As students left IPS, leaders paid COVID aid to company to get them back
The district’s $269,600 deal with Caissa highlights the increased competition Indianapolis Public Schools is confronting from local charter schools and vouchers.
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Property loans are so unappealing that banks want to dump them
This year’s rise in borrowing costs has made commercial real estate one of the hardest-hit areas of the economy. Property sales, especially for office buildings, have slowed to a trickle, giving landlords and lenders few markers to determine the value of certain assets.
Trucking giant Yellow Corp. declares bankruptcy after years of financial struggles
The Chapter 11 bankruptcy filed Sunday arrives just three years after Yellow received $700 million in pandemic-era loans from the federal government. Yellow has hundreds of workers in Indiana.
Tyson Foods closing 4 chicken processing plants, including one in Indiana
In a cost-cutting move, Tyson said it will shift production to other facilities and halt operations at the four plants in the first two quarters of fiscal 2024.
Gen Con extending its stay in Indianapolis through 2030
Fresh off a record year for attendance, the Seattle-based tabletop gaming convention has signed a four-year extension to its contract with tourism agency Visit Indy.
IBJ Podcast: Farming challenges mount as Indiana gets hotter and wetter, but crops will have staying power
Three members of Purdue’s agronomy faculty—including an expert in soybeans and an expert in corn—explain how climate change is playing out on the ground in Indiana farm fields.
Purdue board OKs new $12M airport terminal, 900-bed residence hall
Rob Wynkoop, vice president of auxiliary services at Purdue, said the university has been actively exploring the return of commercial air service to the airport.
EPA’s ambitious plan to cut auto emissions runs into skepticism
The U.S. government’s most ambitious plan ever to slash planet-warming greenhouse gas emissions from passenger vehicles faces uncertainty over both about how realistic it is and whether it goes far enough.
Big Ten Conference adds Oregon, Washington as members
Meanwhile, the Big 12 completed its raid of the beleaguered Pac-12 by adding Arizona, Arizona State and Utah.
Indiana sports wagers begin to dip as neighboring states join the market
Last year, Indiana sports betting peaked at $4.4 billion worth of bets, but Hoosier sports wagers slowed in the first half of 2023 when Ohio joined the fray. For instance, in June, sports betting in Indiana was 13% lower than the $256 million registered in June 2022.
Momentum builds to turn dormant far-east-side high school into services hub
The Indianapolis Department of Metropolitan Development has started soliciting ideas for what could be done with the site of the former John Marshall High School, which it purchased from Indianapolis Public Schools for $725,000 last month.
History museum planned as Carmel’s latest attraction
The Carmel Clay Historical Society broke ground in June on the 10,000-square-foot museum at the southwest corner of First Street SW and Monon Boulevard, along the border between Midtown and the Arts & Design District.
Out-of-state coffee shops pour into Indy
Time will tell whether Hoosier hospitality is reciprocated to a wave of coffee retailers that built customer bases in other states before setting up shop here.
Inaugural Rally conference aims to draw innovators
The Aug. 29-31 event at the Indiana Convention Center will have 220 speakers, five pitch competitions offering up to $5 million in total prize money, and hundreds of meetings between entrepreneurs and investors representing multiple industries.
Duke Energy’s coal-gasification plant goes 3 months without producing power from coal
Duke Energy Corp.’s $3.5 billion Edwardsport plant was costly to build because of its ability to produce gas from coal. But the plant generated all of its electricity from natural gas in April, May and June.
Budget leaders approve $120M to attract unannounced $3.2B project
The mystery project involves a company in the “advanced technology automotive components” industry and would be located somewhere in north-central Indiana, according to the IEDC.
Pence seizes on Trump’s latest indictment as he looks to break through in crowded GOP field
Mike Pence’s campaign has unveiled new T-shirts and baseball caps featuring the phrase “Too Honest” in big red letters—a reference to an episode in the indictment.
Noble Roman’s faces investor lawsuit in ongoing proxy war
Indianapolis-based Noble Roman’s Inc., which is battling one of its biggest shareholders over whether to replace CEO Scott Mobley on the restaurant company’s board of directors, is now facing a lawsuit from that shareholder over the same issue.
U.S. employers added fewer-than-expected 187,000 jobs in July
Despite the influx of workers, average hourly wages rose 0.4% from June and 4.4% from a year earlier—numbers that were hotter than expected and are likely to worry the Federal Reserve.
Riley Children’s Foundation lands $10M gift from Walther Cancer Foundation
Walther will provide a one-for-one match for donors who establish endowed children’s cancer research funds at Riley Children’s Foundation, a move that could result in at least $20 million for research of new treatments of children’s cancers.