Indianapolis Business Journal

The focus of our annual Innovation Issue is startups, including lndiana firms seeking to disrupt the health care, defense, agriculture and wearable device industries using AI, quantum computing and other emerging technologies. We also unveil the top 25 fastest-growing Indianapolis-area firms, as well as the winner of the Mickey Maurer Entrepreneur of the Year Award. And the lead debate in this week’s Forefront magazine stems from the question, “Are tariffs an effective way to bring manufacturing back to the U.S.?”

More IndyCar teams are choosing to locate headquarters in the Indianapolis area, and some of their young drivers have followed suit. Does that give them a home-field advantage in the Indy 500? IBJ’s Taylor Wooten has more on where the drivers on the grid are coming from. Also in this week’s issue, Daniel Lee reports on the efforts to reignite interest in scouting in central Indiana. And Daniel Bradley explains why fire departments are paying more for fire trucks that taking years to deliver.

Retailers across the Midwest and the nation are bracing for the full impact of tariffs imposed by President Donald Trump. IBJ’s Taylor Wooten asks local retailers how they’re preparing. Also in this week’s issue, Dave Lindquist explains how entertainment producers are working bring prominent artists to Indiana this summer while keeping costs affordable for fans. And Daniel Lee unravels the politically charged process that produced a complex piece of Indiana legislation pertaining to hospital systems that lawmakers hope will  lower health care costs for consumers.

Carmel-based Republic Airways Holdings Inc. is on its way to accomplishing something that’s been on its to-do list for several years: go public. Susan Orr explains the unconventional route Republic plans to take. Also in this week’s issue, cate Charron explores the potential repercussions of the property-tax relief plan signed into law by Gov. Mike Braun. And Dave Lindquist explains how chef Collin Hilton of Cunningham Restaurant Group whipped up the dish of a lifetime to win this year’s World Food Championships.

This week's issue features IBJ's Forty Under 40 class of 2025, with profiles of some of the region's up-and-coming leaders and a catch-up interview with Maureen Weber, a Forty Under 40 honoree in 2020 whom IBJ named Alumni of the Year for 2025. Reporter Susan Orr takes a look at how upheaval at the federal Food and Drug Administration is creating uncertainty for some Indiana companies, and Mickey Shuey writes about how the Caitlin Clark and off-season moves by the Indiana Fever are driving up ticket demand—and prices.

Old National Bank is working on a first-of-its-kind effort: the launch of an Indianapolis-based bank whose target customers are minorities and those underserved by traditional banks. Susan Orr reports on its progress so far. Also in this week’s issue, Daniel Bradley follows up on the still-unrealized plans by grocery chain Hy-Vee to open stores in Zionsville and Fishers, more than three years after they were announced. And Derek Schultz runs us through the $60.5 million overhaul of the Indianapolis Motor Speedway Museum.

There’s a method to the madness that is the NCAA Division I men’s basketball tournament, and it relies on the collective efforts of thousands of NCAA and university staffers, contractors, local organizers, venue workers and volunteers. Mickey Shuey takes us step by step through the process, including Indianapolis’ hosting gig for the Midwest Regional. Also in this week’s issue, Susan Orr explains how companies are quietly changing the way they talk about diversity—if not outright cutting back on DEI efforts. And Taylor Wooten details how local housing providers are preparing for potential cuts to the U.S. Department of Housing and Urban Development.

Indianapolis-based Prolific—a marketing, strategy and investment firm with many connections to Israel—has set its sights on attracting mor Israeli companies to Indiana. Susan Orr examines the ways that Indiana and Israel are closer than their geographic distance would suggest. Also in this week’s issue, Taylor Wooten has the results of a report that investigated how well township trustees in Marion County were dispersing financial aid designated to help vulnerable residents. And Mickey Shuey explicates the latest question related to Mayor Joe Hogsett’s drive to establish a Major League Soccer team in Indianapolis: Would it be a brand new team, or a team that moves from another city?

The new Cadillac Formula One team that will be headquartered in Fishers could bring with it more high-tech companies to take root in the city that has made the business of technology a focus for more than a decade. Also in this week’s paper, Susan Orr details dozens of lawsuits filed against a pair of brothers involving more than 200 residential properties around Indianapolis. And Daniel Bradley explains how Noblesville officials are trying to make the city’s downtown more pedestrian-friendly.

Daniel Lee reports on the progress made by Eli Lilly and Co. in selling its blockbuster weight-loss drug Zepbound directly to consumers. Daniel also has a front-page story about educational nonprofit Christel House International making its first major plans for global expansion since the death of its founder in 2020. And Daniel Bradley examines the surge of indoor golf facilities in the Indianapolis area and how it relates to an upswing in popularity for the sport.  

