Indianapolis Business Journal

Indianapolis-based Lilly Endowment Inc. is the third-largest private charitable foundation in the country and has given hundreds of millions of dollars to arts organization in the city. But once you cross 96th Street? Nothing. The longstanding policy is to keep funds in the city in which Eli Lilly and Co. was founded. Lindsey Erdody reports that Carmel’s arts leaders and Mayor Jim Brainard say it might be time for the foundation’s board to reconsider. Also in this week’s issue, Hayleigh Colombo reports that the Hogsett administration is racing against a deadline to tear down blighted and abandoned homes with $3 million it has remaining from a federal grant. And Scott Olson explores the latest obstacle to the creation of a $3 million fund to spruce up downtown.

The Pacers should have little problem securing a new naming-rights sponsor for its downtown home that will pay at least double the current rate of $2 million a year, experts say. And the field of companies willing to pony up that kind of dough is bigger than you might think, Scott Olson reports. Also in this week’s issue, Hayleigh Colombo reports that Indiana businesses and individual taxpayers might have double the work (and double the cost) to calculate their taxes next year. And in Focus, Anthony Schoettle conducts a deep dive into the innovative venture studio High Alpha and the fledgling companies it has helped birth.

While it might appear at first glance that Emmis Communications Corp. CEO Jeff Smulyan is preparing to either liquidate or parachute out of the company he founded in 1979, he says that couldn’t be further from the truth. Anthony Schoettle outlines the direction Smulyan wants to take the company. Also in this week’s issue, Hayleigh Colombo explains the latest effort to charge a commuter tax for folks who work in Indianapolis but work outside its boundaries. And in Focus, Cory Schouten explores the evolving plans for The Yard at Fishers District—now featuring restaurants, apartments and a hotel.

The recruiting scandal roiling men’s college basketball is sure to cast a cloud over the NCAA tournament—a cash cow that brings in hundreds of millions of dollars annually to the Indianapolis-based not-for-profit. Scott Olson examines the potential ramifications. Also in this week’s issue, Lindsey Erdody details how Carmel philanthropists and sisters Deborah Simon and Cindy Simon Skjodt have become big-time campaign donors on the national level in this election cycle. And Hayleigh Colombo reports that the Hogsett administration and City-County Council are weighing whether to kill a little-known organization that has quietly worked the past two decades on the redevelopment of key downtown projects.

This week, Hayleigh Colombo examines Gov. Eric Holcomb's international economic-development strategy, which in 2017 helped reap 40 trade deals and capital projects totaling $1.87 billion. Also in this issue, John Russell takes a look at the headway IndyGo is making in efforts to improve the health of its drivers and control insurance costs. In addition, Scott Olson takes a look at the high-stakes upcoming season for IndyCar.

The $1 billion hospital complex planned for 96th Street in Carmel is just the latest evidence that central Indiana’s health care construction binge is continuing full throttle. John Russell reports that some in the health care industry are afraid that all of this construction could push up the cost of care. Also in this week’s issue, Lindsey Erdody examines the big influx of female candidates for political office, sparked in part by the 2016 presidential election and the #MeToo movement. And in Explore, Lou Harry charts the evolution of ComedySportz Indianapolis.

Downtown residents and office workers have been clamoring for a Target for decades, and the impending exit of Carson’s from Circle Centre mall could be a tempting spot for retailer. But there’s another option downtown that might make even more sense, Greg Andrews reports. Also in this week’s issue, Scott Olson explains how proposed state legislation could pop the cork on more alcohol permits for growing sections of the Indy area. And in IBJ’s new Explore section, we explore the boomlet in bar-based, pop-culture trivia contests.

The members of this year’s Forty Under 40 class include Gov. Eric Holcomb’s legislative director, an entrepreneur who trains kids to be ninjas, and one of the journalists who broke the USA Gymnastics scandal. Meet all 40 of this year’s overachievers here. Also in this week’s issue, John Russell tries to suss out whether Anthem Inc. is still committed to keeping its headquarters in Indianapolis as it vacates its Monument Circle home and builds an office tower in Atlanta. And in A&E Etc., Lou Harry reviews the much-anticipated Ukiyo from chef/restaurateur Neal Brown.

