Tuesday, September 28 2010
The State of Indiana is positioned among the best in the country to do business. Once we are out of the recession, Indiana can see major increases of new business opportunities. Here is a list that sheds light on this situation:
· Indiana created 56,000 private sector jobs this year. Almost 10% of all private sector jobs created nationwide. (5 times National Average)
· 42 States have raised taxes--Indiana has cut taxes (only State)
· Indiana is ranked 2nd Nationally in Fiscal responsibility.
· Because of our Fiscal soundness, Indiana is the friendliest state to grow a business.
· Our State Pension debt is funded—Unlike other States
· We are in a better place than we have ever been—Any Company thinking about expansion is looking at Indiana.
· Indiana took advantage of the Stimulus Package better than any other State, because we had the money to start projects, prior to receiving Stimulus money.
Wednesday, July 28 2010
In a slow economy, downtown Newburgh grows.
Many downtown areas have been hit hard in recent years, but others have managed to strive.
During an economic slow down it is not uncommon to see signs for going out of business sales, but it is uncommon in downtown Newburgh.
Since January, the downtown has seen six new businesses, and it is expecting even more.
Shops, restaurants and bits of history line the streets of downtown Newburgh, making it a welcoming destination.
"We are really interested in making Newburgh a wonderful place to come and shop," said Newburgh business owner Kelly Hutchins.
Words of praise are being bestowed on Historic Downtown Newburgh, which promotes the business district.
The organization was recently named a 2010 National Main Street organization from the National Trust for Historic Preservation.
The award recognizes efforts to bring new business to the area.
"It's been a real team effort on moving forward with downtown Newburgh," said Caitlin Poe of Historic Downtown Newburgh. "I think that together we've all been able to move forward and the National Main Street program recognizes that."
So far this year, there are six new businesses that are calling downtown Newburgh home. Last year, there were five.
There was just one business closure in 2010 which the organization says it hopes to turn into an upscale restaurant.
"In this down economy, it's amazing news and we're so proud of it," said Poe.
Historic Downtown Newburgh says its success comes from active promotion in attracting new businesses, and that success should continue for many more years.
Historic Downtown Newburgh is one of only two National Main Street organizations in southwest Indiana, the other is GAGE in Evansville.
Thursday, July 22 2010
A Canadian auto supplier is expanding in Gibson County. Windsor Machine Group plans to hire 50 employees at its Princeton plant to help fill orders for Ford Motor Co. (NYSE: F). The company currently employs 32 at the Gibson County operation, which produces headrests for Toyota Motor Manufacturing Indiana Inc.
Windsor Machine Croup, makers of automotive headrests, seating components, exhaust suspension systems, modular assemblies, rubber and plastic products and structural brackets and braces; headquartered in Windsor, Ontario is expanding it's Princeton, Indiana plant in Gibson County and will hire 50 new employees.
"With the help of the Gibson County Economic Development Corporation, Economic Development Coalition of Southwest Indiana, Indiana Office of Community and Rural Affairs, and the Gibson County Commissioners we were able to secure a $500,000 Disaster Recovery Grant through a Community Development Block Grant program to purchase a Konal Polyurethane Foaming Assembly Line Machine which will allow us to fill orders for Ford Motor Company in both Kansas City, Missouri and Louisville, Kentucky said Windsor CFO Dave Zultek.
B. Todd Mosby, President and CEO of the Gibson County Economic Development Corporation stated the news will be welcomed by residents in the tri-state. He said, "The Gibson County Commissioners will be the actual owners of the property for the first 5-years as Windsor works to complete criteria set forth in the grant. Once the criteria is met, Windsor will take 100% possession of the machine."
Windsor Machine Group currently employs 32 people in their Princeton plant where they produce headrests products for Toyota Motor Manufacturing, Indiana.
The Gibson County Economic Development Corporation is a 501 c(3) not-for-profit corporation located at 202 E. Broadway Street in Princeton. The Gibson County Economic Development Corporation was formed in 2006 with a mission to coordinate, assist, and advise Gibson County in economic development activities.
Source: Gibson County Economic Development Corporation & Inside INdiana Business
Monday, May 17 2010
Jasper-based German American Bancorp Inc. (Nasdaq: GABC) says it has completed the purchase of two Evansville-area Farmers State Bank branches. The deal expands German American's presence to Evansville and Newburgh.
