Home » Economic Development

Economic Development

Articles

Tax break would reward patent producers: Indiana legislators view bill as way to attract young, innovative high-tech companies and solo entrepreneurs

A bill weaving its way through the Indiana General Assembly could give the state an edge in attracting and growing the type of high-tech ventures several states covet. Indiana House Bill 1461, introduced by Rep. Brian Bosma, R-Indianapolis, advanced to the Senate after sailing through the House of Representatives on Feb. 26 by a vote of 95-3. The legislation that was referred to the Senate’s Economic Development and Technology Committee would provide a tax incentive that would shield income from…

Read More

EYE ON THE PIE: Unsolicited advice for IU’s next president

Congratulations, Dr. McRobbie, on being selected as Indiana University’s next president. I’ve read that you are committed to helping IU become more active in the state’s economic development. I’ve heard that from every IU president since I arrived in 1970. To be successful, it will take major changes. It is not sufficient to appoint a committee of administrators who then request each part of the university to submit a list of its “economic development activities” for ultimate inclusion in a…

Read More

New NFIB boss knows politics: State chapter to devote more time to campaigns

Kevin Hughes cut his teeth in the political world. Now he’s taking a bite out of small business, as the new state director for the National Federation of Independent Business. Hughes, 30, has never owned his own business, but he worked for six years at the Ohio State Legislature as a legislative aide and for the Senate Republicans there. He also worked on several campaigns. In 2004, Hughes took a job as the Midwest regional political director for NFIB in…

Read More

Economic development tops insurance initiatives: Raising money, lowering taxes top legislative agenda

The Indiana Department of Insurance wants to raise almost $2 million by hiking some fees it charges insurers, while still cutting their premium taxes in an effort to attract more companies to the state. The proposals are among several bills lawmakers are mulling that affect the insurance industry this legislative session. House Bill 1570, which would bolster Insurance Department coffers in part to hire more staff, has cleared early hurdles. It sped through both the House insurance and ways and…

Read More

WFYI Teleplex to make $20 million move: Federal tax credit will help pay for purchase of former Indiana Energy building, renovations, equipment

Metropolitan Indianapolis Public Broadcasting Inc. will invest $20.1 million to move its WFYI Teleplex up the street into the former Indiana Energy headquarters, a shift that will give the notfor-profit room to grow and breathe new life into an enormous building that’s been nearly vacant since 2000. The broadcaster will pay $8.5 million for the four-story, 94,000-square-foot building at 1630 N. Meridian St., and spend $11.6 million on renovations and equipment. Funding will come from a hodgepodge of sources, including…

Read More

Interstate 69 corridor luring more distribution buildings: Unlike busy Plainfield market, where projects are huge, Fishers, Noblesville attracting smaller warehouses

Two massive developments with sizable retail components along the Interstate 69 corridor in Hamilton County are helping to spur the construction of several nearby distribution centers. The light industrial space rising near Fishers and Noblesville is unlike the monstrous warehouse projects prevalent west of Indianapolis in Plainfield and popping up within the Anson project near Whitestown. They instead are mediumsize warehouse or showroom space meant for small businesses expected to populate Hamilton Town Center and Saxony at the Exit 10…

Read More

MICKEY MAURER Commentary: A plug for non-partisan policy making

MICKEY MAURER Commentary A plug for non-partisan policy making In my final week as secretary of commerce, I appeared at a hearing before the State Budget Committee on behalf of the Indiana Economic Development Corp. The hearing was the first step in the reauthorization process for operating budget and incentive program funding for fiscal years 2008 and 2009. It was to be my final presentation at the Statehouse. In an effort to demonstrate that the Legislature was reaping a handsome…

Read More

Technology-friendly legislation quietly advances: Bills could spur patent commercialization and more

A handful of bills pending in the General Assembly could have a major impact on Indiana’s high-tech sector. Legislation under consideration could stimulate increased commercialization of patented Indiana technology, channel more money toward development of alternative fuels, require regular review of Indiana’s certified technology parks, and more. Tech leaders are optimistic about the chances their agenda will be approved. “It’s the reason we married up with CICP,” said Ron Brumbarger, chairman of TechPoint, a trade association for Indiana high-tech companies….

Read More

Forensic engineering firm seeks defense work: New initiative hopes to help other local firms follow in Wolf Technical’s footsteps

After 30 years in the forensic-engineering business, Wolf Technical Services Inc. has analyzed everything from deadly car crashes to patent infringement. Now, Indianapolis-based Wolf is hoping to diversify into a new area: federal defense contracting. It’s a field local corporate leaders hope Indiana will tap much more frequently in the years to come. “We don’t quite know at the moment where this could lead,” said Wolf Director of Client Relations Joseph Ward. “And that’s the fun part.” The 30-employee Wolf’s…

Read More

University Loft finds growing niche in hospitality industry: Indianapolis-based furniture manufacturer known for college products sees big potential in hotel segment

