Indianapolis Business Journal

In this week's issue of IBJ, Mickey Shuey reports that local officials led by the Indiana Sports Corp. are betting big on the city's continued success as a sports city by submitting dozens of bids to host championship level sports events. Greg Andrews explores the major steps that Muncie-based First Merchants Bank is taking to settle investigations that it engaged in redlining majority-Black Indianapolis census tracts. And Lindsey Erdody features in-depth discussions with Republican Todd Rokita and Democrat Jonathan Weinzapfel, the major party contenders for Indiana’s attorney general.

The basement of the Indianapolis Motor Speedway Museum is jam-packed with hundreds of vehicles—some in pristine condition—that never go on display. Mickey Shuey reports that as the facility looks to upgrade its collection, dozens of those cars are going on the auction block. Also in this week’s issue, Susan Orr takes stock of the forces expected to batter small businesses this fall, likely leading to a devastating shakeout. And Greg Andrews examines how enigmatic Simon Property Group CEO David Simon is handling the sudden deluge of national interest in his firm’s high-profile purchases of bankrupt retailers, such as Brooks Brothers and J.C. Penney.

Farm Bureau Insurance is a big, established company, not the kind of firm often associated with innovation. But company officials have made instilling an innovation culture a high priority, which helps explain why the company just rolled out a startup and plans to launch others. Anthony Schoettle examines the strategy. Also this week, Susan Orr highlights some of the works of art that have sprung up around Indianapolis as part of Art & Seek, a program of Keep Indianapolis Beautiful and the Arts Council of Indianapolis. In addition, Lindsey Erdody examines real estate purchases and sales by Victoria Spartz, the GOP candidate in the 5th Congressional District, who is using profits from some of the deals to help fund her campaign.

When the $150 million Simon Cancer Center opened in 2008, it was hailed as a breakthrough facility that would have a lasting impact in the battle against cancer. IBJ's John Russell explains why, just 12 years later, IU Health officials are planning to abandon the 400,000-square-foot building and move its patient care and research operations elsewhere. Also in this week's issue, Samm Quinn explains why the city of Indianapolis is analyzing the makeup of city-county staff and whether the demographics match that of the overall city population. It appears city leaders have some work to do recruiting and retaining more minority employees—particularly Hispanic workers. And Mickey Shuey profiles architect Stephen Alexander, who has been a key figure in several projects to reinvigorate downtown south of the Mile Square.

Anthony Schoettle reports this week on the radio industry’s attempts at recovery after the pandemic gutted ratings and ad revenue in April and May. The numbers are getting better now that some folks are back to their regular commutes, but the pandemic’s timing couldn’t have been worse. Also in this week’s issue, Mickey Shuey examines the competing views of the wisdom behind expanding the Indiana Convention Center. And Kurt Christian explains how Noblesville officials are approaching planning for an 11-acre community gateway project south of downtown.

In this week's issue, Anthony Schoettle explains how some school districts are trying to make bus travel safer. Indianapolis-based tech firm Synovia Solutions began working this spring on a new platform that helps with contact tracing and hygiene verification on school buses. It has already signed on more than 250 districts. Meanwhile, John Russell explores why health insurers such as Indianapolis-based Anthem are reporting huge boosts in earnings in the second quarter. The windfalls are raising protests from doctors, hospitals and patients. And Samm Quinn details how the 350,000 immigrants in Indiana have become especially vulnerable to COVID-19—not just for health reason but also economic.

Indiana University Health’s plan to overhaul and expand its Methodist Hospital campus exacerbates a challenge already weighing on Marion County: huge swaths of land exempt from property taxes because they are owned by hospitals, educational institutions and other not-for-profits. John Russell examines the potential impact. Also in this week’s issue, Susan Orr sorts through the bushel of challenges suddenly facing downtown’s City Market, which have swept into the historic space with the speed of the pandemic. And Mickey Shuey explores the process of planning the $550 million redevelopment of Pan Am Plaza in a Q&A with Bill Browne, president of Ratio Architects.

In this week's issue, Samm Quinn explores how the pandemic has illuminated and magnified the challenges facing people experiencing homelessness in Indianapolis’ core. Susan Orr explains how a pandemic-related plunge in ridership and expected declines in tax revenue has led IndyGo to examine all of its operations for potential cost cuts. And Mickey Shuey details how dozens of Indianapolis-area bars, music venues and other performance spaces have banded together to fight for government assistance that they say is vital for them to survive.

Mickey Shuey takes a closer look at the hotel market downtown now that plans are firming up for the $550 million Pan Am Plaza project. The pandemic has had a paralyzing effect on several of the other projects in the pipeline, now that lending for hotel projects has dried up. Also in this issue, John Russell reports that some of the smaller hospitals across the state could be only months away from beginning the process of closing their doors. And Mike Lopresti has an on-the-ground report on the state of professional baseball, jumping from a college summer league game at the otherwise idle Victory Field in Indianapolis to a Reds game in Cincinnati played in a stadium without any fans.

