Daily Archives: February 17, 2010

Indiana Gets TIGER Funds

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Indiana will receive $20 million in federal funds for the Indianapolis Bicycle and Pedestrian Network, and share another $20 million with Kentucky to replace a structurally deficient and functionally obsolete bridge over the Ohio River between Milton, Kentucky and Madison, Indiana,

The projects are among 51 selected nationwide by the U.S. Department of Transportation for its $1.5 billion TIGER (Transportation Investment Generating Economic Recovery) Discretionary Grant Program, part of the American Recovery and Reinvestment Act (ARRA).

The Milton-Madison Bridge Replacement, proposed by the Kentucky Transportation Cabinet, will cost a total of $130 million. The bridge, constructed in 1929, is estimated to have less then 10 years of serviceable life left.

The Indianapolis Bicycle and Pedestrian Network, proposed by the City of Indianapolis and the Central Indiana Community Foundation, is a $62.5 million project which seeks to: revitalize an eight-mile network in downtown Indianapolis; improve livability by connecting commercial, residential and cultural venues; and foster sustainability by providing alternatives to auto travel and reducing emissions. More than $26 million has already been contributed toward the project by private foundations, individuals and local corporations.

BP to Lease More Than 500,000 SF in Portage

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TCB Development/Tobin Development , Lee & Associates of Illinois LLC, and New Vista Investment Group, LLC on behalf of Workers Realty Trust II have announced that BP Products North America will lease the 574,249 square foot Midpoint USA (6515 Ameriplex Drive, Portage, IN) in the Ameriplex at the Port complex. The lease is part of the Whiting Refinery Modernization Project.

Midpoint USA is the largest speculative industrial building developed in Northwest Indiana and represents a multi-million dollar investment. Midpoint USA sits on 31 acres with an adjacent 23 acres for anticipated growth.

“We saw opportunity in Northwest Indiana. Northwest Indiana has a business friendly environment and logistic advantages superior to Northeast Will County, Illinois. We capitalized on these positives with a state of the art speculative building. And had several interested prospects,” said Midpoint developer, Kevin Tobin, Principal of Tobin Development. “Great regional partners like the Northwest Indiana Forum, the City of Portage, NIPSCO and the IEDC [Indiana Economic Development Corporation] made this development a success and a win for all parties.”
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Two Marriot Place Indianapolis Hotels to Open Thursday

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The SpringHill Suites by Marriott Indianapolis Downtown and Courtyard by Marriott Indianapolis Downtown are opening for business on Thursday, February 18. These two properties join the Fairfield Inn & Suites by Marriott Indianapolis Downtown and TGI Friday’s (opened February 3) and the JW Marriott Indianapolis Downtown (opening February, 2011) to make up the landmark, $450 million Indianapolis Marriott Place development, which is changing the face of downtown Indianapolis.

“Just as Indianapolis is continuing to grow, Marriott Place is growing with the addition of these two new properties,” said Michael Kauffeld, general manager of the SpringHill Suites and Courtyard by Marriott Indianapolis Downtown. “With these two new hotels now open, travelers to Indianapolis have more options than ever before, steps from great attractions like White River State Park, the NCAA Hall of Champions, the Indiana State Museum and the Convention Center.”
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Notes: Unemployment Tax House Vote Today

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An Indiana House panel will vote on delaying an increase in the unemployment tax for businesses today. The state Senate has already passed a measure in favor of the delay.

Due to the wintry weather, Muncie Gras 2010 has been postponed until March 20.

The Fort Wayne City Council has signed off on spending $325,000 to fund the Northeast Indiana Regional Partnership and the Fort Wayne-Allen County Economic Development Alliance.

Indianapolis Airport officials are pushing ahead with plans for an “Aerotropolis.”

Indianapolis residents had an opportunity to chime in on a $10 billion mass transit plan last night.

State funding cuts have forced WNIT public television in Elkhart to cut staff.

The town of Porter is trying to figure out what to do about a collapsing 70-year-old sewer system.

Indiana House Speaker Patrick Bauer (D – South Bend) has bailed as the sponsor of the Illiana Expressway legislation currently before the House.

Not everyone is Indiana is upset about all the snow.

RV Maker Bound for Grant County

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Earthbound RV, LLC, a maker of fuel-efficient recreational vehicles, will site a new manufacturing operation in Grant County, creating up to 300 new jobs by 2013.

The newly established firm will invest in the purchase of new equipment and make upgrades to an existing facility located at 1001 East 38th Street. The company plans to lease 92,000 square feet of the building for its assembly operations and headquarters.

“As expected, the RV industry is reinventing itself and starting to bounce back,” said Governor Mitch Daniels. “We couldn’t be happier to see the revolution happen here in Indiana, a state known for high quality production and skilled workers.”
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