Indianapolis Business Journal

Downtown hoteliers say they’re confident they'll be well-staffed and ready to go in six weeks when March Madness comes to town, bringing a sudden influx of thousands of guests to a market that has been operating well below normal levels since the pandemic began. IBJ’s Mickey Shuey sheds light on the needs hoteliers are trying to anticipate as they gear up for the rush. Also in this week’s paper, Greg Andrews unpacks the ramifications of a settlement that will cost Indianapolis-based health insurer Anthem nearly $600 million. Despite the jaw-dropping price tag, the deal is viewed by some investment analysts as a huge win for the company. And Lindsey Erdody reports on legislative efforts to establish workplace accommodations for pregnant women in Indiana, one of about 20 states that doesn’t have them on the books.

The number of public announced philanthropic gifts of $1 million or more from individuals to Indiana organizations plummeted in 2020, along with the total value of the big donations. Lindsey Erdody explores potential reasons for the shortfall—some of which suggest that big donors are using other avenues to gift their riches. Also in this week’s paper, John Russell pieces together the story of Ossium Health, a secretive Indianapolis-based biotech startup that reportedly raised an eye-popping $60.9 million in funding last fall. And Greg Andrews explains how a nontraditional way of taking companies public is making bucketsful of money for some Indianapolis businesspeople engineering the deals.

Downtown apartment managers are extending rent specials, reducing parking costs and offering other incentives to get tenants in the door—and lock in current residents—as they try to stave off a pandemic-related slowdown. Mickey Shuey charts the decline in rent prices downtown—and their continued rise elsewhere in the Indy area. Also in this week’s issue, John Russell explores the rush to vaccinate Hoosiers for COVID-19 as quickly as possible, after federal officials gave states the green light to dramatically expand the pool of people eligible. And Samm Quinn details the progress of the Indianapolis International Airport’s retail refresh effort, which is off to a slower start than anticipated due to the pandemic.

The push to stage all of March Madness in the Indy area will be a herculean effort involving city and state officials, tourism and civic leaders, national broadcasters and likely thousands of volunteers. Mickey Shuey has the highlights and fine details from the still-evolving to-do list on the (likely) giant whiteboard at the effort’s headquarters. Also in this week’s issue, John Russell examines the lukewarm reception for Eli Lilly and Co.’s revolutionary antibody treatment for COVID-19. And Kurt Christian outlines the aggressive plans of Culver’s super-franchisee Jeff Meyer of Noblesville as he stakes out his new company headquarters and readies for 10 more locations.

License plate reading technology is becoming more common in subdivisions concerned about curbing crime, but some civil liberties experts have questions about whether they invade the privacy of people affected by them. Also, Martinsville is preparing for a big increase in traffic coming into its downtown as vehicles detour around an Interstate 69 construction-related closure. Plus, read what residents near Indiana Avenue are saying about future development near the Madam Walker Legacy Center.

The year was barely two months old when things went topsy-turvy. A microscopic virus hit the economy like a freight train, and public health concerns disrupted nearly every element of our lives. And that was just the beginning of a year rife with social crises and political reckonings. IBJ’s “2020 Year in Review” package provides a recap of how central Indiana was affected. Also in this week’s issue, Susan Orr delves into the Indy Chamber’s $6.1 million effort to elevate central Indiana’s reputation and persuade people to move here. And Greg Weaver details the backlash against solar farms in Indiana’s rural communities.

Businesses, not-for-profits, schools, religious organizations and other entities soon could be shielded from lawsuits related to COVID-19 infections. Lindsey Erdody reports that Gov. Eric Holcomb and state lawmakers are making a legal shield a priority in the upcoming legislative session, although opponents characterize it as a get-out-of-jail-free card for bad actors. Also in this week’s issue, Anthony Schoettle delves into a rare problem for Indiana University’s football program: trying to hold onto a head coach hotly pursued by other universities. Can IU keep the wolves from snapping up Tom Allen? And Samm Quinn explains how local hotels plan to help house the homeless this winter as shelters observe strict rules about occupancy during the pandemic.

The negotiations to relocate Elanco Animal Health’s headquarters campus from Greenfield to downtown Indy’s west side were so high-stakes and top-secret that city and state officials needed to use code names to refer to them. Mickey Shuey has a fascinating, behind-the-scenes look at the negotiations, which included a huge incentives package for Elanco, competition from other cities and an ungainly piece of property tied up in tense litigation between the city and a private developer. Also in this week’s issue, Lindsey Erdody examines the financial strains that state legislators must address as they put together the state’s next two-year budget—and the likelihood that education will shoulder some of the burden. And John Russell explores how hospitals are discharging some patients earlier than they normally would in order to free up more beds during the pandemic. In some situations, they’re going home with oxygen machines, intravenous lines and powerful medicines.

