Splenda manufacturer eyes $91M in upgrades to Indianapolis operations
Carmel-based Heartland Food Products Group plans to construct a new building and add the newly acquired Splenda brand to its product manufacturing operations in Indianapolis.
Economic Development Incentives
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The Chicago Bears, Indiana and the math behind NFL stadium deals
Professional sports experts say past NFL stadium deals might offer Indiana lawmakers a few clues to what a Lake County deal could mean for both the team and the state.
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IBJ Podcast: Could a tax credit upgrade help make Indiana a film and media hub?
Neighboring states offer much greater incentives to movie and TV producers than Indiana. And filmmakers aren’t entirely sold on modest and narrowly focused improvements under consideration by lawmakers.
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IBJ Podcast: With billions at stake, hyperscale data centers become charged issue in Indiana
The sudden surge in announced centers—representing more than $15 billion in potential investment—has generated a lot of concern about their drain on Indiana utilities and, in some cases, their water-intensive cooling systems.
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California-based med tech company to relocate to Westfield
PhysioLogic Devices Inc. will change its name to Portal Diabetes Inc. following the company’s move. It plans to employ up to 35 full-time employees by 2028 with an average salary of $135,265 each.
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Articles
IEDC board gives staff more authority, rethinks embattled foundation’s dissolution
Gov Mike Braun is reexamining his previous desire to “wind down” the Indiana Economic Development Foundation, saying Wednesday he sees a future for the nonprofit booster group.
Indiana positions itself to attract Bears as Braun prepares for second State of the State address
The governor is expected to address the Bears situation during his speech Wednesday night, although the Governor’s Office is keeping specifics—and the names of the guests it has invited to the event—under wraps.
Arrow McLaren seeking tax breaks on $30M headquarters project
Arrow McLaren expects to make a total investment of $30 million in its new home at 7615 Zionsville Road and is seeking city and state incentives to help reduce the cost of the project.
IEDC board approves incentives for four planned data center projects
The Indiana Economic Development Corp. estimates that the data center incentives are worth an estimated $168 million in total tax savings for the combined projects over the next 35 years.
Indiana’s tech hub projects still on track despite federal uncertainty, conference panelist says
Indiana’s three planned technology hubs—for which the state has been selected for up to $350 million in federal funding—are still in the works despite ongoing uncertainties on the federal level, according to the Indiana organization coordinating work on all three projects.
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.
Braun orders state-affiliated nonprofits to produce missed transparency reports
The Governor’s Office singled out the Indiana Economic Development Foundation, which supports IEDC travel and business-attraction efforts, for failing to produce years of transparency reports.
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.
Indianapolis-based startup Pillar acquired by fellow HR tech company
Pillar, which launched out of High Alpha in 2021, offers a platform employers can use to help evaluate job candidates during the interview process.
Despite building concerns, IEDC transparency bills died without hearings. Why?
Lawmakers’ unease with the Indiana Economic Development Corp. culminated in at least four transparency-focused bills this session—all filed by Republicans—seeking to add more guardrails.
Indiana has the juice to fuel surge in data centers
When it comes to large-scale data center activity, the Hoosier state has gone from what feels like zero to 60 in a little over a year.
Bill seeks to boost Indiana tourism projects through tax rebates, special districts
Under House Bill 1223, the Indiana Destination Development Corp. could soon have a few new tools to incentivize tourism development.
UPDATE: Meta’s planned $800M investment in Lebanon could lead to $4.8B, mayor says
The Lebanon City Council on Monday night approved the creation of a tax-increment financing district and performance-based incentives to try to secure a deal with the parent of Facebook and Instagram.
Colorado business seeks tax abatement on Pike Township battery storage project
The proposed battery farm would store electricity during times when there’s excess power on the grid and then discharge the energy back into the grid during times of peak demand.
Indianapolis aviation companies plan significant expansions
Dabico A-Bridge LLC and its parent company, Dabico Airport Solutions LLC, plan to expand their Indianapolis facilities and add another 151 jobs by the end of next year.
Zionsville-based tech startup Adverank plans to add 37 employees
Zionsville-based software startup Adverank has reached an incentives agreement with the state based on its expansion plan.
SK Hynix lands $450M in federal CHIPS Act funding for Indiana facility
The funding is in addition to the $700 million the company will receive through an incentive agreement with the Indiana Economic Development Corp.—one of the the largest economic development deals in Indiana history.
Texas-based developer abandons Old Meridian Apartments project in Carmel
Old Meridian Apartments, a $60 million proposed project by Cross Development LLC, was called off because the city’s incentive for the project was not enough to make it feasible for the developer.
Indianapolis-based IT firm plans major expansion, adopts new name
Indianapolis-based information technology firm Sondhi Solutions has rebranded as Exos Cos. and plans to add 250 new employees by the end of 2028.