A local homebuilder is pressing forward with plans to build a “green” residential development in Zionsville, despite the troubled economy. Kai Yu of Kai Yu Home Builders LLC is planning to build 22 custom, single-family homes priced between $500,000 and $1 million on nearly 18 acres of land along Turkey Foot Road, five miles north […]
Indianapolis has entered into a partnership with Holladay Properties in which the developer will construct nine distribution-type buildings at its AmeriPlex Business Park on the city’s west side in exchange for tax incentives. Mayor Greg Ballard made the announcement this morning at a Greater Indianapolis Progress Committee board meeting at WellPoint Inc.’s downtown headquarters. The […]
MD Logistics has completed a coldstorage facility for pharmaceutical products in its hometown of Plainfield.
Mayor Greg Ballard announced yesterday the creation of a city office that will combine civil licensing and permitting functions into one entity. The Office of Code Enforcement is part of an effort to make Indianapolis safer and more livable by better enforcing environmental and other quality-of-life-related laws, the mayor said. “From the outset, I’ve been […]
Hotel toiletries maker Gilchrist & Soames said today it plans to spend $3 million to expand its Indianapolis headquarters and manufacturing operations, creating more than 40 jobs by 2014. The company, purchased by San Francisco-based private equity firm Swander Pace Capital for $51 million in 2007, supplies bath and body products to luxury hotels and […]
Chain system manufacturer Iwis Drive Systems LLC today said it will expand and relocate its Indianapolis operation, adding 40 employees to its roster of 18. A subsidiary of the Germany-based Iwis Group, the company plans to invest more than $1.5 million to upgrade equipment and move from its current facility near the Indianapolis airport to […]
Property tax abatements granted by the city of Indianapolis last year should help create more jobs than in each of the previous three years. Numbers released by the city for 2008 show companies receiving abatements committed to 2,423 new jobs. Among the projects: – AIT Laboratories plans to create more than 130 jobs in the […]
The city has decided to support a request by Buckingham Cos. to abate part of the additional tax liability stemming from its $2.5-million renovation of…
As real estate professionals well know, a troubled economy is making it harder to negotiate and close deals. However, buying or leasing real estate in a troubled economy also provides great opportunities for buyers and tenants. Real estate brokers often talk about it being a buyer’s and renter’s market and focus on selection and price; however, there are several other benefits when buying or leasing commercial real estate in a troubled economy. These additional benefits include tax abatements or credits…
The city is taking a second look at a tax abatement request for the historic Stokely-Van Camp building at 941 N. Meridian St. Developer Buckingham…
Global relocation giant Sirva Inc. announced plans this morning to centralize its national moving-services headquarters in Fort Wayne, creating 240 new jobs by 2011. It already employs 450 there. The firm, which operates Allied Van Lines and North American Van Lines, will invest more than $16 million to consolidate its Illinois-based national moving services operations […]
Schwarz Pharma Manufacturing Inc. today announced a $12 million expansion of its Seymour manufacturing plant and distribution center, a move that’s expected to increase the company’s employment in the southern Indiana city from 366 to 516 by 2011.The drug maker-a unit of Schwarz Pharma AG of Monheim, Germany-said it plans to begin hiring managers, business […]
MORGAN COUNTY Plastics firm building new HQ A home-grown firm that manufactures a variety of plastic products is building a $2 million, 44,000-square-foot headquarters in Mooresville’s Flagstaff Business Park. Mt. Olive Manufacturing is moving from 35,000 square feet it now occupies in the Plainfield Business Park. It is set to receive about $200,000 in tax […]
Regional economic development experts say cities must woo talented people while they’re young–in
their 20s or early 30s–because, after that age, people tend to hunker down. The Indianapolis area apparently appeals to at
least two key groups of young people–particularly those already married, according to a new study by researchers at IUPUI.
Locally based Ingersoll Rand Security Technologies plans to expand its east side manufacturing operations, creating 40 jobs, the Indiana Economic Development Corp. announced this morning. The 100-year-old company makes panic release bars and electronic security products for exits. It will invest $6.1 million to upgrade equipment at its Tobey Drive plant, which already employs 530. […]
Carmel startup wades into Florida hurricane market Firm pioneers product to cover insurance deductibles The turbulent winds that hit the property-casualty insurance market after the destructive Gulf Coast hurricanes of 2004 and 2005 have blown over Indiana with hardly a bent weather vane. But that hasn’t stopped a new Carmel company from trying to make a buck helping Florida homeowners and businesses handle their now-staggering insurance costs. This month, Citon Group Inc. started marketing its new breed of insurance-designed to…
The turbulent winds that hit the property-casualty insurance market after the destructive Gulf Coast hurricanes of 2004 and 2005 have blown over Indiana with hardly a bent weather vane. But that hasn’t stopped a new Carmel company from trying to make a buck helping Florida homeowners and businesses handle their now-staggering insurance costs. This month, Citon Group Inc. started marketing its new breed of insurance-designed to cover hurricane deductibles-to Florida insurance agents. “We’re really at the very beginning of this….
Indianapolis-based Pharmakon LTC Pharmacy Inc. will pay an average of $50,000 a year to each of the 52 employees it plans to add in the next five years. The institutional pharmacy will move to a larger headquarters and warehouse in Carmel as part of its expansion, Indiana Economic Development Corp. said today. The $1.2 million […]
McGowan Insurance Group plans to build a new 19,000-square-foot headquarters on a triangle-shaped property at 340 N. Capitol Ave. where an ealier proposal called for 30 condos and a bank….
McGowan Insurance Group Inc. plans to spend $2.5 million to build its new headquarters at 340 N. Capitol Ave. As part of the expansion, McGowan will also add 13 jobs. The office building will occupy what is now vacant land east of Bourbon Street Distillery. McGowan announced the plan this morning. The 75-year-old insurance agency […]
