IIB WEEK IN REVIEW: Indy scores again with Big Ten

2014-06-07T13:08:00Z IIB WEEK IN REVIEW: Indy scores again with Big TenGerry Dick Inside Indiana Business nwitimes.com
June 07, 2014 1:08 pm  • 

The decision by the Big Ten Conference to place more championship events in Indianapolis is expected to pump tens of millions of dollars into the central Indiana economy. Indiana Sports Corp. Chairman Scott Dorsey says 14 events over the next few years will have an estimated economic impact of $150 million. The football championship game will stay at Lucas Oil Stadium at least until the 2021 season. More men's and women's Big Ten Basketball Tournaments are booked through 2022.

McCorkle Targets Future

The incoming chief executive officer at ExactTarget Inc. is re-affirming the company's commitment to Indianapolis, while touting the benefits of the central Indiana workforce. Scott McCorkle will take over this summer from Scott Dorsey, who has decided to leave the company, although he will remain an ExactTarget Foundation director. McCorkle currently serves as chief operating officer and says he wants to maintain the energy and spirit that has been built up over the years.

Illinois Company Could Create Indy Jobs

Illinois-based Peapod LLC is seeking tax abatement on plans to build a grocery distribution center in Indianapolis. The online delivery service says the more than $5 million investment would result in over 230 new jobs by 2018.

UIndy to Begin Work on $28M Health Pavilion

The University of Indianapolis will hold a groundbreaking ceremony later this month for a $28 million Health Pavilion. The school says the four-story building will serve as a new gateway to the campus and is a key part of UIndy's $50 million development plan. During a recent interview on Inside INdiana Business Television, President Robert Manuel said the pavilion will help students gain clinical experience.

Manufacturer Hopes to Triple Work Force

A Wells County-based employer is planning to add up to 100 jobs by 2017. Haven Manufacturing Indiana Inc. intends to pump nearly $3 million into an expansion that includes additional computer numeric controlled technology. The company produces components for the orthopedic, auto racing, and military industries and currently employs 50 at its Ossian facility. Haven says the average wage for the new workers will be $17.00 per hour.

Vera Bradley Strikes International Agreement

Fort Wayne-based Vera Bradley Inc. has reached a five-year Japanese distribution deal. The agreement involves Look Inc. and Mitsubishi Corp. and includes retail distribution rights in the Asian nation.

Old National Grows Again

Evansville-based Old National Bancorp has acquired another Indiana bank. The deal for LSB Financial Corp. in Lafayette is valued at nearly $67 million. The move continues a major expansion period for Old National, which includes the acquisitions of Michigan-based United Bancorp Inc. and Tower Financial Corp. in Fort Wayne. Chief Executive Officer Bob Jones tells Inside INdiana Business he still believes there is room for growth in Indiana.

Herff Jones Touts Rebranding

Indianapolis-based Herff Jones Inc. says a comprehensive rebranding effort reflects its "accelerated growth." The company, which merged in recent years with BSN Sports Inc. in Texas and Memphis-based Varsity Brands, says the combined operation will continue under the Varsity Brands name. Chief Executive Officer Jeff Webb says, while each company name has equity, the rebranding provides a "singular and focused vision." The joint operation has a sales force of more than 1,000 targeting the school and institutional markets.

Indy Calls Off Cricket Championship

The City of Indianapolis has canceled a major cricket tournament scheduled for August. Mayor Greg Ballard says the decision to drop the U.S. National Cricket Championships at the $5.1 million, soon-to-be-open World Sports Park came after "months without adequate communication" between the city and the United States of America Cricket Association.

Lilly: Study Shows Potential Treatment Improves Survival

Indianapolis-based Eli Lilly and Co. says a potential lung cancer treatment has "demonstrated significant survival improvement" in a late-stage trial. Ramucirumab, also known as CYRAMZA, has already been approved in the U.S. for advanced gastric cancer patients.

WGU Indiana Celebrates Four Years

The state's online university says it will mark its fourth anniversary by expanding student opportunities and corporate partnerships. WGU Indiana Chancellor Allison Barber says the school will soon unveil the largest scholarship campaign in its history. Since it was established in 2010, the university has not increased tuition and enrollment has grown from about 260 students to more than 3,400. WGU is planning several events this month throughout Indiana to celebrate the anniversary.

For more Inside Indiana Business, visit www.insideindianabusiness.com.

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