Despite Indiana’s economic development successes, industry experts say the state must do more to attract multibillion-dollar megadeals like ones other states have recently landed.
Sen. R. Michael Young, R-Indianapolis, is pushing a bill that would require the Metropolitan Development Commission to notify Marion County’s independent cities and towns before it considers tax abatements for development projects in each city.
House Republican leaders want to reduce the personal property taxes businesses pay on equipment, claiming it is one of the last tax obstacles in recruiting new businesses and spurring growth for businesses already here.
The company, which offers cloud-based software and other products for call-center operators, has a significant presence in Indianapolis but it’s unclear how the recent investment might affect local operations.
Indiana Secretary of Commerce Brad Chambers has a vision for the state to “shoot higher” in its economic development efforts, which he outlined Thursday morning in a five-point strategy.
A Carmel-based development firm plans to spend $70 million or more to turn agricultural fields in Noblesville into the site of three industrial buildings called Saxony Industrial Center.
OrthoIndy is planning to expand its presence in Westfield by moving out of its current leased space and building a new $12.5 million facility all its own near State Road 32 and Austrian Pine Way. If approved, it could open to the public next summer.
More than 22 million square feet of space is already under construction, with some brokerages estimating several million more will break ground by the end of the year.
The 10-story tower in northern Hamilton County is one of the largest soybean processing towers in the world, capable of processing three million bushels of soybeans annually, doubling Beck’s processing at the location.
Calumet, which acquired Muncie-based Paralogics LLC in March 2020, now says it plans to expand the facility and hire up to 20 more employees there by 2025.
The $600 million project, announced in 2015, included upgrades to the facilities, machinery and manufacturing processes at Rolls-Royce’s Indianapolis operations. A pandemic-delayed celebration of the project is scheduled to take place Wednesday afternoon.
The development, called 1202, would feature 105 units on a 1.1-acre parcel on the near-south side, with at least one-fifth of the units reserved for individuals making up to 80% of the area’s median income.
Indy Parks said Tuesday that it expects to spend more than $20 million to acquire the 40,000-square-foot facility and avoid shelling out nearly $1 million per year as part of a long-term lease agreement.
Fishers-based Quantigen Biosciences is spending $2.5 million to redevelop 40,000 square feet of office space along Interstate 69 as its new specialty contract research laboratory.
The project agreement offers Italy-based Stevanato Group a 15-year tax abatement, a $2.4 million commercial property grant and nearly 36 acres the city plans to buy at 126th Street and Cumberland Road.
The United Kingdom-based aircraft engine manufacturer is expected to jettison about 270,000 square feet of office space on its 2.2-acre campus at 450 S. Meridian St. About 3,000 people worked in the company’s downtown offices prior to the pandemic.
Washington Prime Group, which filed for bankruptcy Sunday, said it may end up selling some or all of its properties as part of its restructuring. The company also owns several other local retail centers.
Daechang, which makes seating components for Kia, Hyundai and Subaru, established its North American headquarters in Indianapolis in 2017. The Franklin facility would be its second local site.
Opus Development Co. plans to develop up to four buildings on the land in the Mount Comfort corridor, including a 862,000-square-foot distribution facility for Atkins Nutritionals.
