Marion County, Indiana has a population of approximately 970,000 and is home to the state capital of Indianapolis, IN. The Indy metropolitan area contains approximately 2M residents or 31% of total Indiana residents. The region is the nation’s 29th largest economic region with finance and insurance, manufacturing, professional and business services, education and health care, government and wholesale trade constituting major industry sectors.
As of October 2020, Mayor Joe Hogsett’s mask order –which began July 9– persists. For social gatherings and restaurants, quarantine limits also remain. Additional measures for rent assistance and “Restart Grant Program” are also available on the indy.gov website for local businesses and residents. Reports from physical retail establishments indicate continued sluggish sales at 20% or greater monthly revenue reductions.
Our featured small business this quarter is Monarch Distributing. “Small” might be a stretch as the 600 employees prepare to join Illinois based Reyes Beer Division in a sale scheduled to close on December 11, 2020. Phil Terry, CEO, said the sale was a difficult decision and very personal to the family. Monarch is Indiana’s largest beer distributor by a wide margin.