Companies Planning Growth in Indianapolis

Posted: Updated:

Five companies have announced plans for a combined $31 million in growth in Indianapolis. The projects range from a housing and retail development to a major dairy facility expansion.

All will go before the Metropolitan Development Commission Wednesday for preliminary tax abatement approval.

ConAgra Foods Inc. (NYSE: CAG) says its proposed $16 million investment could position the margarine and whipped topping production operation as a "leading facility" of its kind within the global company. The plan would retain more than 350 jobs and create 20 by next year. ConAgra says the equipment upgrades and production boost could "increase the likelihood of future investment in the facility."

Indianapolis-based Hurco Companies Inc. (Nasdaq: HURC) wants to retain 136 workers and add almost three dozen by 2017 with its $2.6 million investment. Plans to the city call for relocating motorized spindle manufacturing operations from an Italian plant to the company headquarters. Hurco says it would be the first manufacturing operation in the U.S. in "many years."

New Carlisle-based Just Packaging Inc. says it has outgrown its Indianapolis corrugated packaging manufacturing and distribution center and it needs to relocate 20 current employees to a larger facility. The $800,000 investment could lead to 25 new jobs by 2017.

TCT Four LLC plans to build a five-story mixed-use development on the site of a former parking lot. "Forte" will include more than 60 apartment units, retail space and involve a nearly $8 million investment. If complete, the project is expected to create a small number of full time jobs.

Indianapolis-based Republic Airways Holdings Inc. (Nasdaq: RJET) wants to pump nearly $4 million into a new training center near Indianapolis International Airport.

  • Perspectives

    • 3 Tips to Attract and Retain Employees in the Gig Economy

      The gig economy has been around ever since workers began looking for supplemental income, but, it has recently evolved with the introduction of technology. Companies emerging like Uber, Lyft and GrubHub, are changing the gig economy landscape of the workforce. The gig economy has attracted millennials and Gen Zers because of the flexibility and autonomy to work from anywhere, at any time.

  • Most Popular Stories

    • (Industrial hemp photo courtesy of Purdue University)

      Hemp Processor Announces Expansion

      Indianapolis-based BDX Indiana has announced plans to bring more than 100 new jobs to central Indiana, with about a third of those going to a planned hemp extraction facility in Westfield. BDX extracts CBD oil from Indiana-grown hemp and is a sister company of Biodynamic Ventures, the largest hemp grower in Indiana. The city says the phase one build-out of the overall $50 million project is expected to begin this month with production to start in December. 

    • Butler Blue III is retiring next spring as the school's mascot. (photo courtesy Butler University)

      Butler Mascot Set to Retire

      One of the best-known ambassadors for Butler University is stepping down, all four legs of him, at the end of the current academic year. The university says their furry mascot, Butler Blue III, is ready to retire after nearly eight years of greeting visitors, students and staff. 

    • (photo courtesy of Indianapolis International Airport)

      Indy Airport Showcases New Retail Offerings

      Indianapolis International Airport is celebrating the opening of the first wave of new retail offerings. The new stores are part of the airport's multi-year Concessions Refresh initiative, which aims to bring a greater mix of nationally-known brands, such as FAO Schwarz and Vineyard Vines, with more local offerings, including Natalie's Candy Jar and Fountain Square Market. In all, nine new retail stores opened Tuesday morning. In an interview with Inside INdiana Business...

    • (image courtesy of Pixabay/VIN JD)

      Cyber Security Battalion to be Located in Indiana

      Indiana’s growing defense industry is further expanding into the digital battlefield. Governor Eric Holcomb has announced a National Guard cyber battalion will be located in the Hoosier state. The 127th Cyber Protection Battalion will be made up of nearly 100 soldiers focused on cybersecurity and cyber warfare. 

    • CEO of Knox County Development Corp. Steps Down

      The president and chief executive officer of the Knox County Development Corp. has resigned. Kent Utt had held the position for five years. Officials say Utt will continue to work with the corporation’s leadership to ensure a smooth transition going forward.