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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.


Source: Inside INdiana Business, The Wall Street Journal, Indiana Department of Workforce Development.

http://www.insideindianabusiness.com/newsitem.asp?ID=42263

Posted by: Rolando Trentini AT 08:00 am   |  Permalink   |  Email
Friday, November 27 2009

WindStream Technologies Inc. is locating a new development and production facility in the Purdue Research Park of Southeast Indiana and creating 260 jobs by 2012. The small scale wind turbine manufacturer plans to invest several million dollars to establish a new operation at the Purdue Technology Center in New Albany. The startup, currently operating out of Manhattan Beach, California, is looking for assembly and distribution workers and professional staff.

NEW ALBANY, Ind. (Nov. 23, 2009) - WindStream Technologies, Inc., a manufacturer of wind energy technology announced today that it will site a new development and production facility here, creating more than 260 new jobs by 2012.

The company, which manufactures small scale wind turbines called TurboMills, will invest several million dollars to establish its newest operations at the Purdue Technology Center in the Purdue Research Park of Southeast Indiana.

"WindStream Technologies represents yet another win for Indiana's growing renewable energy economy," said Governor Mitch Daniels. "We know the partnership created by WindStream and Purdue Research Park will result in new high-growth opportunities for Hoosiers."

The startup, currently operating out of Manhattan Beach, Calif., plans to begin hiring assembly and distribution associates and professional staff as facility and equipment upgrades are made at the site.

"We are very excited about the opportunity of locating our operations in New Albany and the support that Indiana has pledged to the company. It was clear from our first discussions that Indiana is looking to become a leader in the green economy and WindStream is proud to be a part of that positive effort," said Dan Bates, president and chief executive officer of WindStream.

WindStream's TurboMills are designed to capture wind energy in urban settings. The devices are engineered to be an efficient, low-cost option used to supplement a customer's energy needs, reducing electricity cost and carbon footprint.

"Companies such as WindStream Technologies fit in well with the environment of the Purdue Research Park network," said Joseph B. Hornett, senior vice president, treasurer and chief operating officer of the Purdue Research Foundation. "WindStream Technologies is the second company to move from another state into the Purdue Research Park of Southeast Indiana, which shows that the state of Indiana is a highly coveted location for businesses to prosper."

The Indiana Economic Development Corporation offered WindStream Technologies up to $1.5 million in performance-based tax credits and up to $84,500 in training grants based on the company's job creation plans. The city of New Albany will provide additional funding for facility improvements and equipment purchases at the request of One Southern Indiana.

"We are excited about these jobs and very proud to welcome WindStream Technologies as our newest corporate citizen," said Mayor Doug England. "Attracting a cutting edge company such as this to New Albany is evidence that the Purdue Research Park of Southeast Indiana will play a critical role in this region's future economic prosperity."

WindStream's announced expansion in New Albany comes only two weeks after Kemper Foods announced it would invest more than $6.8 million to expand its food production facility here, creating more than 350 new jobs by 2012.

About Windstream Technologies
WindStream Technologies is a developer of small scale wind turbines for the micro wind power market. The company, based in Manhattan Beach, Calif., has created technologies and manufacturing processes for the development and assembly of small scale wind turbines to capture wind energy in urban settings. Captured energy is used to supplement the energy requirement of low-power systems and equipment.

About Purdue Research Park
The 725-acre Purdue Research Park (http://www.purdueresearchpark.com ) has the largest university-affiliated business incubation complex in the country. The park is home to more than 160 companies. About 100 of these firms are technology-related and another 39 are incubator businesses. The park is owned and managed by the Purdue Research Foundation. In addition to the Purdue Research Park in West Lafayette, the foundation has established technology parks in other locations around Indiana including Indianapolis, Merrillville and New Albany.

About IEDC
Created by Governor Mitch Daniels in 2005 to replace the former Department of Commerce, the Indiana Economic Development Corporation is governed by a 12-member board chaired by Governor Daniels. Indiana Secretary of Commerce Mitch Roob serves as the chief executive officer of the IEDC. For more information about IEDC, visit www.iedc.in.gov .

Source: Indiana Economic Development Corporation & Inside INdiana Business 

http://www.insideindianabusiness.com/newsitem.asp?ID=38851

Posted by: Rolando Trentini AT 02:38 pm   |  Permalink   |  0 Comments  |  Email
Saturday, September 26 2009
 

Indiana's Business Tax Climate Ranking Improves

Sept. 24, 2009- Indiana's growing national reputation as a great state to do business has received another boost. The state moved up two places in the Tax Foundation's 2010 Business Tax Climate Index for business tax climate. Indiana is 12th overall, up from 14th in 2009, and remains the top state in the Midwest for business tax competitiveness.

