Boone EDC Insider

Issue: 41

October 17, 2013

Boone EDC Insider 

 

Dear   ,

 

As an organization, the Boone EDC is constantly researching and benchmarking to learn what our competing communities are doing to attract and retain business. 
 
The Boone EDC Insider is a compilation of noteworthy National and Indiana news about economic development trends. The articles featured in this newsletter do not necessarily reflect the opinions of the Boone EDC.
Bub's Burgers Drawing Other Business to Zionsville
Indianapolis Business Journal
 

ZIONSVILLE, Ind. - Take heart, Zionsville: Bub's is coming soon.

Crews are hard at work on a 5,000-square-foot outpost for Carmel-based Bub's Burgers and Ice Cream, which could open next month.

  

Bub's will anchor a three-building commercial center on South Main Street near 106th Street. The stand-alone restaurant includes outdoor seating on a covered deck overlooking Eagle Creek. (BYO bug spray.)

Anticipation has been building since the popular eatery signed on for the $3 million South Village of Zionsville West project last year. And developer Bob Harris said landing the burger joint helped attract tenants for the second building, under construction now.

Zionsville-based Confectioneiress Cupcakes & Sweets plans to open a second location in the 7,000-square-foot structure, Harris said, joining East Coast deli Sub Sixteen, Village Cleaners and Storen Financial Group. A fifth storefront is still available.

 

To Hear More

Indiana Among, 'Best States For Business'
Inside Indiana Business

 

Washington, D.C. - Wyoming, Florida, and Indiana rank among the ten best states for taxes on business, while companies in states like New York, New Jersey, and California must struggle with the worst tax codes in the country, according to the newest edition of the Tax Foundation's State Business Tax Climate Index.

 

Several states have moved in the rankings since last year, with Texas dropping out of the top ten for the first time, landing at #11, and Virginia and Kentucky both falling three places to #26 and #27, respectively. On the positive side, Arizona climbed five ranks to #22 and Kansas shot up six spots to #20. Several other states also saw smaller changes.

 

"The states that lost ground this year usually did so because they changed policy in a way that makes the tax code more complex, burdensome, or economically harmful," said Tax Foundation economist Scott Drenkard. "By contrast, the states that improved did so because they are moved closer to a tax code that collects revenue without unnecessarily distorting business decisions. Their tax codes became more neutral."

 

The State Business Tax Climate Index, now in its 10th edition, collects data on over a hundred tax provisions for each state and synthesizes them into a single, easy-to-use score. The states are then compared against each other, so that each state's ranking is relative to actual policies in place in other states around the country. A state's ranking can rise or fall significantly based not just on its own actions, but on the changes or reforms made by other states.

The top ten states in 2014 are Wyoming (#1), South Dakota (#2), Nevada (#3), Alaska (#4), Florida (#5), Washington (#6), Montana (#7), New Hampshire (#8), Utah (#9), and Indiana (#10).

 

See the States That Ranked the Lowest
Indianapolis Path Nears Completion
Indiana Economic Digest
 

INDIANAPOLIS, Ind. - The city of Indianapolis is close to opening a new 4-mile stretch of the White River Wapahani Trail south of downtown. The $2.7 million trail is due to be complete next month with a ribbon cutting scheduled for Nov. 15, Office of Sustainability spokesman Scott Manning said. Stretches on the north end near the Indianapolis Zoo are already seeing some use.

 

The path connects White River State Park to a multi-use path on Raymond Street, near Eli Lilly and Co.'s 255-acre private park. City officials expect employees of Rolls-Royce Corp., which is to the west on Tibbs Avenue, and Lilly will use the trail for recreation, or as an alternate route to downtown, Manning said.

 

The city used $1.9 million in federal funds and $789,000 from the Rebuild Indy fund to build the trail.

 

For More Information

 

Three Cities Seek Grant to Boost Manufacturing
Indianapolis Business Journal
 

Three central Indiana cities that have lost tens of thousands of auto industry jobs have joined together in seeking a $20 million federal grant aimed at helping attract new businesses to their empty factories.

