Bill seeks to boost Indiana tourism projects through tax rebates, special districts
Under House Bill 1223, the Indiana Destination Development Corp. could soon have a few new tools to incentivize tourism development.
Economic Development Incentives
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California-based med tech company to relocate to Westfield
PhysioLogic Devices Inc. will change its name to Portal Diabetes Inc. following the company’s move. It plans to employ up to 35 full-time employees by 2028 with an average salary of $135,265 each.
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Timeline firming up for converting Gold Building to apartments as construction costs climb
Last month, city officials and the two developers reached a tentative deal for addressing key elements of the overhaul of downtown’s City Market block, including reskinning the Gold Building and renovating the adjacent Ohio Street parking garage.
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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.
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Canadian Solar plans $800M production facility, 1,200 jobs in Indiana
A global developer of large-scale solar power plants and battery storage projects is expanding into southern Indiana, the Indiana Economic Development Corp. announced Monday.
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UPDATE: Meta’s planned $800M investment in Lebanon could lead to $4.8B, mayor says
The Lebanon City Council on Monday night approved the creation of a tax-increment financing district and performance-based incentives to try to secure a deal with the parent of Facebook and Instagram.
Colorado business seeks tax abatement on Pike Township battery storage project
The proposed battery farm would store electricity during times when there’s excess power on the grid and then discharge the energy back into the grid during times of peak demand.
Indianapolis aviation companies plan significant expansions
Dabico A-Bridge LLC and its parent company, Dabico Airport Solutions LLC, plan to expand their Indianapolis facilities and add another 151 jobs by the end of next year.
Zionsville-based tech startup Adverank plans to add 37 employees
Zionsville-based software startup Adverank has reached an incentives agreement with the state based on its expansion plan.
SK Hynix lands $450M in federal CHIPS Act funding for Indiana facility
The funding is in addition to the $700 million the company will receive through an incentive agreement with the Indiana Economic Development Corp.—one of the the largest economic development deals in Indiana history.
Texas-based developer abandons Old Meridian Apartments project in Carmel
Old Meridian Apartments, a $60 million proposed project by Cross Development LLC, was called off because the city’s incentive for the project was not enough to make it feasible for the developer.
Indianapolis-based IT firm plans major expansion, adopts new name
Indianapolis-based information technology firm Sondhi Solutions has rebranded as Exos Cos. and plans to add 250 new employees by the end of 2028.
Stevanato commits to paying Fishers employees a living wage
Stevanato, an Italian-based life sciences company that makes glass vials and syringes for pharmaceuticals, has committed to paying employees at its new Fishers facility no less than $70,000 annually.
HR-tech firm UKG eliminating 2,200 jobs, including some in Indianapolis
UKG informed employees earlier this week that it was cutting about 14% of its workforce so the company could “aggressively focus on critical areas of growth.”
Developer sues Lebanon for tech park fallout, citing LEAP District as city’s priority for water use
South Carolina-based RealtyLink is suing Lebanon for more than $25 million, alleging the city withdrew incentives after the project was delayed by the city’s inability to service the park with water.
IEDC announces $27.1B in pledged investments so far in 2024
This year-to-date total investment figure nearly eclipses last year’s total, which was a record of $28.7 billion.
Microsoft planning $1B data center in Indiana
The 245,000-square-foot facility, to be located on nearly 500 acres in the Radius Industrial Park, is expected to create up to 200 jobs by the end of 2032.
Drugmaker Novartis to expand nuclear medicine factory near airport, creating 55 jobs
Novartis Manufacturing LLC told a committee of the City-County Council on Monday evening that it plans to spend up to $125 million to construct and equip a 79,000-square-foot-building for radiopharmaceutical manufacturing and distribution on the city’s west side.
Governor, IEDC announce record-setting $20.7B first quarter in commitments
The IEDC said the first-quarter financial commitments, which came from 45 companies planning to locate or expand in Indiana, ranged from $81,000 to $11 billion apiece.
Online marketing firm Pneuma planning to relocate from Denver to Fishers
Online marketing firm Pneuma Media LLC plans to hire 26 people over the next five years, the company announced Tuesday.
Fishers-based Membershine planning to add 61 jobs
Membershine, which launched in 2020, offers an online platform for membership-based groups such as homeowners associations.
Indiana cities dishing out thousands of dollars to get out-of-state workers to relocate
Hundreds of families have already participated in the MakeMyMove program and now call Indiana home.
Mayoral candidates differ on approach to downtown incentives
While incumbent Joe Hogsett says a broad use of incentives like tax-increment-financing bonds is often necessary to bridge funding gaps, Jefferson Shreve favors a moderated use of the city’s incentive toolbox.
Stellantis, Samsung SDI to spend $3.2B on second EV battery plant in Indiana, hire 1,400
The Indiana Economic Development Corp. is committing a state-record incentive package to the joint venture for the second plant, topping the previous record-setting package pledged for the first plant last year.