MacAllister seeks $2.7M tax break from city on HQ project
The Indianapolis-based distributor of Caterpillar equipment is planning a 300,000-square-foot campus on the southeast side and 70 hires over five years.
The Indianapolis-based distributor of Caterpillar equipment is planning a 300,000-square-foot campus on the southeast side and 70 hires over five years.
Developers planning a new Home2 Suites by Hilton in downtown Indianapolis are asking the city for a property-tax break on the project that could save them more than $650,000.
City officials have selected Deylen Realty’s proposal to build a five-story apartment-and-retail project on a surface parking lot the city has owned for years.
The cost of luring a firm to town has skyrocketed, while the benefits have plummeted. The United States has created more than 90 million net new jobs over the past 45 years, but fewer “attractable” jobs are available today than in 1969.
A tax-abatement request for the project filed with the city last week said the 434,400-square-foot flex industrial building will be built on a speculative basis.
The Fishers Town Council is set to consider an economic development deal for growing sign company AI Innovations after a high-potential lighting firm’s project fizzled.
Carmel, Fishers and Noblesville are trying to head off appeals that cause tax revenue to come in lower than expected, especially for projects within tax-increment-financing districts.
The company, one of Hendricks County’s largest employers, said the expansion will help it retain 700 workers at its flagship plant
Companion Diagnostics Inc., a biotech company that relocated to Indiana from Connecticut in 2010, has entered bankruptcy reorganization while it tries to develop a therapy for inflammation.
Once home to the regional headquarters for telecommunications firm GTE, a long-vacant two-building office campus on U.S. 31 in Westfield is slated to get a new tenant.
California-based Carrington Mortgage Services said Thursday it plans to spend $3.2 million to open an office in Westfield. In addition to the new hires, about 180 employees in Fishers would move to the Westfield location.
Size and age complicate the sale of several prominent structures in Boone and Hamilton counties.
The home-improvement retail giant plans to hire 1,000 workers for the center at Intech Park on the northwest side. The jobs would pay an average hourly wage of about $16.
A Carmel-based institutional pharmacy plans to invest $8 million expanding its Noblesville operations, which include its headquarters. On Tuesday, it received its second tax-incentive deal from the city in two years.
Ohio-based Cardinal Health Inc. wants to open a $14.4 million drug-production facility that would employ 85 workers by 2017. A Cardinal subsidiary, Cardinal Health 414 LLC, produces a cancer treatment locally at a compounding center on Georgetown Road. The Indianapolis Department of Metropolitan Development said Cardinal wants to expand production of the medication by opening a second facility in an existing 64,000-square-foot warehouse at 4343 W. 62nd St. If the project goes forward locally, the company said it would spend $11.5 million to make the building suitable for pharmaceutical production and another $2.9 million in manufacturing and research equipment for the facility. Cardinal wants a tax abatement valued at $690,297 over 10 years. During that time, the company still would pay $648,169 in property taxes.
Consolidated Insurance Services Inc. has merged with Shepherd Insurance, creating an insurance agency with eight Indiana offices, 145 agents and more than 160 employees. Consolidated will now operate as Consolidated Shepherd Insurance, while Shepherd will maintain its name. Shepherd is based in Carmel and has offices in Noblesville, Greenfield, Columbus, Evansville and Seymour. The agency, which in recent years has bulked up its presence in health insurance, was founded in 1977 by Dave Shepherd, who won Indiana's Mr. Basketball award in 1970 while at Carmel High School. Consolidated, founded in 1932, is led by Rex Early, the former Republican state chairman and gubernatorial candidate.
Eli Lilly and Co. and a partner drugmaker won tentative regulatory approval for a once-a-day insulin that will compete with Lantus, the blockbuster insulin made by France-based Sanofi SA. Called Basaglar, the drug is approved for adults with type 2 diabetes and in combination with mealtime insulin for adults and children with type 1 diabetes. Lilly co-developed the drug with Germany-based Boehringer Ingelheim GmbH. The approval is tentative because of a claim of patent infringement filed by Sanofi. The U.S. Food and Drug Administration cannot give final approval of Basaglar until mid-2016, unless courts find in favor of Lilly earlier.
Eli Lilly and Co. will submit its experimental psoriasis drug for regulatory approval after the medicine helped six times as many patients participating in clinical trials completely clear up their skin irritations as an existing treatment. Lilly’s drug, ixekizumab, is in a race with two others to be first in a new class of psoriasis treatments to reach the market. Lilly expects to submit the drug to regulators—most likely in the United States, Europe and Japan—in the first half of 2015. The commercial prospects for ixekizumab are uncertain. Before Thursday’s announcements, Wall Street analysts expected the drug to fall short of $1 billion in annual sales by 2020. Switzerland-based Novartis AG already has submitted its drug for psoriasis to the FDA, and expects a decision as early as year’s end. California-based Amgen Inc. has partnered with United Kingdom-based Astra Zeneca plc on a new drug for psoriasis, but they have yet to complete late-stage testing.
Becknell Industrial LLC has proposed a $26 million, three-building development on the northwest side of Indianapolis that would be ready for tenants by early 2015.
A subsidiary of Dublin, Ohio-based Cardinal Health Inc. is seeking tax breaks from the city of Indianapolis to help it open a $14.4 million local drug-production facility that would employ 85 workers by 2017.
Aearo Technologies didn’t fulfill its job-creation promises under a 2007 tax abatement agreement with the city of Indianapolis, but it did spend nearly $16 million on buildings and equipment.
Local developer Reverie Estates is converting the administration building, now known as the Central State Mansion, into 67 dormitory-type rooms for student housing and welcomed its first tenant late last month.
The fast-growing local company, which already employs more than 200, plans to add up to 105 workers by 2024.