Indiana lenders had secured a total of $9.5 billion in Paycheck Protection Program loans for their borrowers as of Saturday, according to the Small Business Administration.
UPDATE: Council approves $25M to make federal paycheck loans available to small businesses
The Indianapolis City-County Council voted unanimously Friday morning to provide Indy Chamber with $25 million that will enable the business-advocacy group to quickly offer forgivable loans to small businesses in Marion County backed by the federal Paycheck Protection Program.Read More
Host Mason King talks with the Black Chamber’s Larry Williams about why he thinks the city should be working more with his organization—and providing it funding. And King also talks with Angela Smith Jones, the deputy mayor of economic development, about the reasons the city is working with Indy Chamber.
For its first investment, Impact is partnering with Indy Chamber’s Business Ownership Initiative in its effort to deliver rapid release response loans of $1,000 to $25,000 to businesses in need.
Beyond COVID podcast: Indy Chamber is trying to help companies stay on their feet through the shutdown
Indy Chamber CEO Michael Huber talks about the programs, what kinds of companies need them most and how the experiences have changed the way he’s thinking about his organization and what its mission will be going forward.
Nearly $3 million has already been committed to the fund, including $1 million from Indianapolis-based Anthem Inc. and $1.5 million from the city of Indianapolis.
Pattern Indy Editor-in-Chief Polina Osherov sat down with IBJ to talk about the third season of St’artUp 317, a program by the magazine and Indy Chamber that pairs underused first-floor commercial spaces in commercial corridors with artists, creators and producers looking for retail space.
The soaring Hispanic population can be a powerful engine for growth in the Indiana economy—potential that some of the state’s best-known businesses are embracing.
The staff members and consultants would help the district implement some of the chambers’ broad recommendations for hundreds of millions of dollars in cuts in the coming years, including possible school closures, reduced transportation, and staff reductions.
The business advocacy group is working with city officials and a consultant to develop a strategy for promoting Indianapolis’ musical assets—and then writing the next verse in a higher key and more robust tempo.
Records provided to IBJ give behind-the-scenes insight into the all-hands-on-deck effort to attract the $5 billion project to Indianapolis, including setting up secret meetings, weighing several possible sites, and discussing “creative” incentives such as building a charter school on the prospective campus.
The backing of the group could be instrumental in helping the school district pass the tax measure, which leaders say it needs to avoid drastic cuts.
The Indy Chamber said it has “identified dozens of recommendations that add up to hundreds of millions of dollars in potential savings” for Indianapolis Public Schools.
Median household incomes have dropped in a full third of Indianapolis ZIP codes since 2000. Inequality is growing across the city.
Dozens of small businesses have been helped by microloans—smaller than $50,000—from the Indy Chamber’s Business Ownership Initiative.
State economic development officials won’t comment on whether they plan to submit a proposal for the $5 billion development, but a local site-selection expert said pursuing Amazon is “too good of an opportunity” for the state to pass up.
Although lawmakers OK’d less than half the $50 million annual pledge business leaders wanted for expanding state-funded preschool, they passed a major infrastructure bill that businesses favored.
The person hired for the position is expected to help workers from Carrier Corp. and Rexnord Corp. who are about to lose their jobs—along with trying to help revitalize old industrial sites.
Ian Nicolini, 33, will serve as vice president of Develop Indy after his whirlwind tenure as town manager of Speedway. As in his previous position, Nicolini is charged with attracting companies and jobs to the area.