Bid fund could strengthen Indiana’s hand in securing events
The Legislature is considering a bill that could give tourism groups statewide another tool in trying to lure dozens of additional events every year.
Economic Development
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Bill would give Beech Grove, Lawrence, Southport and Speedway more say in development
Sen. R. Michael Young, R-Indianapolis, is pushing a bill that would require the Metropolitan Development Commission to notify Marion County’s independent cities and towns before it considers tax abatements for development projects in each city.
GM to spend nearly $7B on EV, battery plants in Michigan
The state’s economic development board on Tuesday approved $824 million in incentives and assistance for Detroit-based General Motors.
Intel chooses Ohio for $20B chip facility amid global shortage
The Intel project is the largest single private-sector investment in Ohio’s history, state officials said. The facility is expected to create 3,000 company jobs and 7,000 construction jobs, while supporting tens of thousands of additional jobs for suppliers and partners.
City taking redevelopment proposals for City Market wing, Jail II, Arrestee Processing Center
The Department of Metropolitan Development on Thursday released two requests for proposals covering the three structures to developers.
John Thompson named chair of Indiana Chamber board
Thompson is the first African-American to lead the chamber board and is the CEO and chairman of four businesses, including Thompson Distribution and First Electric Supply.
MDC approves affordable housing measures for Hillside, Martindale-Brightwood area
The area includes four neighborhoods: Hillside, Martindale-Brightwood, Oakhill and Ralston-Hovey-Arsenal. Staff, community organizations and residents have been working on the housing district, the redevelopment zone and a plan for the area for two years.
Elanco eyes early 2022 groundbreaking for stamping plant HQ project
Elanco Animal Health Inc. officials say they expect to break ground on the company’s new $100 million headquarters just west of downtown Indianapolis in early 2022 after fine-tuning plans for the project with city and state officials.
$500M in READI grant funding dished out to all 17 applicants
Seventeen regions representing all corners of the state will each get a slice of the $500 million in state-funded regional grants, with $65 million going to regions in the Indianapolis metro area.
Develop Indy deals led to 4,575 pledged jobs, $570M in investments, leaders say
Develop Indy, Indianapolis’ economic development agency, made incentive deals involving 71 business relocation or expansion projects during the first 11-plus months of the year, officials announced Tuesday.
Central Indiana initiative named finalist in regional economic challenge
As a finalist, the Central Indiana Initiative, which is led by the city of Indianapolis, will receive a $500,000 grant to further develop its proposed projects. It is the running to win as much as $100 million more.
Indiana renews plans for global economic summit
The Indiana Economic Development Corp. said the event will “showcase the state’s leadership role in transformative ideas, disruptive technology and urgent deliberation on the economy of the future.”
Michigan House OKs incentives to land major business deals
While proponents did not specify pending deals for which Michigan is vying, several told the House Government Operations Committee that Michigan must stay competitive in the auto industry.
Ohio lawmakers to consider bill aimed at retaining, luring students
Lawmakers in Indiana’s neighbor to the east will consider making graduates of any Ohio college who take a full-time job in the state exempt from state income tax for up to three years.
Lucas Oil Stadium to see $22 million in upgrades in 2022
The improvements will bring new, higher-definition video boards to the northwest and southeast corners of the bowl, along with new video-ribbon displays, an upgraded sound system, new carpet and furniture, and an area in the team’s locker room for female football personnel.
IEDC chief lays out state’s new strategic plan for economic growth
Indiana Secretary of Commerce Brad Chambers has a vision for the state to “shoot higher” in its economic development efforts, which he outlined Thursday morning in a five-point strategy.
Allegion plans $13M expansion of Schlage operations, 325 new jobs
Allegion said the expansion will not only enhance manufacturing and engineering capabilities in the state, but also expand its information technology and innovation expertise.
IEDC works with accelerator to bring startups to Indiana
Gener8tor is launching four industry-specific programs within its gBETA accelerator for early-stage startups from both Indiana and around the United States, hoping some will move here.
IEDC hires consultant to study state’s entrepreneurial ecosystem
The IEDC has agreed to pay $150,000 to San Francisco-based consultant Startup Genome to generate a snapshot report of the state’s entrepreneurial climate. Based on the results of that report, the IEDC will decide whether to contract with the consultant for additional work.
Indiana Avenue advocates say interstate plans key to revitalization
Groups that hope to see revitalization in the Indiana Avenue neighborhood are paying close attention to how future interstate construction projects will affect the area.