet, as of March 3.
Indiana election upgrade still leaves widespread use paperless voting
Security experts have urged for adoption across the country of paper-based voting systems, saying they are less vulnerable to manipulation and election workers can use those records to audit results.