State hires firm specializing in ‘crisis and transformation’ to audit IEDC
Gov. Mike Braun announced the audit last month, citing potential “impropriety” at the IEDC. He also announced a freeze of all state funds associated with Elevate Ventures.
Economic Development
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IU LAB announces accelerator partnerships with Gener8tor, Plug and Play
In addition, IU LAB announced that its accelerator programs will now be called IU Health Incubator at IU LAB, thanks to a $4.5 million, three-year sponsorship deal with IU Health.
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Cadillac F1 team plans to employ 300 people at new HQ in Fishers
The $200 million, 400,000-square-foot Cadillac F1 facility is under construction near Indianapolis Metropolitan Airport.
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Logistics provider planning 415-job expansion in Lebanon
Supply-chain giant GXO Logistics is planning to spend $11.7 million to grow operations at a massive facility where it handles returns for Nike Inc.
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Eli Lilly to spend $27B on four new manufacturing sites
The new manufacturing sites are expected to create create 3,000 pharmaceutical jobs and nearly 10,000 construction positions during the buildout.
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Articles
For sale: IEDC land purchased for LEAP project, but never used
After buying thousands of acres in Boone County to develop a technology park, the Indiana Economic Development Corp. quietly listed two properties for sale a month ago.
Businesses that rely on Chinese imports express relief, anxiety over tariff pause
The news about the agreement between the United States and China sent the stock market and the value of the dollar soaring.
Hoosier business executives say to voice tariff concerns, find alternative trade pathways
Representatives from Eli Lilly, Cook Medical and other Hoosier businesses gave advice about tariffs during the Indiana District Export Council’s annual trade and business conference Thursday at Newfields.
Rally innovation conference to continue as planned, likely without state support
Rally innovation conference creator Elevate Ventures says Rally will take place as planned this year, but organizers are not counting on financial support from the Indiana Economic Development Corp.
SK Hynix project wins key zoning approval after community uproar extends meeting until morning
The South Korean chip maker’s proposed $3.87 billion manufacturing campus in Indiana is still on track after the West Lafayette City Council approved the request following a 7-hour public meeting.
Washington to host 2027 NFL Draft, likely on National Mall
An estimated 600,000 fans attended last month’s three-day draft in Green Bay, Wisconsin. Indianapolis is among the cities hoping to host the draft in upcoming years.
Braun signs bill to create IEDC land-purchase guardrails, new state business office
The bipartisan bill requires the IEDC to be more transparent when it makes large land purchases for major projects like the massive LEAP business park in Boone County.
New nonstop flight to Ireland takes off from Indianapolis this weekend
The nonstop route between Indianapolis International Airport and Dublin, Ireland, offers travelers a direct line to one of Indiana’s largest trade partners.
Braun: State investigating possible ‘impropriety’ at IEDC, freezing venture capital funds
The actions stem from growing concerns over how the state conducts economic development activities, how much it spends on those activities and how transparent it is about its business.
Lawmakers slash state economic development funding by 25% in budget compromise
The new budget proposal provides more funding for operations and business-promotion support for the Indiana Economic Development Corp., but cuts five funds and programs totaling $35 million.
Braun arranging for independent IEDC audit amid transparency concerns
Gov. Mike Braun told IBJ on Tuesday that his office was finalizing the details of an independent audit of the state’s economic development agency: “Hoosier taxpayers deserve clear accountability for how their dollars are spent.”
Roche picks Indiana for new plant, expanded operations as part of $50B investment in United States
Roche said Indiana would receive a new manufacturing facility for continuous glucose monitoring and expansion and upgrades at existing pharmaceutical, diagnostics and distribution operations.
Despite CHIPS Act uncertainty, semiconductor industry insiders remain hopeful
President Donald Trump has spoken out against the CHIPS Act, meant to incentivize semiconductor-related development in the U.S., but industry insiders say they’re optimistic the initiative will survive.
Braun: Morales’ India economic development trip falls outside secretary of state’s responsibilities
Secretary of State Diego Morales said the trip was privately funded, but his office did declined to tell IBJ who paid for the trip.
Purdue University launches business accelerator program
The program for Purdue-connected companies offers the university a way to rekindle or establish the startup founders’ Indiana ties.
Bill creating transparency measures for Indiana economic development agency heads to House floor
Critics of the Indiana Economic Development Corp., which receives hundreds of millions in tax dollars each year, have wondered whether the agency has been transparent and fiscally responsible enough.
Indy leaders planning global conference on sports
TEDSports is expected to draw up to 1,000 executives, educators and trendsetters from across the globe Sept. 9-11.
Johnson & Johnson plans $55B in United States investments
Aside from building four new plants, Johnson & Johnson said that it will expand several existing sites.
Developer seeking to build large-scale Indianapolis data center
If fully developed, the 468-acre data center complex would have up to four buildings and 400 employees making annual salaries of about $100,000.