Hospitals Prepare For Health Exchange
The Indiana Hospital Association says next week's launch of a health insurance marketplace could help hospitals deal with Medicare cuts. Vice President Brian Tabor says hospitals have been coping with roughly $4 billion in Medicare reductions over 10 years. Under the Affordable Care Act, those savings for the government are being used to help expand coverage for the uninsured. Tabor says the health plans available on the new marketplace could help hospitals recoup money lost through the reimbursement cuts. Tabor also says there are concerns about businesses that could potentially "dump employees" on the new system.
Feds Announce Health Insurance Exchange Rates
The federal government has set insurance exchange rates for Indiana residents. The weighted average premiums for some of the lower cost plans range from roughly $300 to slightly more than $400. The enrollment period for the federal exchanges begins next week. The U.S. Department of Health & Human Services says some 27 year-old adults could expect to pay as little as $80 after tax credits to more than $300 without the credits for some of the lower-priced options. Similar rates for a family of four range from $46 to just under $100.
Fort Wayne Details Major Downtown Development
Fort Wayne's mayor says a $71 million partnership to transform a downtown block is part of "unprecedented positive momentum" in the city. Tom Henry says the project includes a new headquarters for Ash Brokerage Corp., which plans to add 115 jobs. It also involves a residential development featuring approximately 100 apartments, condominiums and townhouses. Henry says an influx of young professionals and students is creating a demand for more residential space. Henry says the "live, work, play" model is crucial to attracting people downtown.
Gap Growing in 'Middle-Skill' Jobs
An organization aiming to increase training among Indiana's work force says the largest segment of the state's skills gap comes from "middle-skill" jobs. A report from the Indiana Skills2Compete Coalition suggests fewer than half of Hoosiers have the training needed for those positions.
Heartland Automotive Details Major Expansion
An auto parts supplier is poised to create more than 220 jobs in Lafayette. Heartland Automotive LLC is planning to invest nearly $40 million into the expansion, which is driven by a more than $400 million expansion announced in May by the company's primary customer, Lafayette-based Subaru of Indiana Automotive Inc. Governor Mike Pence hinted at the announcement during a trade mission to Japan earlier this month.
INDOT Breaks Down Benefits of Amtrak Route
An analysis commissioned by the Indiana Department of Transportation suggests the operating and maintenance costs of keeping the Hoosier State Line running exceed the benefits. INDOT released the study yesterday as the state continues to talk with Amtrak about the passenger service, which is set to lose federal funding next week. The study outlines four "improved service options" that could annually boost ridership by as many as 164,000 passengers and revenue by more than $4 million. In order to implement the new options, the study suggests capital improvements along the route that would exceed $230 million over the course of many years.
Site Selectors Converge on Indiana
The chief executive officer of the Indiana Economic Development Association says an event this week allowed the group to hear the "unvarnished truth" about what site selectors think about the state. Lee Lewellen says the Site Selectors Guild discussed the global economy and what Indiana can do to become more attractive to businesses looking to re-locate or expand. The guild consists of site selectors from around the world representing industries including advanced manufacturing, life sciences and transportation. Lewellen says talent is a major concern for site selectors.
Longtime Company Could Close Its Doors
CMW International Inc. says if a buyer is not found, it intends to close its Indianapolis plant. In a notice to the state, the specialty metals company says the potential move would affect 100 employees. The permanent closing could take place in November. CMW says it has been in "intense negotiations" with creditors.
Indiana Companies Secure Defense Contracts
Three Hoosier employers have landed millions of dollars in funds from the U.S. Department of Defense. The contracts involve engine support and medical products from central and northern Indiana companies. The largest is a $406 million helicopter engine support contract for Rolls-Royce Corp. in Indianapolis. Another deal tops out at nearly $37 million and involves medical and surgical products from Warsaw-based Zimmer U.S. Inc. The last is a $19 million medical device contract for another Warsaw company, DePuy Orthopaedics Inc.
IMS Announces Road Course Race
The Indianapolis Motor Speedway will host an IndyCar Series race on its road course. The event will take place during the first weekend of May as part of the activities leading up to the Indianapolis 500. The speedway says it will reconfigure the road course to add more passing zones and better views for fans. IMS President Doug Boles says the new race is part of an effort to enhance the fan experience during the month of May.
States Move Forward on Illiana Expressway
An agreement is in place to finance, build and maintain the proposed Illiana Corridor. The Indiana Department of Transportation says both states will acquire their individual sections and use respective public-private partnership laws to enter into a deal to build and develop the route. The expressway would reach from I-65 in northwest Indiana to I-55 in Illinois.
Notre Dame Details Billion Dollar Impact
A new study commissioned by the University of Notre Dame is touting the school's $1.2 billion economic impact on St. Joseph County. The report indicates research, tourism and spending linked to the school also resulted in close to 14,000 jobs last year. Notre Dame says it is the county's largest employer with approximately 5,600 workers. Associate Vice President of Public Affairs Tim Sexton says the university has improved in several areas since a similar study five years ago.
Terre Haute Tech Scene Taking Hold
An organization designed to support startups in the Terre Haute area is gaining some momentum. Tech Haute aims to help build an infrastructure for startups, boost technology education and provide marketing services. Co-founder Shelley Klingerman says the education component includes letting the community know what is needed to help startups grow. During an interview on Inside INdiana Business Television, Klingerman discusses Tech Haute and the emerging startup scene in the Wabash Valley.
Hoosier Economies Shine in Federal Report
Three Indiana communities were among the top 10 fastest-growing economies in 2012, based on Gross Domestic Product. Elkhart-Goshen, Columbus and Kokomo ranked highly in a United States Bureau of Economic Analysis report. The bureau says durable-goods manufacturing spurred growth in those areas. Kokomo Mayor Greg Goodnight says his city and many others are hoping to maintain momentum by continuing efforts to diversify their economies. Goodnight believes education and quality of life also play major roles in the city's economic growth. Elkhart-Goshen ranked third in the nation, with 11.4 percent growth in 2012. Columbus was fifth at 9.6 percent growth. Kokomo ranked eighth, with 8.4 percent growth.
Police Dog Event Coming to Indiana
Dozens of public safety officials will converge on Jennings County for an international event next month. Indiana State Police will play host to the International Police Work Dog Association Nationals at the Muscatatuck Urban Training Center. The event, slated to run from October 28 through November 1, will feature scenario-based competitions and certifications.
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