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Scott Olson

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Parkwood West sets pace for north-side office space: Duke project boasts upscale amenities, top-level rent

Duke Realty Corp.’s $125 million Parkwood West development well may be the new trendsetter for future office complexes along the burgeoning north-side Meridian Street corridor. One West, a five-story, 186,000-squarefoot Class A office building, is the first of three structures rising from the Parkwood West project at the northwest corner of Meridian and 96th streets. The upscale design as well as the added amenities that include a parking garage-rare in the suburban market-could become the rule instead of the exception….

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Dunkin’ Donuts’ expansion plans may create coffee clash: Chain could put damper on Starbucks’ local growth

The return of Dunkin’ Donuts to the metropolitan area last month gave java lovers here their first whiff of a brewing coffee war. The Boston-area-based chain’s Carmel location is one of 80 franchised stores slated to open within the next eight years. Its re-entry into the market is part of a national campaign to more than double the number of its 6,000 locations by reinventing itself to challenge Seattle’s Starbucks. Dunkin’ Donuts is rolling out concept stores with hipper furniture…

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Firm sees growth for on-site clinics: Novia thinks workplace care can cut costs, help employees

Doctors who make house calls are about as obsolete as polio. But a fledgling local company is taking a page from the past and reintroducing the practice to the workplace instead of the home. Rising medical costs and the companies desperate to contain them are driving interest in the emerging model of on-site clinics. Large employers such as Toyota Motor Co., Pepsi Bottling Group, Credit Suisse and Sprint Nextel have embraced health clinics in recent years, in hopes of promoting…

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PEOs bouncing back following shakeout: Professional employer organizations enjoying growth as companies seek better ways to manage benefits

Even though Sentelligence Inc. in Noblesville has only five employees, the tiny tech firm offers an appealing benefits package rivaling that of a large corporation. The designer of diagnostic sensing devices for diesel engines has not discovered the Holy Grail of human resources. Rather, it’s using what’s known as a professional employer organization. Companies contract with PEOs to handle all the headaches of human resources, including payroll, payroll taxes, Worker’s Compensation claims, health plans, and other employee benefits, not to…

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Mental health parity gets closer to reality: Bill requires equal coverage in health insurance

Local mental health advocates are applauding a U.S. Senate bill passed last month that would require equal health insurance coverage for mental and physical ailments when policies cover both. The bill, which passed unanimously, moves advocates one step closer in their long-fought quest for a concept known as mental health parity. Mental Health America, formerly known as the National Mental Health Association, praised the passage as an opportunity to end discrimination against people with mental health disorders. Steve McCaffrey, president…

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FlowCo on verge: BioCrossroads grant boosts promising biotech firm

Drug-coated stents, which are used to open clogged arteries, can be life savers-if they’re implanted correctly. The $6 billion global stent market has come under scrutiny lately from doctors and researchers concerned that poor technique by cardiologists may contribute to rare but dangerous blood clots that can form after a stent is inserted. Stents that aren’t placed properly over the affected area may enable clots to form. But a device developed by an IUPUI researcher could prevent mishaps by helping…

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Capital key topic at forum: Fourth life sciences event grows with local industry

The pulse of Indiana’s fledgling life sciences sector will be taken later this month at an annual conference featuring some of the industry’s strongest advocates. Experts will weigh in on several topics ranging from the discovery of technology to accessing capital, which is a growing concern for the earliest-stage companies that are riskier investments. In its fourth year, the Indiana Life Sciences Forum will take place Oct. 22-23 at the Westin Indianapolis and will be hosted by Indiana business-development initiative…

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Tax credit boosts interest in Indiana’s college plan: Break offsets what some consider excessive fees

Parents sifting through the dizzying array of college-savings plans must feel as though they’re playing their children’s Pin the Tail on the Donkey game: Make a blind stab and hope for the best. But a state tax credit that took effect at the start of the year seemingly is providing enough incentive to steer Hoosiers toward Indiana’s 529 offering despite the hefty fees that accompany it. The bill that created the 20-percent tax credit-equaling $1,000 on contributions up to $5,000-vaults…

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Navigating the credit crunch: Will subprime woes leave you dry? Here’s what to look for.

For months, we’ve been reading and hearing news about the so-called subprime mortgage crisis and the resulting “credit crunch.” For thousands of families who have lost their homes to foreclosure, the crisis is clear. For most people, however, the impact isn’t so obvious. Beyond those directly affected by mortgage defaults, who else should be concerned about the aftershocks? Some economic forecasters are warning that the subprime mortgage situation and the ongoing weakness in the housing market could linger long enough…

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Market woes in housing complicate relocations: Slow home sales, falling values make workers reluctant to move

Residential real-estate broker Andy Tarbutton typically wouldn’t turn down an opportunity to market a home just because a job transfer prompted the sale. But the ripple effects of the woeful housing market are causing agents and the corporate community to rethink the way they handle relocations. Not long ago, employees weren’t usually opposed to making a move to better their careers, because they were almost certain to turn a profit on their homes. Now, they’re afraid they’ll lose equity. “My…

