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End punitive business personal property tax
The Indianapolis Business Journal
Gov. Pence is right when he says, “The time has come to phase out the business personal property tax” to “spur new investment and growth.”
A good step toward fulfilling the governor’s goal is to exempt production machinery and equipment from the personal property tax. Indiana’s economy is the most manufacturing-dependent in the nation, yet our state penalizes investments in production machinery and equipment by taxing those investments. It’s the old adage, if you want less of something, tax it.
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Jim Bittner — ICBR Member of the Month
Indiana Commercial Board of REALTORS
Each month, ICBR honors one of its members as Member of the Month. This month, we recognize Jim Bittner. Jim is a broker with RE/MAX Real Estate Groups in Anderson, Ind and a member of ICBR’s Professional Development Committee and ICREX Committee. Click here to read more about Jim.
Save the date — Indiana Commercial Real Estate Conference
Indiana Commercial Board of REALTORS
The Indiana Commercial Real Estate Conference will be held at the NCAA Conference Center in downtown Indianapolis on Friday, June 20. Join your fellow commercial real estate professionals for a day of continuing education and networking. This year’s conference will provide the required 8-hours of continuing education legacy brokers need for their license renewal. In addition, one last broker transition course will take place in the month of June with the last day being held at the NCAA Conference Center in conjunction with the conference.
US commercial real estate market finishes strong in 2013, according to CBRE Group, Inc.
The U.S. commercial real estate had a strong finish to 2013 with continued recovery in the fourth quarter, according to the latest analysis from CBRE Group, Inc. "Commercial real estate closed out 2013 on an encouraging note," said Jon Southard, Managing Director of CBRE's Econometric Advisors group. "Strong demand for space across all product categories bodes well for real estate investment and for the economy."
Construction spending: Strongest pace in years
U.S. construction spending rose in November at the strongest pace in more than four years, driven by solid gains in home construction and commercial projects.
The Commerce Department said construction spending increased 1 percent in November to a seasonally adjusted annual rate of $934.4 billion. That's the fastest rate since March 2009 and a slight improvement on the revised 0.9 percent gain in October.
Expansion of Indiana hospital underway
A three-year $55 million expansion at Indiana Regional Medical Center in White Township in Indiana County, is underway, along with a $5 million capital campaign to defray costs.
The expansion — called the Centennial Building Project in celebration of the hospital's 100th anniversary — will add to the hospital's 164 beds on the 50-acre campus. Six operating room suites, an Intensive Care Unit, a post anesthesia care unit, a 15-bed post acute care unit, an endoscopy unit and a linear accelerator will be added.
New roof first step to restoring Rivoli Theatre
Indianapolis Business Journal
One of the first significant steps in restoring the historic but dilapidated Rivoli Theatre on the city’s near-east side is almost finished.
Officials of the not-for-profit that owns the building, the Rivoli Center for the Performing Arts Inc., say a new roof should be installed on the building by the first of the year.
Fishers Chamber announces board chair
Inside Indiana Business
Kurt Meyer, President of Baseline, Inc., a commercial real estate company, has been appointed as the Chairman of the Fishers Chamber of Commerce Board of Directors for 2014.
"I've been a Fishers Chamber member since 1996 and have been astounded by the organizations' growth in numbers and more importantly the quality of business leaders and staff involved. As the voice of the business community, it is the responsibility of the Fishers Chamber of Commerce to work with City and State governments, the Hamilton Southeastern School System and all others who want to help us promote sound economic development to benefit all. 2014 will be an exciting year for the Chamber to say the least!"
Century-old Mass Ave landmark changes hands
Indiana Business Journal
The historic Marott Center at the foot of downtown's Massachusetts Avenue has a new owner. Local real estate firm Gershman Partners said that it bought the building and an adjacent 90-space parking lot for an undisclosed price. The assessed value of the five-story office complex is $1.5 million, according to the Marion County Assessor.
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