Lawmakers offer bills to improve the IEDC. Here’s a rundown.
A number of bills this session are focused on the Indiana Economic Development Corp., but most of them have yet to receive a committee hearing.
Economic Development
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Attorneys prepare for legal challenges posed by new collaborative advanced manufacturing hub
A new smart manufacturing hub is coming to town this summer and gearing up to boost Indiana’s manufacturing industry. At its helm are two Hoosier attorneys who have deep roots in the state’s economic development, both of whom say the legal complexities of pursuing such a venture make the process interesting.
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A Hamilton County community champion: Legendary Lawyer Douglas Church
In a career that has spanned 50 years, Douglas Church not only developed his own private practice but also played an integral role in the blossoming of Hamilton County. He served as attorney for the town of Fishers from 1980 through 2015 and for the city of Noblesville from 1988 through 1996, helping those communities formulate and implement strategies for growth.
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Articles
Nuclear energy startup to establish HQ, manufacturing operations in Indiana
Indiana Gov. Mike Braun said in a news release that the move will bring 5,000 high-paying jobs to Indiana, “cementing our state as a leader in clean, reliable nuclear power.” The state doesn’t currently have any nuclear generators.
Some Indiana Democrats call for further investigation into IEDC, affiliated entities
Findings of conflicts of interest, inadequate internal policies and lavish travel spending at the Indiana Economic Development Corp. have led to calls from Statehouse Democrats for further investigation into the operations of the IEDC for potential criminal wrongdoing.
IEDC deems Elevate Ventures, affiliates in breach of all active loans
Troubled venture capital company Elevate Ventures has been deemed “in breach of” lending language in all of its active loan agreements with the Indiana Economic Development Corp. after defaulting on an angel investment program this month.
Kyle Montrose and Joseph Champion: Accelerating Indiana’s economic growth through motorsports
But beyond the thrill of the race, motorsports represent a powerful engine for economic growth, job creation and technological innovation.
Pittsboro residents ask court to halt planned Hendricks County data center
Pittsboro officials annexed the property into the town late last year. In March, Pittsboro’s town council unanimously approved Vantage’s request to rezone the land.
Amid ongoing Elevate Ventures funding freeze, some companies approved for investments
Also, at Wednesday’s meeting, the IEDC board’s entrepreneurship committee updated the investment policy for the Indiana Angel Network Fund III LLC—the investment fund managed by Elevate Ventures through which the SSBCI money flows.
Judge orders Pure Development to wind down operations
One of central Indiana’s largest commercial development firms will be turned over to a court-appointed receiver in the coming weeks following a legal battle between the co-owners.
State hires firm specializing in ‘crisis and transformation’ to audit IEDC
Gov. Mike Braun announced the audit last month, citing potential “impropriety” at the IEDC. He also announced a freeze of all state funds associated with Elevate Ventures.
Indiana Economic Development Foundation releases annual audits at Braun’s demand
The state-affiliated nonprofit averaged more than $2 million in spending annually on travel and more.
Braun: State investigating possible ‘impropriety’ at IEDC, freezing venture capital funds
The actions stem from growing concerns over how the state conducts economic development activities, how much it spends on those activities and how transparent it is about its business.
Lawmakers slash state economic development funding by 25% in budget compromise
The new budget proposal provides more funding for operations and business-promotion support for the Indiana Economic Development Corp., but cuts five funds and programs totaling $35 million.
Gov. Mike Braun doubles down on campaign promises in first State of the State address
In his first State of the State address, Indiana Gov. Mike Braun on Wednesday doubled down on several of his campaign promises, focusing heavily on economic issues.
Lawmakers propose transparency measures for Indiana Economic Development Corp.
After a year of public scrutiny of the Indiana Economic Development Corp.’s operations, state lawmakers have filed bills seeking to increase transparency and oversight at the agency.
New bills seek to sever state business ties to companies in adversarial countries
A pair of recently filed bills seek to limit the state from making deals and contracting with businesses located in countries considered to be foreign adversaries.
Gov.-elect Braun announces leadership picks for commerce, education
David Adams, a former state workforce development commissioner, will be Indiana’s next secretary of commerce in Indiana Gov.-elect Mike Braun’s administration, while current Secretary of Education Katie Jenner will continue to lead the state’s education system.
EDC head David Rosenberg withdraws ‘premature’ conflict of interest ask
Commerce Secretary David Rosenberg withdrew his request to waive job change conflict-of-interest requirements midway through a State Ethics Commission meeting Thursday. A spokeswoman for his agency acknowledged the commission found his ask “premature” in comments to the Capital Chronicle.
Holcomb heading to Greece on latest trade trip
Indiana Gov. Eric Holcomb is scheduled to lead a trade delegation to Athens in a trip organized by the Council of State Governments.
Pure Development co-owner sues partner, seeks liquidation of company
Partners in one of central Indiana’s largest commercial development companies are fighting over the firm’s future amid one owner’s claim that the other has forced the departure of key staff and put hundreds of millions of dollars in potential business at risk.
Keystone says 87 burials discovered in excavation of proposed soccer stadium site
Just hours after Indianapolis Mayor Joe Hogsett’s administration said it was concerned about development of the downtown site where owner Keystone Group has been planning to build a 20,000-seat soccer stadium for the Indy Eleven, Keystone announced that archaeologists have discovered 87 burials on a portion of the property.