Inside Indiana Business: Banner year for Indiana Life Sciences VC
Inside INdiana Business

Inside Indiana Business: Banner year for Indiana Life Sciences VC


BioCrossroads, the state's life sciences initiative, says Hoosier businesses in the sector received a record infusion from venture capital investors last year. The $107 million, Project Director Brian Stemme says, surpassed expectations and represents an $18 million increase from 2016. Indianapolis-based startup On Target Laboratories led the way with a $40 million investment from JJDC Inc., the venture capital unit of Johnson & Johnson. In an interview with Inside INdiana Business Reporter Kylie Veleta in Life Sciences INdiana, Stemme said Indiana compares well with its peers, but still lags nationally.

Manufacturer details $16M Crothersville investment: An auto and heavy equipment component manufacturer plans to invest $16 million into its Jackson County operations. AISIN Drivetrain Inc. intends to create up to 47 jobs this year.

ANGI CEO: Indy 'big part' of future: The chief executive officer of Colorado-based ANGI Homeservices Inc. says Indianapolis will play a key role in driving the digital marketplace toward the scope and scale of other IAC properties like and Following the release of ANGI Homeservices' first full-quarter earnings report as its own business, Chris Terrill says all of the consolidation and reorganization efforts related to Angie's List in Indianapolis are complete and the company is poised for growth. Plans to relocate to a new Indianapolis headquarters at 130 E. Washington St. in downtown Indianapolis, the company says, will take place "in the near future."

Final I-69 section impact statement released: The Indiana Department of Transportation has released the Final Environmental Impact Statement and Record of Decision regarding the final section of the I-69 expansion. INDOT says the 26-mile stretch of interstate between Martinsville and Indianapolis will increase economic activity and improve safety and travel times.

Mount Vernon port hits cargo record: The Port of Indiana-Mount Vernon has set a new record for cargo. The port handled 6.8 million tons of cargo in 2017, more than any port in the nearly 60-year history of the Ports of Indiana and more than 200,000 tons more than the previous record set in 2015.

Operating changes lead to big job cuts in Greenfield: DHL Supply Chain says more than 500 jobs will be cut at a logistics facility in Greenfield. In a notice to the state, the company attributes the decision to Walmart taking over operations at the facility. DHL Supply Chain bills itself as the world's leading contract logistics provider. It has a presence in more than 55 countries and employs over 146,000 globally.

Schurz adds data, cloud provider: Mishawaka-based Schurz Communications Inc. is continuing a transformation. The media company, which divested itself from the radio and television business in 2016, has acquired Online Tech LLC of Ann Arbor, Michigan. Online Tech owns seven data centers in Indianapolis, Michigan and Missouri, and offers hybrid cloud services throughout the Midwest.

Anchor Indiana IoT lab tenants sign on: The Indiana IoT Lab in Fishers has revealed the inaugural class of businesses setting up dedicated office suites at the soon-to-open property. Mayor Scott Fadness says the space, which is the first of its kind in the state, positions the city to "lead the way for innovation" in Indiana and beyond. In addition to eight office suites, 50 members have joined and will use the coworking and prototyping amenities on-site. The lab, run by founder and Chief Executive Officer John Wechsler, also features dedicated desks and work spaces that Internet-of-Things-focused members can reserve. In an interview at the Inside INdiana Business Launch Fishers Bureau, Wechsler said the IoT lab will harness existing advantages within the state.

Allegiant opens Indy air base: A $40 million Allegiant Travel Co. air base at Indianapolis International Airport is now operational. The facility is home to two Airbus aircraft and a locally-based crew of 80. The low-cost carrier expects to locate a third plane to the Indy base sometime this year.

Fort Wayne Riverfront looking to next steps: The city of Fort Wayne is looking toward the future of the Riverfront Fort Wayne project. The city has issued a Request For Qualifications from consultant teams for the second and third phases of the project, with a final selection expected to come in May.

Job totals released for Carson's store closures: The parent company of Carson's department stores has provided additional details about its consolidation plans, which include closing five Indiana locations. A notice to the state shows more than 300 jobs will be affected by The Bon-Ton Stores Inc. "store rationalization program."

Portillo's details next Indiana location: Portillo's has made plans for another central Indiana location official. The restaurant says it will this summer open a location in Greenwood. The announcement comes just months after Portillo's opened its Fishers location.


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