Senate OKs Indianapolis Motor Speedway funding plan
A plan providing up to $100 million in state funding toward improvements at the Indianapolis Motor Speedway has won approval from the Indiana Senate.
Economic Development
Articles
Ballard: Don’t measure trade missions by new jobs
About to embark on his eighth trade mission since 2008, Indianapolis Mayor Greg Ballard is committed to keeping up the city’s international profile, regardless of whether that results in a major economic-development deal.
Tax break would barely put dent in Speedway’s to-do list
The Indianapolis Motor Speedway will need far more money than it will get from a proposed state tax subsidy if it hopes to be in the top tier of U.S. racing venues, sports business experts said.
Greensburg auto-parts plant plans expansion, 200-plus hires
Automotive supplier Valeo expects to invest $15.5 million in new machinery for its Greensburg facility as part of its plans to expand operations in the plant and bring more than 200 workers onto the company payroll by 2014.
Struggling Greenwood biotech firm finds buyer
Elona Biotechnologies Inc., which has been struggling to repay Greenwood for more than $8 million in economic development incentives, says it has solution to its financial problems.
Local tool supplier plans to expand, add 20 jobs
Indianapolis-based Hahn Systems LLC said it will add 20 jobs by 2016 as part of a $900,000 expansion that includes purchasing and equipping a 27,000-square-foot facility.
State halts backing for foreign-owned fertilizer plant
Indiana officials are withholding state backing for a Posey County fertilizer plant over concerns whether its Pakistan-based owners are doing enough at its overseas operations to keep the potentially explosive material from being used against U.S. troops.
Renamed Carmel financing firm planning big growth
Dealer Services Corp. in Carmel has begun operating as NextGear Capital after being acquired by Atlanta-based Manheim Inc. NextGear plans to relocate in the next month and double its employment, to 450, in the next year.
Indiana pulls support for proposed fertilizer plant
State officials have suspended their support for a proposed southwestern Indiana fertilizer plant while they investigate a Pakistani company involved in the project.
Indy Partnership names new executive director
Marty Vanags, CEO of the Bloomington-Normal Economic Development Council in Illinois, will start work March 1 at The Indy Partnership.
Health care startups hungry for funds
Frustrated by up-and-down state funding for startup life sciences companies, industry leaders are talking up a plan to create a dedicated funding stream that could total $30 million a year.
Division of Carmel firm plans 300 jobs in Fort Wayne
Accelerated Tanks and Trailers, a division of a Carmel-based company, plans to open a Fort Wayne manufacturing plant that could bring about 300 new jobs to northeast Indiana by 2016.
Life sciences consultancy plans to expand, add 38 jobs
Indianapolis-based Pearl Pathways, founded by two former Eli Lilly employees, plans to move into new space in March and add the jobs by 2016.
Bill to make IEDC more transparent moves to full senate
The Indiana Senate Tax and Fiscal Policy Committee unanimously passed legislation Tuesday meant to makes the state’s job-creation efforts more open to the general public.
Greenwood seeks funds back from drugmaker with big plans
Greenwood-based Elona Biotechnologies Inc., which has been trying to bring a generic version of insulin to market, was declared in default on $8.4 million in incentives from the city of Greenwood.
Shape of ‘jobs budget’ depends on the state
The proposals of Indiana Gov. Mike Pence and Maryland Gov. Martin O’Malley epitomize the reality of the Red State and Blue State philosophy of just what a ‘jobs budget’ looks like.
Celadon receives incentives for $5.2M driving training center
The Indianapolis-based trucking carrier plans to build a $5.25 million driver-training center and add 182 jobs as part of its latest expansion at its east-side corporate campus.
Sun King brewery lands tax breaks for expansion
The downtown brewery plans to spend $2.1 million on additional equipment and add 20 jobs by 2016 in exchange for a tax abatement from the city.
Indy chamber names economic development exec
An Austin, Texas, economic development manager with Indiana roots will soon be in charge of bringing new businesses to Indianapolis.
Super Bowl guru now looking to score Olympic gold for Indy
The Indiana Sports Corp. is making a bold bid to host the 2016 U.S. Olympic Swimming Trials inside the cavernous Lucas Oil Stadium. And that's just the beginning of the ambitious plans the organization's new CEO is drawing up.