IEDC leader to depart as part of ‘evolution’ of agency
Jeff Blade has served as the Indiana Economic Development Corp.’s executive director for less than a year.
Indiana Economic Development Corp.
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IEDC deems Elevate Ventures, affiliates in breach of all active loans
The warning comes after the venture development firm defaulted on an angel investment program.
Indianapolis biz leader picked to lead new state Office of Entrepreneurship and Innovation
Indiana’s new Office of Entrepreneurship and Innovation is expected to focus on Main Street businesses—small businesses that are not venture-backed, not easily scaled and found in many towns and cities across the state.
Amid ongoing Elevate Ventures funding freeze, some companies approved for investments
Also, at Wednesday’s meeting, the IEDC board’s entrepreneurship committee updated the investment policy for the Indiana Angel Network Fund III LLC—the investment fund managed by Elevate Ventures through which the SSBCI money flows.
IEDC board approves incentives for four planned data center projects
The Indiana Economic Development Corp. estimates that the data center incentives are worth an estimated $168 million in total tax savings for the combined projects over the next 35 years.
Hotel and concert hall project across from Fieldhouse scores up to $33M in state funding
The Indiana Economic Development Corp.-approved funding exceeds initial requests for the project, which would include a Shinola Hotel and a venue to be managed by Live Nation.
Braun replaces IEDC board with 9 new members
The sweeping move fulfills a pledge Braun made Thursday when he confirmed he planned to dismantle and reconstruct the existing board of the state’s economic development agency.
Marketing firm Prolific partners with Elevate Ventures, bringing national news coverage to Rally conference
Elevate Ventures and Indianapolis-based marketing, strategy and investment firm Prolific have merged their fall conferences.
Braun planning to dismantle IEDC board, appoint new members
Indiana Gov. Mike Braun confirmed Thursday that he plans to reconstruct the board of the Indiana Economic Development Corp. with new members beginning Monday.
50+ state employees—including IEDC workers—laid off as Indiana cuts take effect
The Governor’s Office confirmed that agencies under both the education and commerce verticals announced staff reductions on Tuesday. The Indiana State Museum also let go of several employees last week.
Governor’s IEDC moves raise questions about planned VC growth fund
Almost exactly one year ago, Indiana officials publicly announced a significant entrepreneurial resource the state had been quietly working on for several years—the launch of a $100 million investment fund to help young companies scale up their businesses. A lot has changed since then.
Funding for workforce training, manufacturing readiness and flight incentives in limbo after state budget cuts
Business leaders are encouraging state commerce officials to retain the programs that have led to what they say has been a “strong ROI” in the past.
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.
For sale: IEDC land purchased for LEAP project, but never used
After buying thousands of acres in Boone County to develop a technology park, the Indiana Economic Development Corp. quietly listed two properties for sale a month ago.
Rally innovation conference to continue as planned, likely without state support
Rally innovation conference creator Elevate Ventures says Rally will take place as planned this year, but organizers are not counting on financial support from the Indiana Economic Development Corp.
IBJ Podcast: Inside the Legislature’s wild session on tax breaks, hospitals, IEDC and more
Three journalists who covered the budget-writing session recap the twists and turns of the four-month assembly as lawmakers locked bumpers over ways to save Hoosiers money and hit a revenue sinkhole.
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.
Indiana Economic Development Foundation releases annual audits at Gov. Braun’s demand
The state-affiliated nonprofit averaged more than $2 million in spending annually on travel and more.
Elevate says state funding freeze endangers startups, entrepreneurial community
Commerce Secretary David Adams announced last week that the state had frozen funds earmarked for Elevate Ventures, but he did not outline specific concerns about the nonprofit or its operations.
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.