The Indiana Department of Transportation has officially taken over direct control of Section 5 of the I-69 project. The work, previously handled by a private sector group called I-69 Development Partners, has been fraught with delays and was initially slated to be complete last October. The Indiana Finance Authority has wrapped-up the settlement deal between I-69 Development Partners and the state and will reimburse the developer's bond holders for $246 million.
The IFA Board and State Budget Committee have spent the last two months reviewing the financial plan to complete the transaction, which was first agreed to mid-June. The authority says it will use highway-revenue bonds to pay off the private-activity bonds, which will save interest over time due to higher bond ratings through the state versus the developer's ratings.
Governor Eric Holcomb says "the state is officially in charge of this important project. Our focus is to complete this crucial stretch of roadway that provides a promising path to economic growth for Hoosiers and businesses in southern Indiana."
Section 5, a 21-mile stretch between Bloomington and Martinsville, is the second-to-last piece of the I-69 expansion that is ongoing between Indianapolis and Evansville.
By Brian Harris Executive Creative Director, Bradley and Montgomery
It may sound like a marketer’s dream scenario: efforts have proven to be so successful it appears a company has completely saturated their target audience. While it may be a good problem to have, it still may be a problem. Hitting a marketing plateau is an opportunity for companies in any industry to reevaluate, re-energize and come to the table with new ideas for better understanding existing customers and engaging new audiences.
FK Restaurant Group has named Shaina Keck sales and banquet manager for Pier 48 Fish House and Bar in downtown Indianapolis. She previously served in sales at Kilroy's Bar & Grill. Keck is a graduate of Indiana University Kelly School of Business with a bachelor of science degree in finance and accounting with a concentration in international studies.
The face of downtown retail in Hammond is changing once again with the demolition of Carson’s department store, the one-time the anchor of Woodmar Mall. Our partners at The Times of Northwest Indiana report excavating crews have started to demolish the last vestige of the shopping center which stood since the 1950s.
Pittsburgh-based U.S. Steel has announced it will idle its tin mill operations in East Chicago, affecting nearly 300 workers, half of which will lose their jobs. Our partners at The Times of Northwest Indiana report U.S. Steel blames the layoffs on the Del Monte food company which announced its own mass layoffs.
Last month, it became legal for Hoosier farmers to grow hemp and a Gas City-based startup is being aggressive in being among the first to take advantage of market opportunities. Heartland Harvest Processing is helping farmers connect the new agricultural commodity to consumer products, including CBD. Founder and Chief Marketing Officer Chris Moorman says the first hemp harvest under the new law is expected to begin next month. In an interview with Business of Health...
The city of Bloomington has promoted Lucy Schaich to volunteer network coordinator, a program of the Community and Family Resources Department. She served as assistant coordinator from 2000 until 2018, when she became the volunteer network’s interim director. Schaich is a graduate of Indiana University.