The luxury home market in the Indianapolis area is hot—and possibly getting hotter. Scott Olson explains why big-ticket houses are selling in eye-popping numbers. Speaking of big figures, the tax incentives offered to Amazon to located its HQ2 project in the Indy area likely reach to $500 million, according to an analysis by IBJ’s Hayleigh Colombo. And in A&E Etc., Mike Lopresti tracks the gaudy numbers being posted by hoops sensation Romeo Langford.

Everybody knows that landing Amazon’s secondary headquarters would be a game-changer for any city. IBJ asked economists to sketch out some specifics about how HQ2 would change central Indiana. Also in this week’s issue, Lindsey Erdody explores how local not-for-profits are preparing for changes in charitable giving due to tax reform. And in A&E Etc., dining critic Lou Harry reviews Three Carrots, the new vegetarian oasis on Virginia Avenue.

As the Indiana Department of Transportation moves forward with plans for a major construction project at the north split of interstates 65 and 70, a grassroots coalition of residents with concerns about the project’s impact on surrounding neighborhoods is also gaining steam. Susan Orr reports on the effort to make the state hit the brakes and review its options. Also in this week’s issue, John Russell explains how Eli Lilly and Co. is shifting its strategy for filling its drug pipeline. And in A&E Etc., Lou Harry reviews a new outpost for Basque cuisine above Brugge Brasserie.

Thanks to a blockbuster donation, the Great American Songbook Foundation now has the expensive responsibility of maintaining the 107-acre Asherwood estate, including paying a nine-person maintenance staff. Lindsey Erdody examines the implications for the small not-for-profit. Also in this week’s issue, Anthony Schoettle reveals the unusual reason why plans for a $25 million skating complex in Greenwood have stalled. And in Focus, IBJ asks several local investment advisers to forecast the fate of the current bull market.

City and hospitality officials have started laying the groundwork for development of what would be one of downtown’s largest hotels, an effort to accommodate demand for rooms booked for conventions and other big events by Visit Indy. Anthony Schoettle explains how officials are trying to move the effort forward. Also in this week’s issue, Lindsey Erdody has the lowdown on the biggest gifts given to Indiana not-for-profits in 2017, with one clear winner. And in A&E Etc., Lou Harry reviews Crispy Bird, the latest concept from the Patachou family of eateries.

Central Indiana lost some of its most prominent locally based companies in 2017, including Marsh and HHGregg, while Salesforce put its name on the state’s tallest building and tech giant Infosys announced it would bring 2,000 jobs to Indianapolis. Those stories made IBJ’s year-in-review issue, which is combined with our annual Book of Lists.

Victor Oladipo has gone from good to great in his transition from the Oklahoma City Thunder to Indiana Pacers. Anthony Schoettle reports that his all-star-caliber play and natural charisma help the team in myriad ways and make him a tantalizing candidate for sponsorships. Also in this week’s issue, Mike Lopresti calls on some of the best-recognized voices in the state to share stories of broadcasting sports for a living. And in A&E Etc., Lou Harry reviews the new outpost for Matteo’s Ristorante Italiano.

When downtown’s upscale Cerulean stops serving on Dec. 31, it will mark the end of a brutal year for the local restaurant industry marked by an unusually high number of closings. Scott Olson links the local situation to the national restaurant recession. Also in this issue, Lindsey Erdody reports that Westfield is moving forward with a proposal from the mayor’s nephew to construct a baseball training facility at Grand Park Sports Campus. The curve ball: A local baseball training academy says it pitched a similar plan to the mayor before the city decided to seek proposals. And in A&E Etc., Lou Harry reviews two new breakfast spots in Carmel and Irvington.

Three residential projects planned south of bustling Massachusetts Avenue could bring about $25 million of new investment and even more density to the growing area. Scott Olson has details. Also in this week’s issue, Susan Orr examines the central challenge facing car-sharing program BlueIndy: How do you succeed when so many potential customers are unaware of, uninterested in, or even intimidated by what you’re trying to sell? And in A&E Etc., Lou Harry attempts to achieve a peak experience at TopGolf.

One little bar, barely the size of a rail car, has anchored mighty Mass Ave throughout its 35-year renaissance—and arguably has been its single most important property. Sam Stall explores the significance of The Chatterbox and gets the lowdown on what owner David Andrichik has planned for the future. Also in this week’s issue, Anthony Schoettle explains how Inside the Hall has become one of the most important sources of information on IU hoops. And in A&E Etc., Lou Harry reviews Prodigy Burger & Bar in Carmel.