Weekend mayors’ conference a ‘coup’ for Indianapolis, leaders say
Indianapolis will host the U.S. Conference of Mayors this weekend for the first time in the group’s 84-year history.
Economic Development
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Report: Indy metro area accounts for 40 percent of state economy
Indianapolis' gross metropolitan product was $130.8 billion in 2015, which ranked it 26th among U.S. metro areas. It's projected to grow 3.6 percent this year and 4.8 percent in 2017.
Ball State study: State too focused on landing ‘footloose’ jobs
Indiana and the nation need to rethink their economic development strategies, which are excessively focused on trying to land large factories—an increasingly difficult task, the report found.
Plan for downtown concert venue on old GM plant site called off
REI Investments, the Carmel-based developer who had been under contract to redevelop about half of the site into a $30 million concert venue, has mutually agreed with owner RACER Trust to terminate the plan.
Japanese manufacturer plans $50M plant, 70 jobs in Indiana
Japan’s largest steel producer announced plans Tuesday to open a subsidiary in Shelbyville in a plant that is expected to be fully operational by spring 2018.
Digital marketing startup Torchlite plans to add 140 workers
The Indianapolis-based firm, which connects client companies to freelancers, inked an incentive deal with the Indiana Economic Development Corp. that will provide up to $2.8 million in tax credits.
Refrigerated-warehousing firm plans $13.6M expansion, 65 new jobs
Merchandise Warehouse said it will build a 90,000-square-foot, 50-foot-tall addition to its food-grade facility at 1414 S. West St.—a move that will boost its capacity by 25 percent.
Michigan company to expand in Indiana, hire up to 147
Spartan Fleet Vehicles and Services announced the plans Tuesday to invest $10.9 million to increase production of walk-in vans, parcel delivery vans, truck bodies and other items.
Lawrance returns to Chamber, to push for more road funding
Mark Lawrance spent 14 years at the Indiana Chamber of Commerce before heading to the Indiana University Public Policy Institute two years ago. Now he’s back at the Chamber in a new role.
Franklin mayor considers coworking space for business owners
The mayor of Franklin wants more entrepreneurs and small, local business owners operating their businesses out of the downtown area near coffee shops and restaurants within walking distance of their offices.
City-County Council approves ‘percent for art’ program
A similar measure was vetoed by former Mayor Greg Ballard last year, but this one is likely to stick.
CEO survey ranks Indiana in nation’s top 5 for business climate
Among 12 Midwestern states, Indiana ranked No. 2 in both workforce quality and living environment, and No. 3 in taxation and regulations—good for a No. 1 ranking overall in the region.
States, cities dishing out fewer tax breaks to companies
The drop comes in the face of a tough new accounting rule that will force governments to release more information about the deals and a presidential campaign that has both sides criticizing “crony capitalism.”
Veteran economic development exec takes Morgan County job
Mike Dellinger has been named executive director of the Morgan County Economic Development Corp.
Sun King seeks $100K tax break on expansion plans
The brewery is embarking on a project that will enable it to nearly double production and begin distributing throughout Indiana.
Maker of Indy mainstay Bar Keepers Friend plans expansion
SerVaas Laboratories Inc. and a related firm have applied for tax breaks on $3.6 million in investment on the expansion and new equipment.
Workforce challenges a drag on aviation, aerospace industries
A surge of people retiring from the fields has created a talent shortage, and recruiting and training enough workers remain vexing challenges for companies, according to executives at an IBJ event Thursday.
Rolls-Royce, Purdue form $33M jet engine research partnership
The company and university will develop and operate research centers in the areas of advanced thermal management systems and compressor systems.
Indiana lauded for transparency on government spending
A top watchdog group placed the state among four that received perfect scores for online access to financial data.
New manufacturer for boating, RVs to take root, hire 198
Indiana Composites, a fledgling maker of fiberglass components for the boating, RV and specialty vehicle markets, plans to buy, renovate and equip a 75,000-square-foot manufacturing facility.