Holcomb, Chambers to visit Slovakia, Israel on economic mission
The trip also will include a humanitarian component tied to Russia’s invasion of Ukraine.
Economic Development
Articles
READI funding snag might rule out some projects
Local and state officials learned in January that several projects included in plans awarded grants just a month before might now be ineligible because of rules attached to the funding.
Michigan Legislature starts voting to pause state gas tax
The average price for unleaded gas in Indiana’s neighboring state to the north has climbed to nearly $4.25 per gallon, up 62 cents in a week and 88 cents in a month, according to AAA Michigan.
Indoor vertical farm plans $70M facility, 120 jobs in Indiana
The company said the new location will allow it to expand its bagged salad and salad kit offerings to retailers and consumers throughout the Midwest and mid-south regions.
Speedway’s economic development director heading to McCordsville
During his tenure, Tim Gropp oversaw multiple major projects for the town, including the recently-opened Allison Transmission Innovation Center, the Abel Motorsports building and the $50 million Founders Square development.
Michigan Senate votes to cut income, corporate tax rates
Republicans who control the Michigan Senate on Tuesday passed a $2.5 billion annual tax cut, voting to lower income and corporate rates while letting people claim a credit for their children and deduct more retirement income.
Corteva names Indianapolis its new global headquarters
The maker of agricultural seeds, insecticides and herbicides had been based in Wilmington, Delaware, since its spinoff from parent DowDuPont in 2019.
Lawmakers consider offering remote workers $15K to move here
One piece of an extensive piece of legislation to restructure the incentive toolkit of the Indiana Economic Development Corp. would create a statewide remote-worker grant program.
State commerce chief wants to draw more high-paying jobs
IBJ asked Secretary of Commerce Brad Chambers to explain how the Indiana Economic Development Corp. will implement his themes of Environment, Economy of the Future, Entrepreneurship, Energy and External Engagement.
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.
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.