Carmel tech firm sues IEDC, others over alleged IP theft
DynamoEdge’s core product uses 5G technology to analyze real-time data to anticipate problems before they occur.
Indiana Economic Development Corp.
-
Ritz-Carlton confirmed as part of Simon family’s $400M CSX redevelopment
Boxcar Development, an investment group for the Simon family, will formally break ground on the project Wednesday, although site work—including demolition of the former CSX railroad building—began in mid-2024.
Read More -
IBJ Podcast: What a state audit reveals about the IEDC, Elevate Ventures and more
The Governor’s Office said the review uncovered nothing criminal. Still, the auditors noted dozens of findings in the report, including situations involving conflicts of interest, poor documentation and a lack of transparency.
Read More -
State releases results of monthslong forensic audit of IEDC, affiliated agencies
The 127-page report comes just over a week after the IEDC board unanimously agreed to publicly share it—pending legal review—and roughly five months after it was announced.
Read More -
Lingering conflict means angst for startup community
Indianapolis-based Elevate, a nonprofit venture investment firm, has been operating under a cloud since late April when state officials froze its funding.
Read More
Articles
Elevate Ventures says it’s proceeding with launch of long-planned growth fund
The Indianapolis-based nonprofit wants to invest $150 million in young Indiana companies who need help to scale their businesses.
Where did lawmakers land on data center payments, rental caps, IEDC credits?
Indiana lawmakers sent Gov. Mike Braun a hefty local finance bill on the last day of the legislative session, weighing in on thorny topics such as local income tax allocations, rental property caps and data centers.
Data centers could pay Indiana municipalities 1% of equipment purchases, electric bill
The Indiana Senate is considering language that would see local governments get potentially significant payments from data center operators seeking to build in their towns.
Indiana House adds $50M in regional tax credits to IEDC bill
The bill requires the Indiana Economic Development Corp. to set aside $50 million in tax credits — out of the agency’s total allotment of $300 million — for specific regional items. It also establishes rules for the state’s new drone-testing site.
Indiana wins national drone test site designation
Sen. Todd Young said the site will mean more training opportunities for the Indiana National Guard and other military who come here to train, plus spillover economic benefits to communities that host them.
2025 Year in Review: Gov. Mike Braun launches audit of IEDC and related organizations
The investigation, which Braun labeled a “forensic audit,” launched in May and continued through the summer, leaving work by Elevate and other organizations in limbo and raising questions about whether the state would continue to invest in fledgling companies
Indiana’s congressional delegation unites behind FAA drone test site bid
A letter to the Federal Aviation Administration highlights Indiana’s manufacturing, research and military assets as strengths in the national competition.
Abrupt crane bay demolition at former GM stamping plant site caught many off guard
It took only a five-line clause in the state’s August land sale to Elanco Animal Health to bring down what was left of a nearly 100-year-old crane bay along the western bank of the White River.
Braun taps DWD commissioner to lead IEDC
Gov. Mike Braun on Tuesday announced the appointment of Josh Richardson as president of the Indiana Economic Development Corp.
Google reveals itself as developer behind 500-acre Morgan County data center campus
Google’s announcement comes about a month after it pulled its plans for a data center on the southeast side of Indianapolis amid heavy community opposition.
Braun satisfied with results of IEDC audit, says state will continue to implement fixes
Gov. Mike Braun on Tuesday said his administration is already making changes based on the findings of a monthslong audit of the Indiana Economic Development Corp.
Loan-related Elevate Ventures questions remain following audit report release
An audit report released Thursday does not address some lingering issues between Elevate and the Indiana Economic Development Corp., including a loan default issue.
Takeaways from the forensic audit of the IEDC, Elevate Ventures and other related entities
The report details findings related to the Indiana Economic Development Corp., the Indiana Economic Development Foundation, the LEAP District, Elevate Ventures and the Applied Research Institute.
IEDC approves $10M in federal funding to launch Indianapolis venture studio
The Indiana Economic Development Corp. approved $10 million in federal funding for the planned OneHealth Venture Studio, which will operate on Elanco Animal Health’s new Indianapolis campus.
Redefined Indiana economic development roles coming, months after legislative mandate
Secretary of Commerce David Adams remains both CEO and president of the Indiana Economic Development Corp., but that’s expected to change next month.
State plans to ‘wind down’ the Indiana Economic Development Foundation
The nonprofit, which raises money to support Indiana Economic Development Corp. activities, was singled out by Gov. Mike Braun amid calls for greater transparency regarding taxpayer dollars.
IEDC board OKs public release of forensic audit of agency, affiliated entities
Gov. Mike Braun ordered the audit in April, citing unspecified concerns about transparency at the Indiana Economic Development Corp. and its related entities.
UPDATE: IEDC board allows Elevate Ventures to continue investment activity
The move came hours after Gov. Mike Braun—whose administration last spring froze funding for the nonprofit—made an unscheduled appearance at Elevate’s Rally innovation conference.
Cost of IEDC consulting contract for data center study tops $1.2M
Boston Consulting Group was hired in April to prepare a report that seeks to answer “whether data centers provide sufficient return on investment for Indiana.”