The University Loft Co.’s graduation from dormitory to hotel-furniture maker is beginning to show promise. While the Indianapolis-based manufacturer’s bread and butter remains campus furnishings, its decision to enter the hospitality market in 2003 has CEO James Jannetides thinking big-as in presidentialsuite big. In four years, the ULC Hospitality division has grown to account for nearly 10 percent of the company’s $100 million annual revenue. Jannetides, though, envisions the branch’s eventually contributing half in his quest to someday make ULC…

Read More

Lawrence turns down rezoning for vacant drive-in: Developer and city working on a compromise

A developer wanting to breathe new life into a long-vacant drive-in theater along Pendleton Pike is working to change the minds of Lawrence leaders who already have said no thanks. New York-based Norry Management Corp. is leading an effort to redevelop the 93-acre property for retail, office and industrial uses. But its plans faced a setback last month when a rezoning petition got a negative response from officials concerned about what might end up there. Lawrence City Council members voted…

Read More

Tech firm Powerway seeking rebound

Powerway Inc., the Indianapolis-based maker of manufacturing quality-control software that grew like gangbusters in the 1990s
and aimed for an initial public offering, has endured a dog of a half-decade. But that soon could change. Powerway just hired
an IT industry turnaround expert as CEO.

Read More

STATEHOUSE DISPATCH: Daniels administration subtly shifting ethanol strategy

Folks in central Indiana who were watching probably took advantage of the section of President Bush’s State of the Union address on energy independence Jan. 23 to grab a drink or check in on the Indiana University post-game show. While the president’s energy proposals probably didn’t generate a lot of attention in urban areas of the state, the mere mention of ethanol in Indiana outside the collar counties makes lots of Hoosier ears perk up-both ears of corn and human…

Read More

MICKEY MAURER Commentary: Announcing a camp for women

Ladies, listen up. Mickey’s Camp for Women will hold its inaugural event Aug. 13-15, 2007. You are invited. The Mickey’s Camp concept grew out of a frustrating evening of 8-ball at a friend’s house more than six years ago. I started thinking that pool was just one of a number of skills and activities I hadn’t had time to sharpen and enjoy during the course of my life. Occupied with business and family, like most of us, I had relegated…

Read More

Giant Ford plant could join warehouse conversion trend: Observers say size, age may be obstacles

City officials haven’t given up hope on keeping 1,400 lucrative manufacturing jobs at an Indianapolis steering parts plant, but Ford Motor Co. has. The company this month said it will close the facility by the end of 2008. A closure will leave the 1.8-millionsquare-foot building empty, but real estate observers say it could be redeveloped as leaseable industrial space-as shuttered Chrysler, Maytag and Western Electric factories nearby have been. Some of the premier projects in the area are leasing well,…

Read More

Neighbors examine the BioCrossroads’ approach: Collaboration, not competition, now key for Midwestern life science industry

Five years ago, when the BioCrossroads initiative debuted, pundits compared its challenge to a foot race on a track crowded with competitors. And they noted a handful of traditional biotech hub cities like San Diego or Boston enjoyed a huge head start. Today, a better analogy might be a rising tide that lifts all boats. “The pie is getting bigger. It’s not a zero-sum game,” said Walt Plosila, vice president and leader of the technology partnership practice for Columbus, Ohio-based…

Read More

VIEWPOINT: What we could learn from Fort Wayne

To be competitive in a global economy, city leaders must embrace change and look for innovative ways to attract jobs and private investment. In Fort Wayne, we are working to save energy and improve air and water quality to build a better city. We must decrease our dependence on imported oil for many reasons, including national security, cost of living and the need to reduce greenhouse-gas emissions. Energy and environmental concerns are directly related to economic development and quality of…

Read More

College targets dropouts with new program: Ivy Tech offers high school failures chance to get degree, pursue higher education

Ivy Tech Community College this month launched a pilot program that allows high school dropouts to earn their diplomas while simultaneously working toward a certificate or associate’s degree in college. Intended to improve the state’s labor pool, and as a lifeline to dropouts facing a dismal life in the earnings underclass, it will first be rolled out in Bloomington, Lafayette and Terre Haute. The Indianapolis campus also will offer the program aimed at those 19 or older, although a date…

Read More

MICKEY MAURER Commentary: A fresh start for this IEDC alum

I’m back. My last regular column appeared in the Indianapolis Business Journal on Jan. 3, 2005. In that column, I announced that I had accepted a twoyear hitch with the Daniels administration as president of the Indiana Economic Development Corp. and that columns would be suspended during my tenure with the state. The editors at IBJ felt that writing a column would pose a conflict of interest with my new responsibilities, and I agreed. It was a good thing; I…

Read More

CHRIS KATTERJOHN Commentary: Community resolutions for 2007

It’s a week past the appropriate time to be writing about New Year’s resolutions, but from the feel of traffic heading in and out of town during rush hour, it appears a number of folks are still on vacation. I think the vast majority of us are ready now to get back down to business, so I feel justified in my timing. Therefore, be it resolved: Mayor Bart Peterson and Marion County Prosecutor Carl Brizzi should continue to address the…

Read More