Commission Approves Major Project Incentives

Posted: Updated:
FedEx opened its Indianapolis hub in 1988. FedEx opened its Indianapolis hub in 1988.

The Metropolitan Development Commission in Indianapolis has approved economic development agreements with multiple companies looking to invest more than $450 million and create over 900 full-time and part-time jobs. The commission says the projects will also help retain more than 1,000 full-time jobs.

Mayor Joe Hogsett says the city, in one day, "supported development in logistics, foodservice and biotech." 

The largest product is from FedEx Corp. (NYSE: FDX), which plans to invest $385 million into new equipment at its hub at Indianapolis International Airport, creating 125 full-time and 450 part-time jobs by 2026. The abatement is expected to save the company $29 million.

Other proposals approved for incentives include Indianapolis-based CraftMark Bakery LLC, which is looking to invest more than $56 million to expand its current facility and add nearly 120 jobs. LifeOmic, founded by Indianapolis entrepreneur Don Brown, says it will invest $16 million to establish its headquarters at the IU Emerging Technology Center and create 225 jobs. And, India-based Infosys (NYSE: INFY) was approved for abatement to help offset the costs of installing IT equipment as part of its location in the OneAmerica Tower in downtown Indianapolis.

  • Perspectives

    • 5 Spring Cleaning Tips For Your Social Media

      We're finally there. Spring. And that I find... exciting! So, when thinking about spring, then spring cleaning, consider your social media clean up as well. When I read this week that an average brand has over 250 digital experiences now to manage online, if you have any type of digital footprint, you may not be far behind. Here are some tips to clean out and dust off that social media stuff.



Company Name:
Confirm Email:
INside Edge
Morning Briefing
BigWigs & New Gigs
Life Sciences Indiana
Indiana Connections


  • Most Popular Stories

    • 16 Tech estimates the first phase of development will create more than 2,600 jobs over 10 years.

      16 Tech Takes Big Steps Forward

      Indianapolis' 60-acre innovation community has announced two major boosts. The 16 Tech Community Corp. has landed a $38 million grant from Lilly Endowment Inc. to fund its initial development phase.The organization has also announced its first development agreement. The deal calls for Indianapolis-based Browning to construct three new buildings and renovate a facility as part of a $120 million investment. 16 Tech Community Corp. says the three-year grant sets the stage for...

    • Holcomb Names Workforce Council Chair

      Governor Eric Holcomb has made some leadership changes within his administration. The governor has selected Danny Lopez, who currently serves as his deputy chief of staff, as chairman of the new Governor's Workforce Council.

    • IoT Lab Opens With Eyes on Future

      The founder of the Indiana IoT Lab says the innovation and collaboration space is focused on an industry that will "future-proof" Hoosier businesses. John Wechsler says companies that are dialing into the Internet of Things are playing in a sector that is forecast to grow to $2.2 trillion. The facility Wednesday night hosted more than 700 at a grand opening event. Wechsler said some of the state's trademark industries will be "radically affected" by...

    • (photo courtesy Tow Yard Brewing Co.)

      Tow Yard Brewing Looking For Buyer

      Tow Yard Brewing Co. in Indianapolis is looking for a new owner. The company, which filed for Chapter 11 bankruptcy protection in January, plans to auction off all of its equipment at a court-ordered auction next month, unless a buyer comes forward to acquire the brewery. 

    • Toyota Supplier Planning Growth in Princeton

      Princeton-based Vuteq USA Inc. has announced plans to build a new facility in Gibson County. The Gibson County Economic Development Corp. has confirmed to Inside INdiana Business the company, which makes components for Toyota vehicles, will invest $27 million to construct a new support center and plant, which would employ 400 people by 2022. Vuteq currently has a plant located just north of Toyota Motor Manufacturing Indiana in Princeton.