Mounds Mall in Anderson will close its doors next month. Jonathan Cook, a spokesman for the family that owns the mall, tells The Herald Bulletin that changing economic conditions and the loss of anchor tenant Carson’s led to the decision to close.
Portillo's breaks ground on Indy location: Officials have broken ground on the newest Portillo's location in central Indiana. Indianapolis Mayor Joe Hogsett was on hand for the beginning of construction on the restaurant, which will be located on the city's south side.
Notre Dame, IU, Purdue growing partnership: Three of the state's top research universities have hired their first multi-institutional employee. Welch Innovation Chief Executive Officer Christopher Welch will serve as director for the Indiana Consortium for the Analytical Sciences, which is a collaboration among the University of Notre Dame, Indiana University and Purdue University.
Redevelopment focuses on Indy's 'Mid-Ground': One of the key figures behind a planned historic bank-to-restaurant redevelopment says the goal is to transform a property from "a shame" into a vibrant part of the community. Ed Sherman is working with former Angie's List Chief Executive Officer Bill Oesterle on Midtown Brasserie, which will be run by highly-regarded chef and restaurateur Neal Brown. The art deco-style building was opened in 1947 by Indiana National Bank and closed two years ago as a Chase bank branch. Sherman says it will continue the momentum building in the area.
Spring sports bring impact to Northwest Indiana: An influx of athletes, coaches and families this spring is expected to bring a more than $1 million economic impact to Northwest Indiana. The South Shore Convention and Visitors Association says more than 7,500 visitors will arrive in the region through April for a variety of sporting events.
GEICO plans massive Carmel expansion: Washington D.C.-based GEICO has announced plans to invest more than $16 million to expand and enhance its presence in central Indiana. The insurance company says it will add more than 100,000 square feet of space to its Carmel office and create nearly 1,500 jobs by the end of 2022. GEICO currently employs about 1,200 people in Indiana and plans to begin recruiting immediately for positions in IT, customer service and claims handling.
Logistics company plans Jeffersonville expansion: Kentucky-based Bluegrass Supply Chain Services is planning to invest nearly $10 million in a new facility in Jeffersonville. One Southern Indiana says the 200,000-square-foot facility will allow the third party logistics provider to retain 14 employees and add 70 by the end of 2020.
Fleet management company growing: Indianapolis-based Earthwave Technologies says it will invest $1.2 million as part of an expansion. The company, which develops wireless fleet management systems for customers that use heavy equipment, says it expects to add up to 56 new jobs by 2022.
Distribution center closing to involve nearly 150 jobs: A book distribution operation is closing on the northwest side of Indianapolis. In a notice to the state, Illinois-based ReaderLink Distribution Services says layoffs will begin in April and continue until the center shuts down at the end of August. The move is expected to affect 147 workers.
Council OKs key Electric Works resolution: The Fort Wayne City Council last night approved a non-binding resolution supporting Electric Works and opening up the possibility of future public funding requests from the developer. RTM Ventures, the joint venture behind the $440 million downtown development, says it has "actively engaged" more than 100 retail and office tenant prospects for the mixed-use innovation district on the former General Electric campus.
Evansville council approves Berry incentives: Evansville-based Berry Global's previously-announced expansion plans are moving forward. WEHT-TV reports the Evansville City Council has approved a five-year tax phase-in plan for the $50 million project, which includes a new commercial production facility.
Road closures set For Eddy Street Commons project: The city of South Bend is preparing for the second phase of a major mixed-use project. The long-term closure of Eddy Street started this week as work begins on the $90 million Phase II of Eddy Street Commons at Notre Dame.
'Moving Forward' project begins in Bloomington: Work is officially underway at the next Moving Forward development. Officials have broken ground on B-Line Heights in downtown Bloomington, which developers say will include more than 30 energy-efficient and affordable apartment units. Pedcor Investments Vice President of Real Estate Development Brandon Delk says the $10 million project in the city's technology park overlay has been about than 10 years in the making. Delk says the sustainable model brings benefits to residents.
French: 'Perfect time' to repurpose Circle Centre: As some point to an uncertain future for Circle Centre mall, one retail expert says he is excited about what could be a new chapter for the downtown Indianapolis shopping center. "This is the time to repurpose and redevelop the mall," said Cushman & Wakefield Executive Director Bill French. "Downtown is on such a roll... perfect timing." The nearly 25-year-old center has been beset by store departures, most recently Carson's, which is closing its 145,000 square-foot Circle Centre store as part more than 40 chain-wide closings announced by parent Bon-Ton Stores. In an interview on "Inside INdiana Business with Gerry Dick," French said there are multiple options when it comes to finding a new tenant mix for the mall.
IURTC launches philanthropic venture fund: The Indiana University Research and Technology Corp. has announced a new fund designed to support startup development and research by faculty, students and staff on all IU campuses. The IU Philanthropic Venture Fund is a $15 million endeavor that could grow beyond $50 million. Much of the fund's support will come from gifts to the university.
Saint Mary-of-the-Woods kicks off 'Aspire Higher' campaign: Saint Mary-of-the-Woods College has publicly launched a $22 million comprehensive campaign. The school says the Aspire Higher campaign will support its strategic plan priorities, such as campus infrastructure improvement and enrollment growth.
DowDuPont names ag spinoff: DowDuPont has announced the name of its agriculture company spinoff. Corteva Agriscience will be headquartered in Delaware and have global business centers in Indianapolis and Iowa.
Goshen College to install solar array: Goshen College and College Mennonite Church will partner to install a 924-panel solar array on campus. The panels will be installed on the roof of the college's fitness center to provide fully-renewable energy to the Church-Chapel building.
Pain management business poised for expansion: An Indianapolis-based group of pain management services providers has larger regional aspirations following a big round of financing and an investment from a private equity firm. American Pain Consortium Holding is a new entity formed from its three-clinic predecessor, the Center for Pain Management, which has a presence in Indianapolis, Greenwood and Lafayette. J.P. Morgan is providing the $21 million in financing.
Digital marketing, printing company to open Indy 'HQ East': Montana-based PFL will open its "HQ East" Wednesday in downtown Indianapolis. The company, which was founded in the mid-1990s as online printing company PrintForLess, has expanded into marketing automation and customer relationship management technology. PFL says the second office will lead to at least 40 new jobs.
'Major spread' to spotlight Indy tech: AOL co-founder Steve Case's Rise of the Rest tour stop in Indianapolis last fall is paying more dividends. Launch Fishers co-founder John Wechsler says relationships from that event have led to a planned multi-page spread on the Indianapolis area's tech ecosystem in California Sunday magazine in the coming weeks. The region will be the centerpiece of a story on the growth of entrepreneurial ecosystems outside of Silicon Valley. October's event featured 10 of Indiana's top tech startups competing for a $100,000 investment from Case. In an interview at the Inside INdiana Business Launch Fishers bureau, Wechsler said Rise of the Rest has resulted in multiple wins for the region.
Pediatric therapy company plans Crawfordsville expansion: A Brownsburg-based pediatric therapy and behavioral services company is expanding in Crawfordsville. K1ds Count plans to invest up to $750,000 to build a new facility in the Crawfordsville Commerce Park and create 30 jobs.