Rolls-Royce employees begin move to downtown campus
Rolls-Royce Corp. began moving employees to its new downtown office building on Monday—a shift an IUPUI analyst projected could generate $510 million in annual economic activity.
Economic Development
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Indy Partnership leader leaving organization
Executive Director Scott Fulford said he is retiring and handing over leadership to Troy Whittington, who currently is director of business development. He officially becomes interim director on Jan. 1.
CME Group says it’s staying in Illinois
Illinois Gov. Pat Quinn on Friday signed tax-break legislation designed to keep the Chicago Mercantile Exchange and Sears Holding Co. from fleeing the state. CME had talked to Indianapolis officials about moving to central Indiana.
Celadon plans expansion, $3.4M office building
Celadon Group Inc. is seeking tax abatements from the city to build a $3.4 million office building at its far-east-side headquarters. The local trucking firm plans to hire 100 more employees by 2016.
Illinois tax breaks could trigger demand for more
Under the threat of losing thousands of jobs to other states, Illinois lawmakers on Tuesday approved a tax-relief package meant to keep Sears and the Chicago Mercantile Exchange from leaving. The state’s governor is expected to sign it.
Illinois Senate considering CME Group tax breaks
The Senate has approved similar legislation in the past, so the latest version is likely to get the chamber’s stamp of approval. Indianapolis and, likely, Carmel have been trying to lure the company to Indiana.
Tebow could give Indy a huge economic lift
If the Denver Broncos somehow make it to the Super Bowl at Lucas Oil Stadium Feb. 5, TV viewership for the event will likely be a record high. Throw in undefeated Green Bay as the opponent, and Indianapolis will be the epicenter of a global media frenzy.
Illinois lawmakers under gun over CME tax breaks
Lawmakers in Illinois, where major employers are threatening to leave the state if their tax burden isn’t reduced, return to Springfield on Monday to consider what they probably can’t afford to do.
State economic development group backs right-to-work
The agency in charge of attracting business expansions to Indiana unanimously passed a resolution to support a right-to-work law, arguing that the state is automatically eliminated from many economic deals because it lacks such legislation.
Illinois lawmakers renew efforts to keep CME Group
Illinois lawmakers have reportedly reached a deal on a package of bills designed to prevent financial giant CME Group Inc. from fleeing to Indiana or another state.
City calls off Haverstick, Redcats tax incentives
Two Indianapolis companies that received tax-abatement agreements from the city in 2007 have had the incentives canceled for failing to meet investment and employment goals.
Carmel also likely competing for CME Group
A letter from Carmel Mayor Jim Brainard to a company that fits the Chicago Mercantile Exchange’s description says the Indianapolis suburb is prepared to offer $150 million in incentives in return for 1,700 high-paying jobs.
Military contractor plans new Indiana headquarters
Sellersburg-based Rivera Consulting Group Inc. announced Monday that would build a new facility in Clarksville and expects to add up to 85 jobs over the next three years.
Rolls-Royce tax-incentives deal set for hearing
A plan to offer a 10-year tax abatement worth $23 million for Rolls-Royce Corp. to redevelop two plants on the west side and move thousands of office workers into downtown’s Faris campus is scheduled for an initial hearing Wednesday.
Determining jobless rate far from exact science
The key number used nationally to determine just how deep the problem is, the unemployment rate, is the subject of its own debate.
Indianapolis courts Chicago Mercantile Exchange
Indianapolis' mayor has met with top executives of the Chicago Mercantile Exchange to discuss bringing the 163-year-old financial market to Indiana's largest city. A move would mean hundreds of jobs for Indianapolis.
Food company closing in Indiana has unpaid bills
An organic food company that is closing its eastern Indiana preparation center was offered up to $3.5 million in state tax credits to open its plant, but it owes more than $31,000 in property taxes and sewer bills.
Kokomo upshifting with Chrysler investment
City north of Indianapolis feels the power of $1.3 billion upgrade of equipment in automaker’s transmission plants.
After hiking taxes, Illinois now considers easing them
Less than a year after raising personal and corporate income taxes, Illinois officials are pushing a $250 million package of tax breaks for several prominent businesses threatening to leave for more tax-friendly states, including Indiana.
SEC accuses Positron CEO of misleading investors
Regulators allege CEO Patrick G. Rooney diverted millions of dollars from a hedge fund into the struggling Fishers company without investors’ knowledge.