This week, Lindsey Erdody explores how many not-for-profit groups that provide vital services for needy clients have been forced to cut back and modify their missions on the fly during the pandemic. Mickey Shuey digs into the co-dependent relationship between downtown’s restaurants and the city’s hard-hit convention and tourism business. We have an in-depth interview on the topic of downtown’s survival with Mayor Joe Hogsett. He was grilled by the IBJ editorial board about a variety of concerns, including the city’s response to rioting and looting last month and the potential that the loss of convention business could start a chain reaction that debilitates downtown. And be sure to check out IBJ's annual list of the 25 fastest-growing companies in the Indianapolis area.

Although the city’s $575 million criminal justice center project appears to be on track to meet goals for hiring minority contractors, advocates say the goals should be higher given the national focus on economic equity. Samm Quinn sheds light on the efforts to attract and support minority contractors. Also in this week’s issue, Kurt Christian reports that a developer has hit pause on an ambitious plan to add apartments, offices and a hotel to Carmel’s Clay Terrace shopping center. And Mickey Shuey sorts through the mess of debt left by retail developer Craig Johnson when he committed suicide in May.

In this week’s issue, John Russell examines how the federal government dispersed hundreds of millions of dollars in pandemic relief funding to Indianapolis-area hospitals and other health care providers. John finds that the amounts received didn’t necessarily correspond with each organization’s need. Samm Quinn and Anthony Schoettle take the temperatures of downtown's largest office tenants to get a sense of how quickly they plan to bring back their full workforces. And Mickey Shuey checks into how hotels outside downtown are doing and finds that while they’re slowly rebounding on the whole, the properties in the northern suburbs are making up ground faster than the rest.

Kurt Christian has the latest on the roadwork under way along State Road 37 in Hamilton County, which officials already estimate will go $47 million over budget. The kicker is that local residents will be responsible for picking up the cost of the overruns. Susan Orr reports that Indiana and Ohio have received grants to study and advance the use of semi-autonomous trucks traveling on I-70 between Indianapolis and Columbus. And Anthony Schoettle has a little ditty about the local music instruction company, Piano in a Flash, which recently saw its revenue more than triple practically overnight. You might know Scott Houston from the PBS show "The Piano Guy," but it took a pandemic to push the popularity of his online lessons to new heights.

Within days of a group of Indiana utilities asking regulators for permission last month to charge ratepayers for revenue they stood to lose because of the COVID-19 pandemic, thousands of people from all corners of Indiana sent a flurry of complaints to the Statehouse. Utilities say they are dealing with a rare challenge, but the outpouring of reaction seems to show that Indiana customers are in no mood for another rate increase, John Russell reports. Also in this week’s issue, Greg Andrews surveys the renewed hostilities between real estate magnates David Simon and Bobby Taubman now that Simon is pulling back from a $3.6 billion to buy the latter’s company. And Susan Orr explores the difficulties that Indiana economists face when trying to forecast the future of the state’s economy.

In this issue, Lindsey Erdody takes stock of how the state plans to dole out the $2.6 billion in relief aid it was allocated by the federal government. The issue also includes a look at the performance of car dealers, who are struggling with depleted inventories at the same time customers are returning to showrooms. And Greg Andrews' Behind the News column looks at the push and pull between retail landlords and tenants over whether tenants should receive rent concessions. In addition, the issue includes the latest installment of Impact Indiana, including a story on a business-community partnership that's seeking to reduce diabetes in three neighborhoods.  

After taking the one-two punch of the coronavirus crisis and damage from rioting, downtown is at a crossroads. The latest issue of IBJ tackles the question of how the city's core can recover. And Vop Osili, Erica Wells, Deborah Daniels and Marshawn Wolley share their perspectives on what needs to come next. Also in this issue, Marc Allan examines how WISH-TV Channel 8 has covered the racial equality demonstrations, their sometimes violent aftermath and the city’s response. Last year, WISH was purchased by Indianapolis native DuJuan McCoy, who became the only black owner of a TV station in a Top 50 U.S. market. One of his goals as an owner has been to increase and deepen the station’s coverage of diversity issues. And Anthony Schoettle reports on the run on bicycles at local bike shops, as riding has surged in popularity during pandemic lockdowns.

Our sixth annual Innovation Issue takes a deep dive into “design thinking”—the name for a particular way of coming up with products and services to solve customers’ problems. It also explores how implicit bias can undermine innovation and how a little-known not-for-profit is helping pioneer innovation at the intersection of power and transportation. In addition, check out profiles of the Low brothers, who are serial entrepreneurs in the field of life sciences, and Beth St. Clair, who's using improv to foster leadership and teamwork in the workplace.