The cities of Muncie, Anderson and New Castle have each put up $50,000 in matching money to $150,000 of federal funding toward strategy development on the grant proposals, The Star Press of Muncie reported.

The U.S. Economic Development Administration is expected to award three $20 million grants from among 10 groups that received the strategy funding, said Roy Budd, president of the East Central Indiana Regional Planning District.

"Muncie alone was not a compelling enough case to receive such a large grant, $20 million, so we got the mayors of New Castle, Anderson and Muncie to work together in a bipartisan way," Budd said.

The three cities have lost more than 40,000 jobs in past decades with the closure of General Motors and Borg Warner factories and numerous auto-related suppliers and service businesses, according to the federal grant application submitted by Brad Bookout, brownfields development manager for the district.

 

 How the Cities Applied

 

Delphi Adding to Trail System
Kokomo Pharos Tribune
 

DELPHI, Ind. - Inch by inch, a century of history was lowered over the Wabash and Erie Canal. The Gray Bridge, formerly the Houck Bridge that crossed Big Walnut Creek in Putnam County, found its new home at the Wabash & Erie Canal Park in Delphi.

 

Applause sounded from the group of about 20 who showed up as the 128-foot-long, 17-foot-wide iron structure weighing 43 tons was set atop the patches of concrete flanking the waterway.

 

After 18 months of volunteer efforts made possible by a state program and plenty of donors, a Delphi non-profit organization's project of adding even more antiquity to its already historic park and connecting the city's 10-mile trail system is nearly complete.

 

"It's really been an exciting day," said Dan McCain, president of the Wabash & Erie Canal Association, as he watched the installation unfold on the banks of the canal.

 

 How the Trail Connects to Downtown

 

In This Issue
Bub's Burgers Drawing Other Business to Zionsville
IN Among 'Best States for Business'
Indy Path Nears Completion
Three Cities Seek Manufacturing Boosting Grant
Delphi Adding to Trail System
Boone EDC Video Production: Zionsville Fall Festival 2013
Broad Ripple Project Approved
New Life for Kokomo Plant
Zionsville Fall Festival 2013
Zionsville Fall Festival 2013
  Boone EDC Video Production:
Zionsville Fall Festival 2013
Commission Approves Broad Ripple Project
Inside Indiana Business

 

BROAD RIPPLE, Ind. - The Indianapolis Metropolitan Development Commission has approved a zoning request for a more than $25 million mixed-use project in Indianapolis' Broad Ripple neighborhood.

 

The plan includes more than 100 apartments and a Whole Foods grocery store. The city-county council must still approve the project.

  

The plan, which is being developed by Carmel-based Browning Investments, also includes a parking garage. The Metropolitan Development Commission approved re-zoning by a vote of 5-2.

Broad Ripple cut the ribbon on another development earlier this year. That project features a $15 million parking garage and space for future retail and a police department substation.

See What the Project Will Look Like

 

New Life for Kokomo Plant
Inside Indiana Business

 

KOKOMO, Ind. -

 

Patriot Porcelain LLC, a manufacturer of vitreous china products, announced plans  to expand its operations here, creating up to 140 new jobs by 2014.

The company will invest $14,968,000 to purchase, renovate and equip a 330,000 square-foot facility at the former Kokomo Sanitary Pottery Plant in Kokomo.

 

The new facility, which is expected to be fully operational by June 2014, will allow the company to relocate its overseas lavatory and toilet manufacturing to its Kokomo operations.

 

"Indiana's solid fiscal house and low-tax environment continue to earn us national attention as a frontrunner for new jobs and investment," said Governor Mike Pence.

 

"Our state's emergence as an economic leader is no accident. We've worked hard to create a stable, pro-business climate that removes roadblocks to growth, paving the way for companies like Patriot Porcelain to succeed."

 

Patriot Porcelain will begin hiring engineering, maintenance, machine operators, quality control and packaging positions by the end of the year.

 

For More Information

 

 

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