Midwest ISO Expected To Expand

The Carmel-based Midwest Independent Transmission System Operator Inc., an organization that monitors electric reliability throughout the Midwest, has announced $15 million will be spent to build new or expand existing facilities.

The final decision will be made in late 2005 or early 2006, said Gary Rasp, a spokesman for Midwest ISO.

The project is part of an overall $150 million expansion, the bulk of which will be used for new hardware and software to implement a market-based congestion-management system.

To help fund the expansion, the state announced $6 million in incentives will be offered in tax credits and grants. Moreover, the city of Carmel announced a 10-year property tax abatement of up to $1.4 million and highway infrastructure improvement investments that benefits the expansion.

Midwest ISO is the Federal Energy Regulatory Commission-approved company responsible for coordinating the operation of the wholesale electric transmission system - an area that encompasses more than 96,000 miles of interconnected high voltage transmission lines in 15 Midwest states and Manitoba, Canada.

Kite Files for IPO

Indianapolis-based Kite Cos. has filed a statement with the U.S. Securities and Exchange Commission to raise $300 million in an initial public offering.

In its filing on the SEC's Web site, Kite identified itself as a firm focused primarily on the development, construction, acquisition, ownership and operation of neighborhood and shopping centers.

Kite owns several retail centers in the Indianapolis area and a retail property in Illinois, as well as office and other commercial properties.

Kite was listed as the 37th largest specialty contractor in the most-recent Midwest Construction ranking with $33.7 million in revenue.

IBEW, Group Announce Holiday Event Partnership

Indianapolis Downtown Inc., a promotion firm, has announced a partnership was signed for Indianapolis' annual Circle of Lights tradition.

Quality Connection and the International Brotherhood of Electrical Workers Local 481 have signed to become title sponsors of the event. Circle of Lights presented by the Contractors of Quality Connection and Electrical Workers of IBEW 481 is the name for the 43rd year of this downtown holiday tradition.

Volunteer union members of IBEW Local 481 have been installing the lights on the monument for 42 years. Each November and January more than 200 electrical workers volunteer to install and remove the 4,784 lights.

The event will take place on Friday, Nov. 26, the day after Thanksgiving.