Indiana underestimated Medicaid cost by nearly $1 billion, report says
The flawed forecast was based on data that did not reflect the latest needs of enrollees, state agencies said.
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U.S. consumers more confident as holiday shopping season peaks
Americans’ expectations of a recession in the next 12 months have declined to the lowest level so far this year.
IEDC boosting funding to support entrepreneurism, innovation
Among the updates are a boost in annual funding for venture development in partnership with venture firm Elevate Ventures and the creation of a $3 million pre-seed fund.
State lawmakers admonish gambling regulation agency, which defends processes
Key Republican lawmakers on Tuesday scolded the Indiana Gaming Commission over how it levies fines and more—and threatened to take legislative action if changes aren’t made.
Carmel firm raises $116M to advance anti-inflammatory drugs into human testing
The investment in Sudo Biosciences, a three-year-old Carmel biotech, is one of the largest in recent years for an Indiana-based science startup, a signal that investors are attracted by its work on a class of drugs to treat autoimmune and inflammatory diseases.
Hendricks strikes deal to acquire Circle Centre, plans $600M redevelopment
The Wisconsin-based firm behind Mass Ave’s Bottleworks District plans to spend the next decade transforming the downtown mall into an open air, pedestrian-focused campus with housing, offices and shopping.
Alcoholics Anonymous to host 2035 convention in Indianapolis with 60,000 attendees
Alcoholics Anonymous holds its event every five years. Local tourism leaders pitched the sobriety group on Indianapolis in late 2022, with representatives visiting this August.
102 million people eligible for Google’s $630M lawsuit settlement
At least 70 percent of eligible consumers, or 71.4 million people, are expected to receive automatic payments without having to file a claim.
IRS to waive $1B in penalties for people, firms owing back taxes for 2020 or 2021
Nearly 5 million people, businesses and tax-exempt organizations—most making under $400,000 per year—will be eligible for the relief starting this week.
State Budget Committee OKs nearly $300M in IEDC incentives, LEAP enhancements
The State Budget Committee, which consists of four lawmakers and the state budget director, voted unanimously to authorize the spending, though Democrats on the committee expressed deep reservations about the IEDC’s requests.
Westfield strikes 40-year, $300M deal for partnership to manage Grand Park Sports Campus
Under the partnership that includes Keystone Group and Indy Eleven, future plans for Grand Park include a mix of restaurants, hotels, public spaces, a mixed-use complex with residential, office and retail spaces, and a state-of-the-art sports facility.
State, Lafayette officials say no action on pipeline without completed study, legislative review
The Indiana Economic Development Corp. has faced pushback for proposing a pipeline that would transport as much as 100 million gallons of water per day from Wabash River aquifers to a massive business development in Lebanon.
Community Health agrees to pay $345M to settle ‘false claims’ lawsuit
Community Health Network has agreed to pay the United States government $345 million to settle allegations that it engaged in a years-long scheme to recruit physicians and pay them huge salaries and bonuses in return for “downstream referrals” on medical procedures.
UPDATE: Taco Bell Cantina franchisee schedules opening despite lawsuit
A lawsuit claims the planned Cantina is too close—within one-tenth of a mile—to Circle Centre Mall’s Taco Bell, setting up unfair competition in violation the Indiana Deceptive Franchise Practices Act.
INDOT gifting biodiverse 10-acre property to Central Indiana Land Trust
The piece of land in Hancock County known as Founders Fen is home to numerous indigenous and rare plants, including the state-endangered Canadian burnet along with the Indian plantain, queen of the prairie and the white turtlehead.
Apple races to tweak software ahead of looming U.S. watch ban
In the meantime, Apple has begun preparing stores for the ban, including sending new signs to its retail outlets that promote the Apple Watch without showing photos of the Series 9 and Ultra 2.
Retailers improving delivery speeds, meaning good news for late holiday shoppers
Walmart, Target and Amazon are all-in on the shipping wars, a move retail experts say will help them maintain a competitive edge against low-cost Chinese retailers Shein and Temu.
Google to pay $700M to U.S. states, consumers in app store settlement
Although Google struck the deal with state attorneys general in September, the settlement’s terms weren’t revealed until late Monday.
First Dog Henry Holcomb dies at 13
The miniature schnauzer had survived a terrible dog attack as well as surgeries, a prolonged life-threatening auto immune disorder and bladder stones.
IEDC touts record-breaking year for economic development
The state’s job-creation agency says it secured $28.7 billion in new capital expenditures in 2023, a 29% increase over the the previous year. But some of the projects on the list are yet to be announced.