Young, other lawmakers from Indiana urge U.S. to give SK Hynix funding from CHIPS act
SK Hynix is planning to build a $3.87 billion semiconductor packaging facility at the Purdue Research Park in West Lafayette.
Economic Development
Articles
IEDC announces $27.1B in pledged investments so far in 2024
This year-to-date total investment figure nearly eclipses last year’s total, which was a record of $28.7 billion.
IEDC receives state approval for $88M in additional LEAP district funding
The Indiana Economic Development Corp. received the financial greenlight Tuesday afternoon to buy 1,400 more acres of land in Boone County for the LEAP Lebanon Innovation District and make more infrastructure improvements.
IEDC seeks to purchase 2,500 more acres in Boone County for LEAP project
The IEDC is asking the state committee to allow it to redirect $88 million that had been approved for a previous project and use it to acquire more land and make infrastructure improvements in the LEAP Lebanon Innovation District.
Central Indiana mayors say regionalism critical to growth, workforce retention
The Indy Chamber hosted 10 mayors from the area Wednesday to discuss economic development at its State of the Region event at the Indianapolis Motor Speedway.
New report finds economic impact of $23M-plus for Carmel Christkindlmarkt
Attendance for the 2023 market was estimated at 475,000 and the market supported more than 150 jobs.
Microsoft planning $1B data center in Indiana
The 245,000-square-foot facility, to be located on nearly 500 acres in the Radius Industrial Park, is expected to create up to 200 jobs by the end of 2032.
Toyota officials break ground on new $100M Indiana forklift facility
The 295,000-square-foot facility will expand Toyota’s Bartholomew County headquarters and will specialize in electric forklift production.
Lilly to invest another $5.3B in Lebanon site to meet overwhelming demand for Mounjaro, Zepbound
Lilly said the new investment will allow it to hire 200 more workers at the complex, including engineers, scientists, and lab technicians, for a total of 900 full-time workers when it is fully operational.
Carmel City Council to have control over park impact fees
Park impact fees will now be deposited into an impact fee fund designated by the Carmel City Council, and park impact fee credits provided as a bargaining chip to developers will need to be approved by council members.
Indiana, Elevate Ventures launching $100M growth-stage fund
The new fund, called the Elevate Ventures Growth fund, will be aimed at companies with a $500 million or greater total addressable market.
Indiana to host its second Global Economic Summit
Far-off dignitaries and business leaders will gather in Indianapolis this week for the state’s second Global Economic Summit, which begins Thursday.
Elevate Ventures moving HQ to prominent downtown building
Elevate Ventures, which occupies a 6,000-square-foot office on the north side of Indianapolis, will relocate to a much larger space at 1 Virginia Ave. within the next few months.
Sports Tech HQ initiative lands $4.5M in state funding
The goal of Sports Tech HQ is to build Indiana’s sports technology sector, in part by luring startups here and helping them connect with the state’s existing sports ecosystem.
Billionaire hoping to ‘move the needle’ on Indy Eleven’s battle with Hogsett administration
Fort Wayne businessman Chuck Surack could give the Indy Eleven access to millions more in capital and new lines of credit, but the mayor’s office is expected to continue its own strategy for landing a Major League Soccer team.
Indy Democratic caucus to meet privately with soccer executive Tom Glick
The members are set to meet behind closed doors Wednesday with the man behind Mayor Joe Hogsett’s effort to score a Major League Soccer franchise.
Indiana life sciences companies raised $5.5B in 2023, new report says
A report issued Monday by BioCrossroads says Indiana life sciences companies saw a decrease in capital and investments last year, but made a significantly higher contribution to the state’s economy than they did the previous year.
With Indy’s soccer future in balance, city to go all-in on MLS
The April 25 announcement that the city is pursuing a Major League Soccer franchise followed more than three months of secret phone calls, emails and other interactions between city leaders, MLS officials and a longtime soccer executive named Tom Glick.
How the city’s negotiations with Keystone over Diamond Chain site broke down
City officials say the decision to walk away from the Eleven Park development was in taxpayers’ best interest. But the Keystone Group says the move was driven by misplaced ambitions and a lack of interest in discussing specifics of the project’s finances.
Indy Autonomous Challenge set to return to IMS with other high-tech programs
The competition between self-driving race cars, featuring 10 university teams from around the world, also will include chances for spectators to interact with drones, robots, augmented and virtual reality and generative artificial intelligence.