State hires firm specializing in ‘crisis and transformation’ to audit IEDC
Gov. Mike Braun announced the audit last month, citing potential “impropriety” at the IEDC. He also announced a freeze of all state funds associated with Elevate Ventures.
Government & Economic Development
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Commerce secretary wants to turn the IEDC inside out
In some ways, social media platforms are unlike traditional media platforms, such as radio and television. In other ways, they are very similar.
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IBJ Podcast: With billions at stake, hyperscale data centers become charged issue in Indiana
The sudden surge in announced centers—representing more than $15 billion in potential investment—has generated a lot of concern about their drain on Indiana utilities and, in some cases, their water-intensive cooling systems.
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Indianapolis won’t begin universal curbside recycling until 2028
In November, a Department of Public Works staffer revealed to the Board of Public Works in a public meeting that the Hogsett administration is now planning for a rollout three years later than the original target.
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Noblesville to begin assessing S.R. 37 interchange options
The state and the city of Noblesville are setting the stage to overhaul four intersections along a 2-mile stretch: at Greenfield Avenue, Town and Country Boulevard, Pleasant Street and State Road 32/38.
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Articles
Hoosier business executives say to voice tariff concerns, find alternative trade pathways
Representatives from Eli Lilly, Cook Medical and other Hoosier businesses gave advice about tariffs during the Indiana District Export Council’s annual trade and business conference Thursday at Newfields.
U.S. Sen. Todd Young partners on bipartisan bill to jumpstart domestic shipbuilding industry
Young, R-Indiana, and fellow Sen. Mark Kelly, D-Arizona, reintroduced legislation to jumpstart the country’s “rusted” shipbuilding industry and increase onshore ship production that has largely shifted to China.
SK Hynix project wins key zoning approval after community uproar extends meeting until morning
The South Korean chip maker’s proposed $3.87 billion manufacturing campus in Indiana is still on track after the West Lafayette City Council approved the request following a 7-hour public meeting.
Fire departments paying more for trucks that take longer to get
Cities and their fire departments are feeling the strain as post-pandemic wait times and costs for new fire trucks have shot up—due in part to industry consolidation.
Legislative session was mixed bag for business
Business owners can expect some tax relief and a new state small business office, but the Indiana Economic Development Corp. will have less money for some of its operations and programs under the next two-year budget.
Braun signs bill to create IEDC land-purchase guardrails, new state business office
The bipartisan bill requires the IEDC to be more transparent when it makes large land purchases for major projects like the massive LEAP business park in Boone County.
Pricing legislation shows health reform complexities
Indiana lawmakers discovered this legislative session that performing major financial surgery on multibillion-dollar nonprofit hospital systems is a motley and entangled task.
Small retailers fear a lack of resources, time to ride out tariff results
Retailers across the Indianapolis area and across the country are bracing for the full impact of recent Trump administration tariffs, which they see as an immediate threat to their businesses.
Braun: State investigating possible ‘impropriety’ at IEDC, freezing venture capital funds
The actions stem from growing concerns over how the state conducts economic development activities, how much it spends on those activities and how transparent it is about its business.
Lawmakers slash state economic development funding by 25% in budget compromise
The new budget proposal provides more funding for operations and business-promotion support for the Indiana Economic Development Corp., but cuts five funds and programs totaling $35 million.
Braun arranging for independent IEDC audit amid transparency concerns
Gov. Mike Braun told IBJ on Tuesday that his office was finalizing the details of an independent audit of the state’s economic development agency: “Hoosier taxpayers deserve clear accountability for how their dollars are spent.”
Braun signs orders calling for state water management plan, Rare Earth Recovery Council
Gov. Mike Braun’s new executive orders require the state to develop a statewide water inventory and management plan, and establish a body that will spearhead efforts to reclaim rare earth elements from legacy coal byproducts.
State property tax plan might prompt local income tax hikes
Legislators determined to cut property tax bills for homeowners and businesses are set to leave local officials with difficult choices about whether to cut services or raise income taxes to make up for substantial funding gaps.
FDA upheaval worries local companies
The Trump administration’s recent announcement that it plans to eliminate about 3,500 FDA jobs is creating uncertainty among Indianapolis-area companies that interact with the federal agency.
Towns eager for READI grants to jump-start projects
Cities and towns around central Indiana are preparing to move forward on projects that will receive funding through the second round of state-funded regional grants from the Indiana Economic Development Corp.
Braun orders state-affiliated nonprofits to produce missed transparency reports
The Governor’s Office singled out the Indiana Economic Development Foundation, which supports IEDC travel and business-attraction efforts, for failing to produce years of transparency reports.
Modest legislative proposal aims to enhance Indiana tax credit
A bill that would tweak language from a 2022 law establishing a filmmaking tax credit might make the languishing credit more likely to attract productions and generate economic activity.
Legislation could sweeten tax incentives for certain quantum computing, defense-related projects
Data center construction has been met with some apprehension, including the low number of jobs produced for the large tax incentives and utility burden these developments require.
Uncertainties under Trump trouble housing providers
Frozen grants, delayed allocations and terminated funds are all examples of what Indianapolis housing providers and builders face as President Donald Trump’s administration slashes federal programs and jobs.