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NOTIONS: Must we pay the painful price of Hoosier incivility?

One of the most effective advertisements I ever created never had to be published. The mere fear it instilled via private showings to Connecticut state legislators was enough to undo the havoc they were threatening to wreak. At the time, lawmakers were contemplating what they called a “business services tax,” a tax that would be imposed on the services one division of a corporation provided to another, so long as both operated within the state. For example, if an Aetna…

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Tax break would reward patent producers: Indiana legislators view bill as way to attract young, innovative high-tech companies and solo entrepreneurs

A bill weaving its way through the Indiana General Assembly could give the state an edge in attracting and growing the type of high-tech ventures several states covet. Indiana House Bill 1461, introduced by Rep. Brian Bosma, R-Indianapolis, advanced to the Senate after sailing through the House of Representatives on Feb. 26 by a vote of 95-3. The legislation that was referred to the Senate’s Economic Development and Technology Committee would provide a tax incentive that would shield income from…

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EYE ON THE PIE: Unsolicited advice for IU’s next president

Congratulations, Dr. McRobbie, on being selected as Indiana University’s next president. I’ve read that you are committed to helping IU become more active in the state’s economic development. I’ve heard that from every IU president since I arrived in 1970. To be successful, it will take major changes. It is not sufficient to appoint a committee of administrators who then request each part of the university to submit a list of its “economic development activities” for ultimate inclusion in a…

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Software firm finally making name for itself: Fusion quietly becomes giant in local tech industry

Doug Brown might not know how to name a company, but he sure knows how to grow one. CEO Brown, 46, co-founded Fusion Alliance Inc. in 1994 along with Tim Shaw, who is no longer active in the firm. The company has since blossomed into the Indianapolis-area’s’s largest software developer, with 196 staff and contract software engineers and programmers. Much of the growth coincides with the decision in 2000 to rechristen the northwest-side company from its original and less glamorous…

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STATEHOUSE DISPATCH: So far, session is all about unearthing new revenue

Sure, it’s a budget session, and one would expect fiscal talk to dominate the discussion. But the one thing that has surprised us so far this year-and we are literally at the midpoint-is just how much the dollar debate has consumed this Legislature. Through the first few weeks of the session, the big sport was picking the over/under on when the relationship between Gov. Mitch Daniels (R) and House Speaker Pat Bauer (DSouth Bend)-and thus between Republicans and Democrats as…

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Technology-friendly legislation quietly advances: Bills could spur patent commercialization and more

A handful of bills pending in the General Assembly could have a major impact on Indiana’s high-tech sector. Legislation under consideration could stimulate increased commercialization of patented Indiana technology, channel more money toward development of alternative fuels, require regular review of Indiana’s certified technology parks, and more. Tech leaders are optimistic about the chances their agenda will be approved. “It’s the reason we married up with CICP,” said Ron Brumbarger, chairman of TechPoint, a trade association for Indiana high-tech companies….

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Forensic engineering firm seeks defense work: New initiative hopes to help other local firms follow in Wolf Technical’s footsteps

After 30 years in the forensic-engineering business, Wolf Technical Services Inc. has analyzed everything from deadly car crashes to patent infringement. Now, Indianapolis-based Wolf is hoping to diversify into a new area: federal defense contracting. It’s a field local corporate leaders hope Indiana will tap much more frequently in the years to come. “We don’t quite know at the moment where this could lead,” said Wolf Director of Client Relations Joseph Ward. “And that’s the fun part.” The 30-employee Wolf’s…

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VOICES FROM THE INDUSTRY: A positive shift in health care: It’s OK to say you’re sorry

Last September, when tragic errors led to the deaths of three infants at Indianapolis’ Methodist Hospital, the hospital did something that, just a few years ago, might have seemed unthinkable: It acknowledged the tragedy and admitted that mistakes were made. “We are all saddened by this news and our hearts are with this family and all the families who have been affected,” a hospital spokesman told The Indianapolis Star. Added Methodist President and CEO Sam Odle, “Ultimately, the blame for…

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Corporate shopping spree: Massive Guidant deal helps make 2006 a record-setting year for local M&A activity