German American Bancorp, Inc. (Nasdaq:GABC) announced its banking subsidiary had completed its purchase of two Farmers State Bank offices in or near Evansville, Ind.
By this purchase, which is expected to be accretive to German American's earnings per share upon completion of a transition period during the 12 months following the closing of the transaction, German American has expanded its geographic footprint to the Southern Indiana markets of Evansville and Newburgh in Vanderburgh and Warrick Counties, respectively.
German American acquired approximately $51 million of deposits and approximately $44 million of loans at the closing of the transaction, plus the real estate and leasehold improvements at the two branch locations and miscellaneous assets.
Schroeder continued, "We welcome Doug Diekmann, as Market President, and his Evansville team, who will further enhance our growth opportunities under the German American brand. We believe that customers will be very receptive to our comprehensive banking, insurance and investment lines of business and the personalized delivery that is a hallmark of our community banking roots."
About German American
German American Bancorp, Inc. is a NASDAQ-traded (symbol GABC) financial services holding company. German American, through its principal banking subsidiary German American Bancorp, now operates 30 retail banking offices in 12 contiguous southern Ind. counties. The company also owns a trust, brokerage and financial planning subsidiary, operated from its banking offices, and a full service property and casualty insurance agency with seven offices throughout southern Ind.
Source: German American Bancorp Inc. & Inside INdiana Business
Friday, May 14 2010
Real estate can be an engine or a brake for the U.S. economy. And today, it's mostly slowing things down.
"The housing market, since it was the epicenter of the crisis, is also central to the feeble recovery," says Ethan Harris, an economist at Bank of America Merrill Lynch.
Everything is interconnected: Employment is closely tied to construction spending, which is 25 percent below what it was in 2006. And because property values remain low, many people are mired in debt and can no longer rely on home equity to help them out of it.
The decline in property values is also preventing small businesses from using equity to expand. And lower property values mean lower property taxes, which dents government spending on everything from teachers to police officers.
Source: The Wall Street Journal, Conor Dougherty (05/10/2010) http://www.realtor.org/RMODaily.nsf/pages/News2010051004?OpenDocument
Thursday, January 14 2010
Ligonier-based Emergency Radio Service Inc. (ERS) has made an acquisition in the Evansville market. It has acquired Tri-State Communications Inc., which has been in southern Indiana since 1957. ERS already has more than 130 workers in offices throughout the state including Fort Wayne, South Bend and Indianapolis.
Evansville, Indiana—January 12, 2010— Emergency Radio Service, Inc. (ERS), of Ligonier, Indiana announced today the acquisition of TSC, Inc., dba Tri-State Communications, of Evansville, Indiana. Tri-State Communications has been an Authorized Motorola Dealer since 1957, and serving the Southwest Indiana region.
“We are very happy to have Tri-State Communications as a part of the ERS family and look forward to the opportunity to work with their team and their many years of experience in the territory.” says Brian Hull VP/GM of ERS, “We are eager to put our combined knowledge and resources to work in Southern Indiana and build on what we have accomplished over the past 62 years.”
ERS has a wide offering of wireless solutions and a dedication to emerging technologies. ERS provides the full line of Motorola two-way radios, wireless networking systems, wireless video surveillance, and emergency communications solutions. ERS has expertise in technologies such as Mesh, point-to-point and point-to-multipoint broadband, and leads the way in indoor WLAN, WWAN, VoWLAN and mobile computing solutions.
ERS is an Authorized Motorola Two-Way Radio Dealer, Motorola Manufacturer Representative, Premier Service Partner, and a Motorola Authorized Channel Partner for Wireless Broadband and Enterprise Mobility.
TSC, Inc has been in business for over 50 years providing high quality two-way radio communications systems to the Government, Public Safety, Commercial and Enterprise customers with offices located in Evansville and Huntingburg, Indiana.
Emergency Radio Service, Inc has been a family owned business since 1948 with a dedicated staff of over 130 members in offices and Service Centers located in Elkhart, Evansville, Fort Wayne, Indianapolis, Kokomo, Ligonier, Muncie and South Bend, Indiana. ERS has developed their business with the promise to provide Exceptional Customer Service, earn Customer Loyalty, conduct business in an Honest and Ethical manner with Knowledgeable Employees to provide High Quality Products and Outstanding Field Service at Fair Competitive Prices.
Source: Emergency Radio Service Inc. & Inside INdiana Business http://www.insideindianabusiness.com/newsitem.asp?ID=39572