The city of Carmel is the latest Indiana community trying to leverage its waterways to offer businesses cheap and plentiful liquor licenses. Kurt Christian has more on Carmel’s plans to establish four riverfront districts and checks in with other communities to see how the strategy has played out around the state. Also in this week’s issue, Mickey Shuey explores how city tourism officials could juggle the conventions and events set for 2021 in order to make room for hosting the entire NCAA men’s basketball tournament this spring. And Samm Quinn outlines how the Indianapolis City-County Council hopes to move the needle on food insecurity by taking a more aggressive approach to tackling food access and equity issues.

The coal industry is fighting for its life in Indiana, where production has fallen and employment has thinned in recent years. And it might have powerful friends in the Indiana General Assembly, where Republican lawmakers are preparing to roll out legislation to address stability and reliability on the electrical grid, John Russell reports. Also in this week’s issue, Anthony Schoettle tracks the progress of startup studio High Alpha, which has hit a higher gear this year by introducing eight new tech firms with two more expected in December. And Lindsey Erdody explores how the pandemic could exacerbate the challenges of the Salvation Army’s red kettle campaign, which already faced hurdles such as decreased foot traffic and the decline of people who carry cash.

Across Indiana, the number of patients hospitalized with COVID-19 has been swelling like a flooding river, threatening to swamp stressed-out staffs and raising alarms about the capacity of local health care systems. John Russell examines how hospitals are handling the COVID-19 surge as it threatens to become an onslaught. Also in this week’s issue, we take a deep dive into Hamilton County, which remained a Republican stronghold in an election many experts believed would show a tilt to the left and produce wins for Democrats. Lindsey Erdody reports that President Trump and a combination of developments specific to 2020 blocked any chances of a blue wave. And Susan Orr forecasts a chilly reception for IndyGo when it reports to the Indiana Legislature on its underwhelming efforts to raise private money to help fund a major expansion of the transit system.

Passenger traffic at Indianapolis International Airport is expected to be 45% lower in 2020 than last year, but airport leaders say they are confident they can keep the organization’s finances stable. Samm Quinn examines its flight plan through turbulent skies over the next several years. Also in this week’s issue, Mickey Shuey reveals which Indianapolis hotels are under the most pressure from lenders as they stare down massive debt payments over the next few years. And Susan Orr takes a closer look at how consumers are avoiding taking out new loans and instead beefing up their savings, leading to enormous growth in bank deposits.

Gov. Eric Holcomb has said repeatedly that he’d be willing to reverse course on the state’s reopening plan if the data indicated that the pandemic was worsening. Lindsey Erdody explores why Holcomb hasn’t taken a step back now that confirmed cases, hospitalizations, deaths and positivity rates have surged. And John Russell reveals how much fine-grained and site-specific data the state collects on the spread of COVID-19 that it declines to share with the public. Also in this week’s issue, IPS Superintendent Aleesia Johnson discusses the reopening of the state’s largest public school system and what administrators have learned so far.

As the world holds its breath while drugmakers rush vaccine candidates for COVID-19 through development, an Indiana-based startup is planning to launch a $60 million drug-manufacturing plant in Fishers that can help pharmaceutical companies get new products to market faster. Kurt Christian explains how INCog is planning to seize on the new urgency for developing and manufacturing drugs much more quickly than in the past. Also in this week’s issue, Lindsey Erdody identifies the top campaign donors for Indiana’s three gubernatorial candidates. And IBJ honors the winner of this year’s Michael A. Carroll Award: Teresa Lubbers, former state senator and the long-time commissioner of the Indiana Commission for Higher Education.

In this week's issue, political reporter Lindsey Erdody digs into tight Indiana General Assembly races in the northern suburbs, an area where many GOP candidates in past years have enjoyed comfortable victories. The issue also features a story by Susan Orr on the Indy Racial Equity Pledge that nine central Indiana employers have taken, and a story by Mickey Shuey on tensions over the proliferation of 5G poles in Indianapolis neighborhoods.

Gov. Eric Holcomb has made a lot of promises to Hoosiers since unexpectedly becoming his party’s nom- inee for governor in 2016 after then-Gov. Mike Pence ended his campaign so he could become the vice presidential candidate for Donald Trump. An analysis by IBJ’s Lindsey Erdody finds that Holcomb has accomplished or at least made progress on most of them. Also in this week’s issue, John Russell examines what the latest computer models are indicating about the death toll in Indiana from COVID-19. And Mickey Shuey examines how the owner of the Indiana Convention Center and Indianapolis’ major sports venues is planning for an extremely lean 2021 with revenue reduced by a third.

While much of Indiana’s hospitality sector has struggled during the pandemic, another pillar of the state’s economy has been able to remain on its feet. Designated as essential businesses, most manufacturers have been able to remain in operation throughout the pandemic. Susan Orr explains why some local companies say the industry already was in a good position to handle the crisis. Also in this week’s issue, John Russell explores why the long-simmering dispute between Eli Lilly and Co. and safety-net hospitals across the nation over the price of prescription drugs has reached a boiling point. And Samm Quinn brings us up to date on the celebrations for Indianapolis’ bicentennial, which are under way with plenty of opportunities for residents to safely engage.