Indianapolis Business Journal

Mayor Joe Hogsett’s campaign to establish a Major League Soccer team in Indianapolis took a big step forward this week with the stamp of approval from Gov. Mike Braun and continued evidence that the Simon family is involved. Mickey Shuey reports on sentiment from insiders an sports business experts that the Simons could provide the credibility and at least some of the cash needed to get a deal done. Also in this week’s issue: Dave Lindquist explains how the owner of downtown’s new InterContinental Hotel is using unique visual art to establish the property’s local bona fides. And Cate Charron has your guide to the organizational chart in Braun’s fledgling administration.

Potential rollbacks of Biden-era policies that incentivized electric vehicle production and ownership have stirred apprehension among economic development officials across the state. IBJ’s Mickey Shuey reports on where things stand for billions of dollars in Indiana projects for electric vehicle and battery manufacturers. Also in this week’s issue, Daniel Lee takes stock of the headwinds blowing against Indianapolis-based health insurance giant Elevance Health, including the challenge of meeting Wall Street expectations while criticism of insurer profits grows louder. And Dave Lindquist has the story on the latest album by Rev. Peyton’s Big Damn Band, which is finding old-school success with a firm grip on the modern music industry.

IBJ's front page is dedicated to the issue of tariffs this week. Reporter Daniel Lee focuses on how Indiana could be affected—which industries are most vulnerable, what business leaders are saying about the impacts and what companies are most likely to find opportunities in the changes. Reporters also talked with three Indiana companies—Konrady Plastics in Portage, Hard Truth Distilling in Nashville and StagUSA Services in Anderson—to get more specifics about the impacts of President Donald Trump's trade policies. IBJ also talked with entrepreneur Brian Schutt, a co-owner of Homesense Heating & Cooling, about tariffs. Also, in this week's issue are stories about the financial problems and lawsuits that mean the WonderRoad music festival won't be staged again this year and the city of Carmel's initial thoughts about remaking the U.S. 31 office corridor.

The rising price of eggs has come to symbolize inflation at the supermarket, but the runup is due in large part to avian influenza—or bird flu. Taylor Wooten explains how Indianapolis-area brunch restaurants are dealing with price increases for one of their staples. Also in this week’s issue, Mickey Shuey digs deeper into the plans for a $78 million practice facility downtown for the Indiana Fever. And Daniel Bradley explains how the next phase of development for Grand Park Sports Campus—a new sports, entertainment and business district—is an example of the kind of economic development that Grand Park’s founders had envisioned as a byproduct of the project.

Leaders for the fast-growing town of Cumberland, a suburban enclave that straddles the line between Marion and Hancock counties, want to separate from Indianapolis government. Taylor Wooten explains the circumstances. Also in this week’s issue, Susan Orr explains why Indiana has become an attractive market for large-scale data centers run by tech giants such as Amazon, Google, Meta and Microsoft. And Dave Lindquist pulls up a chair with Travis Moore, owner of Black Orchid Barbers, to get the story behind the local chain’s growth to five shops, with more in the wings.

Hancock Health has expanded its reach beyond health care over the last seven years to become a master developer of a 160-acre medical, retail and housing project in western Hancock County. Mickey Shuey details the evolution of Hancock Gateway Park. Also in this week’s issue, Daniel Bradley examines the influx of out-of-state investment firms buying single-family homes in central Indiana—and how cities are seeking limits on single-family rentals. And Daniel Lee has the story of a Carmel firm that has launched an AI-powered app that provides mental health services.

From the outside looking in, Indianapolis Mayor Joe Hogsett’s pursuit of a major League Soccer club seems to have come to a standstill, although several parcels in and near the area earmarked for the arena have changed hands. Mickey Shuey brings us up to date on recent developments and the long list of hurdles that remain. Also in this week’s issue, Greg Weaver explores the why Indiana law firms prioritize lobbying as a necessary service for clints. And Daniel Lee has our annual compendium of Indiana-based philanthropic giving, topped by a $150 million gift to a university and listing more than 50 other donations around the state of $1 million or more.

IBJ arts reporter Dave Lindquist talked with Newfields’ latest CEO, who is bringing a financial background to the leadership of an organization that has struggled to find its footing after a stumble involving race several years ago. Reporter Susan Orr writes about the increasing demand for financial advisers, despite the online tools available to investors in the digital age. And North of 96th reporter Daniel Bradley writes about why developers and local government official increasingly see town houses as a solution to housing woes.

