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.
Thursday, August 12 2010
From a price perspective, the latest news is good for the housing market. Home prices for the second quarter are up on a year-over-year basis in almost two-thirds of the big metro areas that the National Association of REALTORS® tracks, and in almost 10 percent of markets, the gains were in the double digits. The national median home price at the end of June was $176,900, about 1.5 percent higher than the same time last year.
Although the clear firming up of prices is positive, the question you’re no doubt asking is: What happens going forward? The second-quarter data reflects the impact of the home buyer tax credit. When it comes out, the third-quarter data won’t have the stimulus effect of that credit. So, what the numbers look like at the end of September will be illuminating.
Based on his most recent comments, NAR Chief Economist Lawrence Yun believes prices should hold steady, with no swings either up or down, for the near term even though the tax credit is gone and the economy isn’t being cooperative. The reason for the predicted stability is the way prices change over time. Price shifts tend to reflect longer-term trends, and the long-term trend for the past year or so has been stabilization.
As I interpret his point, there would have to be a significant shift in the economy for big changes to show up in broad home price trends. So, if the economy remains sluggish but doesn’t lurch downward, prices could remain relatively stable (with small up or down movement on a month-to-month basis) for the next several months. But if the economy remains sluggish until, say, the end of the year and beyond, then prices could be affected.
Of course, you have to approach national price data with a realistic eye. Last year, distressed sales comprised almost 40 percent of sales, compared to a little over 30 percent this year through the second quarter. That means some of the price improvement could be the result of the different mix of properties, not price appreciation.
The bottom line, though, is that prices so far are stable. That’s good for consumer confidence. When the stable prices are combined with historically low rates (about 4.9 percent on average right now for long-term, fixed-rate financing), you have good conditions for the market. For that reason, housing prospects are really hinging on jobs. Tepid job growth is the main impediment to rising consumer confidence.
Access NAR’s latest quarterly price data for yourself: Metro Area Median Prices.
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
Tuesday, June 22 2010
Job growth in Indiana is receiving national attention. The Wall Street Journal reports the state has experienced the largest percentage increase in the nation in jobs over the past year. The 1.9 percent increase is due mainly to an increase in manufacturing jobs.
The article follows last week's release of the state's May unemployment report, which showed Indiana's jobless rate remained at 10 percent.
It also indicated private sector employers throughout the state recorded 6,3000 additional jobs in May.
The Indiana Department of Workforce Development also says total private sector employment has increased 2.1 percent since December, with a total gain of 47,900 jobs.
DWD says that accounts of 10 percent of total U.S. private sector job growth over the past five months.
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