Last year was a record-shattering period for the Indianapolis-area merger and acquisition market, thanks in large part to the loss of one public corporation. Guidant Corp.’s acquisition by Boston Scientific Corp. for $28.4 billion last year and the related sale of its vascular business to Abbott Laboratories for $4.1 billion made the 2006 Big Deals list bigger than ever. That’s because the two deals made up about 85 percent of the $38.5 billion of M&A activity tracked down by the…

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Neighbors examine the BioCrossroads’ approach: Collaboration, not competition, now key for Midwestern life science industry

Five years ago, when the BioCrossroads initiative debuted, pundits compared its challenge to a foot race on a track crowded with competitors. And they noted a handful of traditional biotech hub cities like San Diego or Boston enjoyed a huge head start. Today, a better analogy might be a rising tide that lifts all boats. “The pie is getting bigger. It’s not a zero-sum game,” said Walt Plosila, vice president and leader of the technology partnership practice for Columbus, Ohio-based…

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Executive lunches feed search for new biotech ideas: Local group of CEOs from venture-funded life sciences firms gather monthly to share experiences, advice

Each month, leaders of some of the city’s most promising life sciences companies gather to share lunch, but they are more interested in getting an extra dollop of advice that might contain the ingredients for a thriving company. These 14 chief executives sharing their experiences with one another represent the city’s roster of life sciences firms that have received outside financing from venture capitalists. That means the fledgling enterprises are high-risk investments with the potential for above-average returns. And with…

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Labor sector diversification could spur local economy: $200,000 study targets finance, retail and construction

Sexier industry sectors like life sciences or motorsports get all the press. But to remain robust, the Indianapolis Private Industry Council believes, the area economy needs diversification. The 23-year-old work-force-training not-for-profit believes the nine-county area also should target three tried-and-true industries: finance and insurance; retail, hospitality and restaurants; and construction. IPIC, whose $9 million annual budget comes from public and private grants, plans to spend $200,000 during the first quarter studying the three sectors, which collectively employ 270,000 people in…

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CICP’s chief launches raft of initiatives:

In January, Mark Miles returned to Indianapolis after more than a decade at the helm of the Association of Tennis Professionals to become CEO of the Central Indiana Corporate Partnership. Twelve months later, the CICP looks much different than it did under his predecessor David Goodrich. And it could soon change even more. A former Eli Lilly and Co. executive and aide to Dan Quayle, Miles, 53, has been one of the key players in the potential consolidation of the…

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BioCrossroads aims to aid life sciences service sector: Group hopes to identify or raise at least $25 million

BioCrossroads, the life sciences initiative responsible for raising the $73 million Indiana Future Fund and the $6 million Indiana Seed Fund, is in early discussions on a new capital-formation effort. The focus this time around: biotech services businesses. “This is very much a work in progress,” said BioCrossroads CEO David Johnson. “But we believe and acknowledge this is an area that needs our attention and our active involvement.” Next year, Johnson hopes to focus at least $25 million to $30…

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Techpoint’s new leader sees room to grow: Indiana making progress, but could do better, he says

Techpoint, a locally based technology trade group that represents the interests of about 330 members statewide, is undergoing a transition in leadership. Jim Jay, 37, has been named interim CEO following the resignation of Cameron Carter, who has led the organization since 2003. Directors should begin a formal search for a permanent replacement the first of the year. Whether Jay lands the top job remains to be seen. But in the meantime, the Butler University graduate with an entrepreneurial spirit…

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Ex-Lilly execs take on diabetes with Carmel startup

Four former top scientists at Eli Lilly and Co. have formed a Carmel-based company to develop diabetes therapies–a venture observers say has the potential to become the kind of blockbuster success BioCrossroads was built to stimulate.

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ECONOMIC ANALYSIS: Strong economy draws out plethora of spending plans

If you ever want to satisfy your curiosity about recessions and business cycles, travel over to the Web site of the National Bureau of Economic Research. It has recorded and documented every downturn and uptick in the U.S. economy since 1857. And over that century and a half, the bureau has noticed certain regularities to the boom and bust of the economy around us. In the first stages of recovery from a recession, for example, it is quite common for…

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