New neighborhood investment fund targets areas around 16 Tech Innovation District
The 16 Tech Community Investment Fund is seeded with $3 million and plans to issue up to $1 million in grants in 2020.
Economic Development
Articles
Kentucky using billboards to lure Illinois companies
One sign will target Illinois’ regulations for being “insane” and one uses the first three letters in the word “Illinois” to claim that the state’s tax system is “ill.”
Four local development projects picked to receive $35M in incentive funds
Indianapolis Mayor Joe Hogsett said Tuesday that the city intends to use New Markets Tax Credits from the U.S. Department of the Treasury to support development projects involving the Madam Walker Legacy Center, the Wheeler Mission Center for Women and Children and two other groups.
Tech distribution giant Ingram Micro opens Plainfield facility, plans 151 jobs
The facility will offer a range of technology disposition services, including data erasure and drive destruction, processing, remarketing and recycling.
Surgical transplant firm sets up logistics center in Plainfield, plans to hire 127
The Virginia-based firm said Tuesday it has invested $18 million to set up a 70,000-square-foot biologics logistics center near the Indianapolis International Airport. It is currently hiring managers and technicians.
High-tech mobility company plans lab, 50 high-paying jobs in Westfield
Aptive Plc, a mobility tech company formerly known as Delphi Automotive, plans to open a $9 million engineering lab in Westfield, the city announced Monday night.
GFS plans $160M local distribution facility, hundreds of jobs
Gordon Food Service plans to hire and train more than 200 workers for the distribution center at hourly wages of $20 to $25 an hour before the facility opens in late 2021. Longer term, employment at the facility is expected to be much greater.
Ambrose is mum, but experts say it likely ran into financing problems for $1.4B Waterside
Real estate developers and experts suspect the firm couldn’t get access to enough capital to move forward with the massive, 103-acre development. Opinions are mixed on whether the site should remain intact or be split into multiple projects.
Biz leaders say focus on neighborhoods results in more significant impact
Cummins isn’t alone in its neighborhood approach. Multiple Indianapolis companies are choosing to focus their philanthropy on a particular neighborhood as a way to make a greater impact.
Michael Kaltenmark: Working to enhance the vitality of Midtown, 38th Street
Through a Butler University program dubbed Bulldogs into The Streets—or BITS—more than 1,250 volunteers who contribute 3,750 hours worth nearly $100,000 descend on the school’s neighborhood for projects.
Q&A: JPMorgan Chase’s Owen Washburn on boosting inclusive growth
Washburn oversees the company foundation’s grant-making strategy for Indianapolis as well as for Chicago, Minneapolis, St. Paul and Toronto. That means he’s looking for opportunities to translate the foundation’s larger goals into programs and strategies in those local communities.
Governor undeterred by trade war as he prepares to travel to China
Gov. Eric Holcomb is leaving for China on Sunday for a two-week-long Asian trade mission, convinced he can boost business relationships even though the Trump administration is embroiled in a trade war with that nation.
Honda spending $4.2M, adding 34 jobs to produce hybrid CR-V in Greensburg
The CR-V Hybrid will be introduced in early 2020 and will be the company’s first electrified sport-utility vehicle in the United States. It is part of Honda’s larger plan to apply its two-motor, hybrid-electric system to all of its core U.S. models in the coming years.
Q&A with Chad Halstead, an Opportunity Zone adviser
For the past 12 years, Chad Halstead, 39, has helped land government incentives for some of the area’s biggest real estate developments.
Call-center operator to open Midwest hub, hire 350 in Fishers
Sitel Group, one of the world’s largest call-center management companies, said it plans to spend $4 million to open a Midwest customer service hub in Fishers.
Indiana governor concludes trip to Japan, South Korea
Gov. Eric Holcomb spent Tuesday in Tokyo where his meetings included time with executives from Subaru and Honda, both of which have major auto assembly plants in Indiana.
Steel dust recycling project on brownfield site dropped amid opposition
The canceled development was a joint venture between Indianapolis-based Heritage Environmental and Monterrey, Mexico-based Zinc Nacional, which had said the project planned for the site of a former BorgWarner automotive factory would have created up to 90 jobs over several years.
Economic diversity index puts Pennsylvania first, Indiana next to last
Bloomberg analyzed the contribution to gross domestic product by industry and government in all 50 states to create the diversity index. Indiana’s GDP is most dependent on manufacturing and least dependent on government.
City to tie incentives to $18-an-hour pay
Starting Jan. 1, Develop Indy will change the way it awards millions of dollars in tax abatements and training grants annually. Only businesses that pay workers at least $18 an hour, give them access to health care benefits and support other community programs will be eligible.
Steel Dynamics planning to build $1.9B plant, hire 600
Fort Wayne-based Steel Dynamics Inc. said the electric arc-furnace unit will be in Sinton, Texas, about 25 miles northwest of Corpus Christi.