Illinois lawmakers under gun over CME tax breaks
Lawmakers in Illinois, where major employers are threatening to leave the state if their tax burden isn’t reduced, return to Springfield on Monday to consider what they probably can’t afford to do.
Economic Development Incentives
Articles
City calls off Haverstick, Redcats tax incentives
Two Indianapolis companies that received tax-abatement agreements from the city in 2007 have had the incentives canceled for failing to meet investment and employment goals.
Carmel also likely competing for CME Group
A letter from Carmel Mayor Jim Brainard to a company that fits the Chicago Mercantile Exchange’s description says the Indianapolis suburb is prepared to offer $150 million in incentives in return for 1,700 high-paying jobs.
Rolls-Royce tax-incentives deal set for hearing
A plan to offer a 10-year tax abatement worth $23 million for Rolls-Royce Corp. to redevelop two plants on the west side and move thousands of office workers into downtown’s Faris campus is scheduled for an initial hearing Wednesday.
Food company closing in Indiana has unpaid bills
An organic food company that is closing its eastern Indiana preparation center was offered up to $3.5 million in state tax credits to open its plant, but it owes more than $31,000 in property taxes and sewer bills.
SEC accuses Positron CEO of misleading investors
Regulators allege CEO Patrick G. Rooney diverted millions of dollars from a hedge fund into the struggling Fishers company without investors’ knowledge.
Packaging company plans to add 63 jobs in Lawrenceburg
Toronto-based IntraPac said it will move operations from New Jersey to the southeastern Indiana town and build an 80,000-square-foot plant that should open in February.
Stonegate Mortgage plans to add 45 workers in ’11
The Indianapolis-based firm has pledged to add a total of 300 workers by 2015.
Logistics company plans 315 jobs in North Vernon
Exegistics, a Wheeling, Ill.-based logistics service provider, said Monday it plans to spend about $9 million to build a rail-sided distribution facility in North Vernon, creating up to 315 jobs by the end of 2014.
Auto supplier plans to add 100 jobs in Logansport
Federal-Mogul Corp. said it will add the jobs next year as part of a $2.7 million expansion to purchase new machinery and equipment for its 170,000-square-foot manufacturing plant and 15,000-square-foot technical center.
Heartland Sweeteners plans $10M upgrade to Indy plant
Heartland Sweeteners LLC plans to spend nearly $10 million to upgrade its Indianapolis plant and potentially boost its work force there by 39 employees in the next five years.
Guitar Center seeks abatement for new call center
The company plans to hire 246 employees to staff a call center on the northwest side of Indianapolis after announcing in August that it would close its call center in South Bend and move operations here.
Unproven entrepreneur promises 1,100 local jobs
A West Hollywood businessman hopes to build hundreds of trucks outfitted with giant video screens. The product is unproven and so is Bob Yanagihara, the ambitious 50-year-old behind it.
Indiana making hay from Illinois’ tax mayhem
Many Illinois firms are serious about moving or expanding out of state—and Indiana economic development officials are racing to capitalize.
Manufacturer to beef up Frankfort operations, adding 160 jobs
LEP Special Fasteners Inc. will relocate parts of its management, sales and distribution functions from Elgin, Ill., and expand its current manufacturing plant in Frankfort by 250,000 square feet.
Printing manufacturer to expand in Tipton, create 35 jobs
Bottcher America Corp. will invest $2.1 million to purchase new gear and create a 30,000-square-foot addition to its current facilities.
Furniture manufacturer plans expansion, 120 more jobs
Goshen-based Wieland Designs Inc. said it will add the jobs by 2015 as part of a $1 million investment to improve existing facilities and purchase specialized machinery to enhance production.
Auto parts maker plans to add 100 jobs in Columbus
Sunright America Inc., a Japanese manufacturer of automotive fasteners, plans to nearly double its current space in Columbus and add the 100 jobs by 2014.
Incentives flow to tech firm Positron, despite red ink
The molecular-imaging company is trying to transition its business model and get beyond a going-concern warning.
IBM adds 175 jobs at Delaware County call center
The new employees are located at the company’s Heartland Business Center in Daleville, where IBM already has about 500 employees.