Developer of $37M downtown apartment project seeks new construction schedule
Investment Property Advisors needs the adjustment to still qualify for a property-tax abatement tied to a second phase to its 9 on Canal apartment project.
Tax Abatements
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Indiana, other states vie for big Foxconn display panel factory
Taiwanese electronics maker Foxconn’s plan to build a display panel factory in the United States has sparked a flurry of lobbying by states vying to land what some economic development officials say is a once-in-a-generation prize.
Pharmakon collected $560K in incentives before ceasing operations
Noblesville-based Pharmakon had a history of making state and local incentive agreements before suspending operations last year after a Food and Drug Administration investigation uncovered safety issues and possible criminal activity.
Infosys’ hiring plans in U.S., Indiana come after Trump criticism
India’s Infosys Ltd. said it plans to hire 10,000 American employees in the next two years, following criticism from the Trump administration that the company and other outsourcing firms are unfairly taking jobs away from U.S. workers.
India-based tech firm plans 2,000 jobs in Indianapolis area
In the biggest economic development agreement Indiana has reached in more than a decade, India-based technology consulting firm Infosys Ltd. on Tuesday announced plans to open an $8.7 million tech and innovation hub in central Indiana.
City set to rescind tax breaks for planned Interactive Intelligence expansion
The company that bought Interactive Intelligence last year for $1.4 billion has fallen short of the Interactive’s hiring and investment goals and is vacating a new, $12.4 million office building on the northwest side.
Big bakery meets early goals, plans $16.5M in new equipment
Fast-rising CraftMark Bakery wants to sweeten its investment and hire 32 more workers by expanding production capacity at a $75 million headquarters and manufacturing facility built in 2014 in Indianapolis.
Korean car parts maker targets Indy for U.S. HQ, 180 hires
Daechang Seat Co. is seeking tax breaks from the city for its plans to invest $16.8 million in a production facility and establish a base of operations in America.
Ganassi Racing seeking tax break for $3.5M expansion
The owner of four IndyCar racing teams says the tax abatement would help offset costs related to a 40,000-square-foot addition the company wants to build at its northwest-side headquarters.
CEO says Bottoms Up poised for growth despite tax abatement setback
After hitting some hurdles and then switching its client focus, the maker of the novel beer-dispensing system says sales are beginning to rise.
‘Bottoms Up’ beer-dispenser maker faces tax-break termination
The Metropolitan Development Commission is slated to vote Wednesday to terminate a tax-abatement agreement with Indianapolis-based GrinOn Industries LLC, makers of the “Bottoms Up” beer-dispensing system, which fills cups from the bottom.
City approves tax break for Cummins’ downtown office project
The Columbus-based engine maker will receive a 10-year personal property tax abatement on IT equipment for its new nine-story building, where it plans to employ about 250 workers by next month.
City officials to vote on Rexnord’s $381K tax-break clawback
The resolution directs the manufacturer to pay back the money and authorizes the Department of Metropolitan Development “to take such action as is necessary to recover said damages.”
Pharmaceutical firm plans $10.4M in new equipment, 60 jobs
The company has requested a tax break from Indianapolis officials on the project that would save it about $484,000 over eight years.
Trump, Pence praise Carrier for saving Indianapolis jobs
President-elect Donald Trump on Thursday said he wasn’t specifically talking about Carrier when he said on the campaign trail that "Carrier will never leave" America if he was elected president. But it didn’t stop him from trying.
Cook Group plans $16.5M local expansion, 82 jobs
The company said the expansion would help it retain 68 employees in Marion County who make an average of $28.85 per hour and hire 82 making similar wages over the next five years.
Mayor unsure how much of Rexnord incentives city could claw back
Indianapolis officials had success recovering $1.2 million from Mexico-bound Carrier Corp. In the case of Rexnord Corp., which announced a tentative plant closure last week, the incentives in play could be far less.
Liquor distributor plans $7M renovation, 30 new jobs on south side
The parent company of National Wine & Spirits, has applied to the city for a property-tax abatement on the project that will save it an estimated $335,243 over the eight-year abatement period.
FedEx planning $170 million in improvements at airport hub
According to a tax-abatement application with the city, FedEx plans to install $170 million in new package-sorting equipment, while adding 27 full-time jobs and 178 part-time jobs. It would also retain 728 full-time and about 3,200 part-time workers.
Trucking giant pegs Whitestown for parts distribution center, 45 hires
A company that sold more than 160,000 trucks last year intends to spend $12.35 million to lease and equip a 283,500-square-foot facility for sending parts across the Midwest.