Indianapolis Mayor Joe Hogsett made curbside recycling a priority in his first term. But it looks likely that he'll leave office before the service ever begins. IBJ's Taylor Wooten explains the latest delay in a page 1A story. Plus, Dave Lindquist details 10 arts and entertainment programs, performances, books and more to look forward to in 2015. Also, read a Q&A with Catherine Esselman, who talks about her work filling unused spaces with new, interesting tenants.

IBJ's The Book—an annual publication packed with industry lists, year-in-review stories and IBJ's honorees for 2024—arrives with this week's print issue of IBJ. Online, you'll find our 2024 newsmakers, led by Newsmaker of the Year Caitlin Clark, who led the Indiana Fever and WNBA to unprecedented popularity. The year's biggest stories included economic development news, campaign results and more.

After a stunning 703% run-up in price over the past five yars, shares of Eli Lilly and Co. have been on a roller-coaster ride since September. John Russell explores the uncertainty that has cooled investors' ardor. Also in this week's issue, Cate Charron outlines Gov. Eric Holcomb's legacy as an economic development deal broker for Indiana. And Dave Lindquist profiles the latest project from restaurateur Thomas Main: Carmel-based Freeland's at North End.

President-elect Donald Trump’s pledge to impose tariffs on goods from Canada and Mexico has caught the attention of Indiana companies, which stand to experience a significant impact if new or expanded tariffs are imposed. Susan Orr outlines their areas of concern, which include motor vehicle parts, other manufacturing materials and food products. Also in this week’s issue, Mickey Shuey digs into the backlash that greeted plans to redevelop a rundown east-side retail center into an apartment complex. And Daniel Bradley features the owners of Noblesville institution Adrienes Flowers & Gifts, which is closing after 46 years.

During the holiday shopping season, it’s all too easy to handle your gift list via Amazon and other giant e-commerce retailers. David Lindquist asks local independent retailers about the lengths they will go to make an in-person sale via face-to-face customer service. Also in this week’s issue, Mickey Shuey explores how Mayor Joe Hogsett’s office is trying to reorganize the city’s economic development apparatus to get a better shot at landing new companies and high-paying jobs. And Daniel Bradley outlines efforts to develop the now-quiet State Road 47 exit on Interstate 65 in Boone County.

The city of Indianapolis expects the $32 million Housing Hub—a low-barrier homeless shelter—to open in 2027. In the meantime, advocates for the homeless are debating whether the shelter will make a significant difference without permanent housing options to go along with it. Taylor Wooten has the story. Also in this week's issue, Dave Lindquist interviews Ted Gelov, the owner of Carmel-based Heartland Food Products Group, who is turning to IndyCar to build the brand of Java House, a cold brew coffee product that debuted in 2018. And Susan Orr explains why it's good to be a banker these days.

Carmel leaders are seeking answers about the finances and structure of the nonprofit Christkindlmarkt it helps fund. IBJ's Daniel Bradley dives into the details of what Mayor Sue Finkham is trying to achieve. Also, the Lilly Endowment sold some of its Eli Lilly and Co. stock holdings at or near a top price in the market, giving it millions to grant to organizations and programs. And IBJ's Susan Orr talks with entrepreneur John Thompson about what he looks for in the companies in which he invests.

The bid to bring one of the top 2025 events in the LIV men’s golf league was well served by the impression central Indiana left on its executives during the U.S. Olympic Swimming Trials in June. But, as Mickey Shuey reports, the way was paved months earlier. Also in this week’s issue, Cate Charron explains why recent comments from Donald Trump have raised suspicions in the tech industry that the CHIPS and Science Act—which has been central to several major economic development projects announced in Indiana—could be altered or abandoned. And Dave Lindquist profiles Brian McCutcheon, who has threaded the needle for creating sophisticated and accessible large-scale public art in Indianapolis.

For Indianapolis, staging the World Food Championships might sound like a bit of a lark after the NBA All-Star Game, the U.S. Olympic Swim Trials and Taylor Swift, but you could think of the food championships as the culinary Olympics. Dave Lindquist examines the potential local impact of hosting 1,200 chefs from more than 30 countries. Also in this week’s IBJ, Daniel Bradley explores how Fishers officials hope to revitalize the Allisonville Road commercial corridor. And we highlight the professional, civic and philanthropic achievements of attorney Melissa Proffitt, the recipient of this year’s Michael A. Carroll Award.

Rolling out a food truck might seem like a relatively easy way to get into the eatery business, but licensing in central Indiana can be as confusing as a nine-way intersection. As Daniel Bradley reports, food truck operators are required to make applications and fork over fees on a county-by county—and sometimes city-by-city—basis. Also in this week’s IBJ, John Russell investigates the extended delay in construction of a hospital announced for the Discovery Park District at Purdue University. And Susan Orr explains how local banks are competing for customers with cash offers.