Indiana life sciences sector copes with shrinking VC pool
Venture funds nationwide crested at $100 billion in 2000, but that number last year had drooped to $18 billion.
Government & Economic Development
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Downtown apartment developers take divergent paths to financing
J.C. Hart Co. spent more than a year securing a $5 million bank loan to expand an existing project; Buckingham Cos. turned to the city to finance its ambitious project just north of the Eli Lilly and Co. campus.
Critics say state ethics panel too lenient
The Indiana State Ethics Commission, which has been under fire for allowing a state regulator to take a job with a utility, has a long history of lenient decisions.
New parking meter plan could yield Indianapolis more cash
The revised plan calls for less money up front, more over the life of the contract and more flexibility to terminate the 50-year deal early.
Veolia losing water contract, will get $29M termination fee
Playing a limited role under Indianapolis Water's new owner, Citizens Energy, wouldn't be profitable, Veolia says. Citizens plans to make job offers to "substantially all" Veolia employees.
National unemployment claims drop sharply
Fewer people applied for unemployment benefits last week, the second drop in a row and a hopeful sign the job market could be improving.
U.S. attorneys, FBI to watch for voter fraud, abuses
The FBI also will have special agents available to receive allegations of election fraud or discrimination.
Secretary of state files complaint against teachers’ fund broker
David Karandos, a broker who advised the Indiana State Teachers Association Insurance Trust before it collapsed in 2009, is facing an administrative complaint from the Indiana Securities Division, which alleges 13 violations for unethical, dishonest and deceptive practices.
Cummins expanding in Columbus, plans 350 jobs
Cummins Inc. announced Tuesday that it will expand its headquarters in Columbus, adding at least 350 professional employees during the next 18 months to support global operations.
U.S. attorney to ask for review of IURC ethics dispute
U.S. Attorney Joe Hogsett says he'll ask "the appropriate federal agency" to review an ethics dispute that has embroiled the Indiana Utility Regulatory Commission and Duke Energy Corp.
Kokomo approves tax breaks for Delphi division
Delphi Electronics & Safety is moving ahead with a $28 million investment in its Kokomo operations, city officials said this week.
City-County Council approves 2011 budget
The CIB’s $73.1 million budget, which included a $10 million payment to the Pacers for the operation of Conseco Fieldhouse, passed by a 15-14 vote.
GOP could gain quorum in state Senate election
Indiana Senate Democrats, long considered the last bastion of liberal thought in state government, are in danger of becoming politically irrelevant after the Nov. 2 election—something they say would disenfranchise nearly 2 million Hoosiers who live in their districts.
Some council members still unsure about CIB budget
The Capital Improvement Board’s controversial spending plan will face its final trial Monday night as the City-County Council takes up the city’s $1.1 billion budget for next year.
State’s jobless rate dips slightly to 10.1 percent
Indiana’s unemployment rate in September was 0.1 percentage point lower than in August and the same as it was the same month last year. But it remains above the national rate of 9.6 percent.
Tax caps give township reform effort new life
A push to eliminate township government will return to the Statehouse next year—this time with a better shot at success. Township reforms, which have been vigorously debated but never passed, have been touted as a way to make government more cost-effective.
HICKS: Early-childhood education benefits the economy
Plunging into the economics of diapers and pre-literacy programs hardly filled me with gleeful anticipation (though for the record I am a wicked-good diaper changer).
Prospects for City Market brightening at last
New tenants include fresh-item vendors such as a florist and produce shop, in addition to more healthful prepared foods such as juice, crepes and freshly prepared soup.
National jobless claims fall, but still elevated
Fewer people applied for unemployment benefits last week, but the drop wasn't enough to reverse a big increase the previous week.
Indianapolis-area experts see bright spots amid ongoing real estate weakness
Health care shows signs of life, and multi-family buildings continue to hold their own, experts said during a recent IBJ Power Breakfast.