The Tax Foundation is a nonpartisan tax research group based in Washington, D.C. 
 
Rankings for other nearby states include Michigan 17th; Kentucky 20th; Illinois 30th; Wisconsin 42nd; Minnesota 43rd; Iowa 46th; and Ohio 47th. In its seventh year of publication, the report measures five indexes of states' business tax competitiveness including property tax rates, sales tax, individual tax, corporate tax and unemployment insurance taxes.  The Tax Foundation presents the Index annually as a tool for lawmakers, businesses and individuals to gauge how their states' tax systems compare.

"While other states are imposing tax increases to cover budget shortfalls, Indiana's solid fiscal house and competitive tax environment have earned us national attention as a frontrunner for new jobs and investment," said Mitch Roob, Secretary of Commerce and chief executive officer of the Indiana Economic Development Corporation.  "While there is still much work to be done, Governor Daniels' focus on job creation and economic development continues to pay off, even during a time of national recession."
 
The Tax Foundation study is the latest in a series of national accolades the state has scored in economic development.  In March, Chief Executive magazine found the Hoosier state to be the best place to do business in the Midwest and among the top 11 states nationwide for business, according to feedback from more than 500 businesspersons and published in its annual "Best & Worst States" survey.
 
The Tax Foundation's full report is available at http://www.taxfoundation.org/

Source: http://www.in.gov/gov/3325.htm

Posted by: Rolando Trentini AT 10:00 am   |  Permalink   |  0 Comments  |  Email
Saturday, September 05 2009

The U.S. Department of Energy has approved the state's proposal to use nearly $132 million in federal stimulus funding to help more than 30,000 low-income Hoosier households. Within the next two weeks, auditors will begin evaluating residences to determine energy needs. The state says it has trained 190 energy auditors and 483 contractors. Following the audit, homeowners may receive energy savings equipment including programmable thermostats, insulation, new furnaces or hot water heaters.

The state's energy conservation proposal to use nearly $132 million in federal stimulus funding to help more than 30,000 low-income Hoosier households has been approved by the U.S. Department of Energy.

“We appreciate the department giving the green light to our program. We’re eager to get going,” said Governor Mitch Daniels. “Our goal is to lower utility costs for as many people as possible as quickly as possible, putting a dent in Indiana’s overall energy consumption along the way.”

This new program, combined with annual weatherization programs operated by the Indiana Housing and Community Development Authority (IHCDA), will be 11 times the total of all current annual weatherization programs. New non-profit partners such as the Rural Electric Member Cooperatives (REMC) and the Indiana Builders Association, Inc., will be involved for the first time.

Within the next two weeks, energy auditors will begin evaluations of households to determine energy needs. To date, the state has trained 190 energy auditors and 483 contractors. The state will have exceeded its training goals by the end of September.

Eligible households, which must be at or below 150 percent of the federal poverty level, will be notified of their participation. Those who have already qualified for the state’s Energy Assistance Program will be contacted, and priority will be given to elderly and disabled residents and families with children.

Following the audit, homeowners may receive energy savings equipment such as programmable thermostats, insulation, new furnaces or hot water heaters. A state quantity purchasing plan will be used to purchase those materials in bulk using the state’s Buy Indiana initiative, to the extent allowable by the American Recovery and Reinvestment Act legislation.

“The Obama administration has flagged weatherization as its number one concern for potential fraud under its stimulus package. While stretching dollars to reach more households, central purchasing will eliminate the chance for fraud or cronyism on the materials front,” said Sherry Seiwert, executive director of IHCDA.

Expenditures of up to $5,000 per household will be made. It is expected that about 2,000 contractors will be used to complete the work in Indiana households.

Earlier this year, the IHCDA sought bids and selected non-profit entities from throughout Indiana to administer funds and oversee completion of the first half of the energy conservation work for $55 million. The contracts with 30 service providers will be performance based; measurements will include how much conservation is achieved per dollar spent, and renewal will depend on each provider’s results.

A list of the selected service providers may be found at this link: http://www.in.gov/ihcda/files/Press_Release_ecp_service_providers.pdf

Source: Office of the Governor  http://www.insideindianabusiness.com/newsitem.asp?ID=37411

Posted by: Rolando Trentini AT 07:00 am   |  Permalink   |  0 Comments  |  Email
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The Trentini Team
F.C. Tucker EMGE REALTORS®
7820 Eagle Crest Bvd., Suite 200
Evansville, IN 47715
Office: (812) 479-0801
Cell: (812) 499-9234
Email: Rolando@RolandoTrentini.com


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