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Relocation survey says: ‘Go [Mid]west,’ young executive: Companies are sending more of their employees to the region; overseas transfers are also on the increase

Midwestern cities are unlikely to top the list of vacationing hot spots, but they are a popular destination for relocating employees. That’s the consensus from the latest Corporate Relocation Survey conducted annually by Evansville-based Atlas World Group, whose largest subsidiary is Atlas Van Lines, the second-largest interstate motor carrier in the United States. The study revealed that nearly a third of firms, 29 percent, are sending more employees to the Midwest than any other part of the country. Surprisingly, the…

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Minority hiring on track: Stadium, airport projects meeting most goals

Two of the city’s largest and most visible construction projects so far have committed roughly $300 million in contracts to minority and women business owners-a healthy sum that has the owners meeting most of their obligations. The $1.1 billion midfield terminal at the Indianapolis International Airport and the $700 million Lucas Oil Stadium are on pace to be finished the second half of 2008. All told, that’s roughly $1.8 billion in construction contracts that ultimately will be awarded. With 80…

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Increasing demand for land surveyors sparks changes: Despite some criticism, Purdue University moves program into different department to attract more students

Purdue University is mapping out a controversial strategy to produce more land surveyors amid growing demand for graduates entering the profession. The number of Purdue students interested in pursuing a surveying career has dwindled to just a dozen out of roughly 500 enrolled in the university’s School of Civil Engineering. M. Katherine Banks, head of the school, attributes the dearth to a lack of visibility the surveying program endures tucked within the larger department. “We need a fresh start,” she…

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When it comes to LEED, Indiana trailing: But area designers, contractors see green progress

No environmentalist would mistake Indianapolis for the poster child of green building, but local designers and contractors are preparing themselves to capture a market they expect will become an integral piece of their portfolios. The Leadership in Energy and Environmental Design standard, better known as LEED, is a benchmark of sorts for designing, building and operating environmentally friendly buildings. At least 16 projects in the metropolitan area are seeking the LEED certification, but only one so far has achieved green…

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United Way seeks corporate help to promote reading: Fourth-grade program tries to attract 500 volunteers

Wanted: Corporate types willing to give an hour of time a week to a cause that is as critical as any business decision ever made. Must be willing to work with children. If interested, contact the United Way of Central Indiana. Intrigued? Then you might be a candidate for the ReadUP program, which aims to help fourth-graders within the Indianapolis Public Schools system become better readers. The ultimate goal is to produce more high school graduates for a district in…

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Parties choose sides over federal insurance oversight: Indiana commissioner, Indianapolis-based National Association of Mutual Insurance Companies favor compact

Insurers are split in their support of legislation that could significantly alter the way they do business by creating a federal agency to regulate the insurance industry. The National Insurance Act of 2007, introduced by Reps. Melissa Bean, D-Illinois, and Ed Royce, R-California, would let insurers choose whether to be regulated by the new system or continue to receive oversight from the states. The current way in which insurers are regulated gives the states authority to set industry standards. The…

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Office market vacancy rates showing positive signs: Government leasing boosts downtown performance; suburbs see fast absorption despite flurry of construction

Downtown and suburban vacancy rates are declining slightly or at least holding steady-a positive sign for an Indianapolis office market absorbing a plethora of new space on the city’s north side. The second-quarter vacancy rate for the central business district dropped to 15.9 percent, from 16.7 percent the previous quarter, according to data from the local office of St. Louis-based commercial real estate firm Colliers Turley Martin Tucker. A similar report from the local office of Los Angeles-based CB Richard…

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Plans for Central State’s rebirth taking shape: Mixed-use 150-acre project vast in scope, challenging

Touring the expansive grounds of the former Central State Hospital west of downtown is like taking a trip back in time-evident by the crumbling buildings that are as dated as the site’s original Hospital for the Insane name. But a redevelopment in the final stages of city approval could breathe new life into a 150-acre parcel surrounded by blighted neighborhoods to the east and north and Hispanic storefronts to the south along West Washington Street. The proposal features a mix…

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Inventory tax repeal still being hailed as good decision: Amid rising property taxes, economic development officials and brokers say taxing inventory was bad policy

With the state in an uproar over soaring property taxes, some have wondered whether phasing out Indiana’s business inventory tax was a good idea. The phase-out process began in 2002 before completely eliminating the inventory tax this year, taking with it roughly $380 million in tax revenue shared annually by local governments. Supporters of the move insist lawmakers made the right decision. And they say Indiana has become more attractive to business as a result. Marion County property-tax bills were…

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Local convention officials look homeward to fill void: Indiana companies targeted during expansion project

The Indianapolis Convention and Visitors Association hopes to soften the blow from the loss of two national trade shows with a campaign persuading Hoosier companies to choose the city for events and meetings. ICVA officials plan to launch the loosely dubbed “Bring it Home” effort Sept. 1 with a letter to corporate executives that expounds the virtues of Indianapolis. The aim is to bring business to the hospitality community during what is expected to be a slow time the next…

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