ITR Concession Company LLC (ITRCC) is a subsidiary of

IFM Investors IFM Investors is a provider of investment services. As at 30 June 2021, IFM Investors invests on behalf of more than 550 institutions worldwide, including pension, superannuation and sovereign wealth funds, universities, insurers, endowment fun ...

that operates and maintains the

Indiana East–West Toll Road The Indiana Toll Road, officially the Indiana East–West Toll Road, is a tolled freeway that runs for east–west across northern Indiana from the Illinois state line to the Ohio state line. It has been advertised as the "Main Street of the ...

. ITRCC has its headquarters in

Elkhart, Indiana Elkhart ( ) is a city in Elkhart County, Indiana, United States. The city is located east of South Bend, Indiana, east of Chicago, Illinois, and north of Indianapolis, Indiana. Elkhart has the larger population of the two principal cities of th ...

. ITRCC assumed this responsibility from the

Indiana Department of Transportation The Indiana Department of Transportation (INDOT) is a governmental agency of the U.S. state of Indiana charged with maintaining and regulating transportation and transportation related infrastructure such as state owned airports, List of numbered ...

on June 30, 2006, in accordance with a 75-year lease agreement, included as part of the 2005 "Major Moves" legislation proposed by Governor

Mitch Daniels Mitchell Elias Daniels Jr. (born April 7, 1949) is an American academic administrator, businessman, author, and retired politician. A Republican, Daniels served as the 49th governor of Indiana from 2005 to 2013. Since 2013, Daniels has been pr ...

and enacted by the

Indiana General Assembly The Indiana General Assembly is the state legislature, or legislative branch, of the state of Indiana. It is a bicameral legislature that consists of a lower house, the Indiana House of Representatives, and an upper house, the Indiana Senate. ...

in November 2005. On September 22, 2014, ITRCC announced it had filed

Chapter 11 bankruptcy Chapter 11 of the United States Bankruptcy Code (Title 11 of the United States Code) permits reorganization under the bankruptcy laws of the United States. Such reorganization, known as Chapter 11 bankruptcy, is available to every business, whe ...

, and that a sale process for the asset would commence. IFM Investors on March 11, 2015, announced that it had entered into a $5.725 billion agreement for the right to operate the Indiana Toll Road and collect toll revenue. On May 27, 2015, IFM announced it had reached financial close on its acquisition of ITRCC, and thus inherited the remaining 66 years of the concession lease agreement.

References

External links

Indiana Toll Road Website
Government of Indiana Companies based in St. Joseph County, Indiana Toll road operators Toll roads in Indiana Companies that filed for Chapter 11 bankruptcy in 2014 {{US-company-stub