Mayor Joe Hogsett’s campaign to establish a Major League Soccer team in Indianapolis took a big step forward this week with the stamp of approval from Gov. Mike Braun and continued evidence that the Simon family is involved. Mickey Shuey reports on sentiment from insiders an sports business experts that the Simons could provide the credibility and at least some of the cash needed to get a deal done. Also in this week’s issue: Dave Lindquist explains how the owner of downtown’s new InterContinental Hotel is using unique visual art to establish the property’s local bona fides. And Cate Charron has your guide to the organizational chart in Braun’s fledgling administration.

Potential rollbacks of Biden-era policies that incentivized electric vehicle production and ownership have stirred apprehension among economic development officials across the state. IBJ’s Mickey Shuey reports on where things stand for billions of dollars in Indiana projects for electric vehicle and battery manufacturers. Also in this week’s issue, Daniel Lee takes stock of the headwinds blowing against Indianapolis-based health insurance giant Elevance Health, including the challenge of meeting Wall Street expectations while criticism of insurer profits grows louder. And Dave Lindquist has the story on the latest album by Rev. Peyton’s Big Damn Band, which is finding old-school success with a firm grip on the modern music industry.

IBJ's front page is dedicated to the issue of tariffs this week. Reporter Daniel Lee focuses on how Indiana could be affected—which industries are most vulnerable, what business leaders are saying about the impacts and what companies are most likely to find opportunities in the changes. Reporters also talked with three Indiana companies—Konrady Plastics in Portage, Hard Truth Distilling in Nashville and StagUSA Services in Anderson—to get more specifics about the impacts of President Donald Trump's trade policies. IBJ also talked with entrepreneur Brian Schutt, a co-owner of Homesense Heating & Cooling, about tariffs. Also, in this week's issue are stories about the financial problems and lawsuits that mean the WonderRoad music festival won't be staged again this year and the city of Carmel's initial thoughts about remaking the U.S. 31 office corridor.

The rising price of eggs has come to symbolize inflation at the supermarket, but the runup is due in large part to avian influenza—or bird flu. Taylor Wooten explains how Indianapolis-area brunch restaurants are dealing with price increases for one of their staples. Also in this week’s issue, Mickey Shuey digs deeper into the plans for a $78 million practice facility downtown for the Indiana Fever. And Daniel Bradley explains how the next phase of development for Grand Park Sports Campus—a new sports, entertainment and business district—is an example of the kind of economic development that Grand Park’s founders had envisioned as a byproduct of the project.

Leaders for the fast-growing town of Cumberland, a suburban enclave that straddles the line between Marion and Hancock counties, want to separate from Indianapolis government. Taylor Wooten explains the circumstances. Also in this week’s issue, Susan Orr explains why Indiana has become an attractive market for large-scale data centers run by tech giants such as Amazon, Google, Meta and Microsoft. And Dave Lindquist pulls up a chair with Travis Moore, owner of Black Orchid Barbers, to get the story behind the local chain’s growth to five shops, with more in the wings.

Hancock Health has expanded its reach beyond health care over the last seven years to become a master developer of a 160-acre medical, retail and housing project in western Hancock County. Mickey Shuey details the evolution of Hancock Gateway Park. Also in this week’s issue, Daniel Bradley examines the influx of out-of-state investment firms buying single-family homes in central Indiana—and how cities are seeking limits on single-family rentals. And Daniel Lee has the story of a Carmel firm that has launched an AI-powered app that provides mental health services.

From the outside looking in, Indianapolis Mayor Joe Hogsett’s pursuit of a major League Soccer club seems to have come to a standstill, although several parcels in and near the area earmarked for the arena have changed hands. Mickey Shuey brings us up to date on recent developments and the long list of hurdles that remain. Also in this week’s issue, Greg Weaver explores the why Indiana law firms prioritize lobbying as a necessary service for clints. And Daniel Lee has our annual compendium of Indiana-based philanthropic giving, topped by a $150 million gift to a university and listing more than 50 other donations around the state of $1 million or more.

IBJ arts reporter Dave Lindquist talked with Newfields’ latest CEO, who is bringing a financial background to the leadership of an organization that has struggled to find its footing after a stumble involving race several years ago. Reporter Susan Orr writes about the increasing demand for financial advisers, despite the online tools available to investors in the digital age. And North of 96th reporter Daniel Bradley writes about why developers and local government official increasingly see town houses as a solution to housing woes.