Downtown building owner seeks tax break for $2M renovation
Growing architecture firm Guidon Design Inc. plans to occupy the currently vacant and dilapidated structure on North Pennsylvania Street and boost employment by nearly 50 percent.
Economic Development
Articles
Lilly Endowment awards $39M to bolster counties in north-central Indiana
The funding for Tippecanoe County and nine other counties is intended to help turn the region into a hub for agricultural research and advanced manufacturing.
Vehicle parts maker plans $7M tech center in Fishers
Thyssenkrupp Steering will create 64 new jobs and plans to move existing positions from its operations in Indianapolis to the new location at Exit Five Parkway.
UPDATE: Forecast projects $400M less in tax revenue for Indiana
Much of the anticipated shortfall is due to a sharp decline in corporate income tax collections as businesses claim all the state tax credits they’re entitled to, rather than applying them in future years.
Broad Ripple project to get $2.7M boost from city bonds
The developer-backed bonds will support a 87-unit, $18.9 million mixed-use apartment building that’s been in the works for about two years.
Richmond auto parts plant to close next year, costing 67 jobs
Southfield, Michigan-based Janesville Acoustics informed state and local officials last week that the Richmond factory, which makes thermal and acoustical insulation for the auto industry, will close by August 2018.
City agrees to pay $4.2M for land to build justice center
The city of Indianapolis has taken a major step toward building the $572 million criminal justice center in Twin-Aire neighborhood where the Citizens Energy coke plant once stood.
Nestle plans to invest $79.5M at central Indiana facility
The Anderson City Council is considering a tax abatement on the investment, which is expected to create 30 jobs.
Technology consultant adding 116 employees to local workforce
Moser Consulting Inc. plans to spend more than $1.5 million at its local headquarters to accommodate the expansion.
Indianapolis software firm planning to hire 102
The 5-year-old company said it will spend about $2 million to improve its existing 10,000-square-foot downtown office.
Roundup: Hosting NBA All-Star game carries high costs; sponsors eye Pacers esports team
While the economic impact for the 2021 All-Star weekend could top $100 million for Indianapolis, the hard costs and soft expenses for the Pacers and city will easily reach eight figures.
IEDC reports record-setting year for job commitments
The IEDC, which leads the state’s economic development efforts, said it secured 293 commitments in 2017 from companies around the world to locate or expand in Indiana.
Sallie Mae planning $12M expansion, 350 more jobs in Indianapolis
The expansion is the second for the student loan giant in Indianapolis in less than two years.
Indian engineering firm picks Columbus for 500-worker headquarters
A Bangalore-based engineering firm that announced plans in November to open a $10 million North American headquarters in Indiana has chosen Columbus for the facility, state officials announced Wednesday.
Indy Council approves tax abatement for Infosys
The 10-year tax abatement will apply to IT equipment of up to $400 million.
Two Zionsville companies to expand, add 72 employees
Both companies are expected to receive economic development incentives from the city of Zionsville and the state.
Indianapolis-based CraftMark Bakery plans $56 million expansion
The industrial bakery is seeking local tax breaks in connection with the project, which is expected to create 118 jobs over the next three years.
FedEx plans $385M upgrade for Indy hub, seeks $29.2M tax break
The investment in new equipment would ramp up the speed of sorting and handling at the 2.4 million-square-foot hub, as well as create about 125 full-time jobs and 450 part-time positions.
Brown’s biotech startup to hire 225, invest $16M in HQ
A company founded a year ago by prominent local tech entrepreneur Don Brown expects to pay average salaries of $156,000 a year in new space at the IU Emerging Technology Center.
Five companies commit to adding 500 jobs in Fishers
The announcement caps off what officials are calling a record year for economic development in the northern suburb—commitments for 2,185 new jobs and $64.5 million in capital investment.