Record number of companies grow Indiana operations
The Indiana Economic Development Corp. said 220 businesses have expanded or started here, and the number could grow before the end of the year.
Economic Development
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Iron ore processor plans $350M Indiana project
A Minnesota-based mining company plans to spend as much as $350 million to build a iron ore pellet plant in Indiana, creating up to 100 jobs by 2015, the company announced Tuesday morning.
Speedway, IndyCar owner names Miles as new CEO
Hulman & Co., which owns Indianapolis Motor Speedway and the IndyCar series, has chosen board member and local economic development leader Mark Miles as its new CEO, the firm announced Tuesday morning.
Indianapolis receives $39M loan guarantee from HUD
The city will use the funding to establish a Community and Economic Loan Pool to provide financing for economic development and housing rehabilitation initiatives to benefit people of low and moderate incomes.
Diagnotes takes top prize in health care challenge
Diagnotes LLC’s On Call software, which delivers patient medical records to smartphones of an on-call doctor, won the inaugural Hoosier Healthcare Innovation Challenge.
LEADING QUESTIONS: Community guru preps new HQ
How did the leader of one of Indy's top neighborhood development groups help save part of the City Market? How did he help spark the Super Bowl legacy project? Any advice for home rehabs? Bill Taft has answers.
Truck-parts supplier expanding in Plainfield, adding 82 jobs
Troy, Mich.-based Meritor Inc., a global supplier of commercial truck parts, said it will consolidate North American remanufacturing operations by moving production from Ontario, Canada, to its facility in Hendricks County.
Local scientific software firm plans to add 63 jobs
Indianapolis-based Indigo Biosystems Inc., a scientific software provider, announced Monday morning that it plans to add 63 jobs by 2015 as part of a $1.4 million expansion.
ADM planning $29M expansion on city’s southeast side
Decatur, Ill.-based ADM Milling Co. is seeking tax incentives related to its plans to construct a six-story building to increase its milling capacity. The expansion will help it retain 53 workers.
Life sciences logistics firm plans to add 108 workers
Indianapolis-based BioStorage Technologies Inc. is planning to add 108 jobs in the next five years as part of a $7 million expansion and is seeking financial incentives from the city for the second time in three years.
State fund invests $600,000 in neutron-detection company
The Indiana’s 21st Century Fund investment will help PartTec Ltd. commercialize its technology. The money will be co-invested with $1.2 million in private funds.
Production of Inc. 500 firms ranks city sixth nationally
The Indianapolis area produced more Inc. 500 companies per person from 2001 to 2010 than all but five other U.S. metro areas with more than 1 million residents, according to a recent study by the Kansas City-based Kauffman Foundation.
Japanese car supplier plans to add 60 workers in Greensburg
Hitachi Powdered Metals (USA) Inc.said it will invest $38.4 million to build and equip a second facility on its 30-acre campus in Decatur County.
MacAllister Machinery expanding in southwest Indiana
Indianapolis-based MacAllister Machinery Co. Inc. said it will spend nearly $9 million to expand its Daviess Count facility and create up to 61 jobs by 2016.
Lilly CEO calls for life sciences research institute
Eli Lilly CEO John Lechleiter on Tuesday called for creation of a “world-class” research institute in Indianapolis to bring together scientists from universities and corporations to develop new medical therapies and companies.
Airport development czar calls aggressive tactics key
Indianapolis Airport Authority has lots of economic development opportunities, despite a difficult industry environment, insists the airport’s new senior director for commercial enterprise, Michael Huber.
Communications firm Metronet plants flag in Indy area
The Evansville company plans to install more than 200 miles of fiber-optic lines in Franklin.
EDITORIAL: City waterways plan awash in promise
It’s invigorating to see the big potential of grass-roots economic development efforts. Take, for example, the Reconnecting to Our Waterways initiative, a mammoth plan to use six waterways in the city to attract investment and improve the neighborhoods that surround them.
Banks eager to loan, but small firms hold back
Indiana banks can tout more success in small-business lending since the recession ended, but the success is hard-won because the masses of entrepreneurs remain cautious about borrowing.
Energy drink maker plans $25M Wabash expansion
Living Essentials, the producer of 5-hour Energy, announced Wednesday it would build and equip a plant in Wabash that could employ up to 200 people.