IIB WEEK IN REVIEW: 'Peyton effect' lifting Indianapolis

2013-10-19T14:37:00Z IIB WEEK IN REVIEW: 'Peyton effect' lifting IndianapolisGerry Dick Inside Indiana Business nwitimes.com
October 19, 2013 2:37 pm  • 

The vice president of marketing and communications at Visit Indy says this weekend's return of former Indianapolis Colts quarterback Peyton Manning is expected to be a boon for the city's economy. Chris Gahl tells Inside INdiana Business downtown hotel rooms are at "virtual sellout" levels.

 

$30 Million Gift to Fund New Notre Dame Building

The University of Notre Dame has received a $30 million donation. The gift from Donald and Marilyn Keough will go toward a new institutional studies facility on the South Bend campus. It will be named in honor of current President John Jenkins.

 

Stark Industries Cuts Ribbon in Terre Haute

Stark Industries officials have marked the opening of a $4 million relocation initiative. The company, formerly Brazil-based JWS Machine Inc., recently moved into a vacant building at the Terre Haute International Airport and is planning to add nearly a dozen workers by the end of the year. Stark already employs 50 at the Vigo County operation.

 

Illiana Expressway Takes Step Forward

A proposed corridor to connect northwest Indiana and the Chicago metropolitan area has landed a key approval. The Chicago Metropolitan Planning Organization's policy committee voted yesterday to include the Illiana Expressway project in its comprehensive regional plan. The proposal needed the group's support to seek federal funding.

 

Medical Distributor Moving to Indiana

Illinois-based MAC Medical Supply Company Inc. is planning to locate warehousing and shipping operations to northwest Indiana. The company says the move from Tinley Park, Illinois to Munster will create 40 jobs by 2016.

 

Estridge Begins New Venture

A longtime central Indiana home builder's new company has secured $25 million for a new development. Estridge Homes LLC, led by Paul Estridge Jr., has closed on the funding deal with a North Carolina investor. The money will be used for a 270-acre development in Westfield.

 

Indiana Tech Companies Continue to Shine

The head of the state's technology initiative believes Oracle Corp.'s (NYSE: ORCL) acquisition of Indianapolis-based Compendium is "great validation" of Indiana's strong presence in the marketing technology space. TechPoint Chief Executive Officer Mike Langellier says Thursday's deal and the recent purchase of ExactTarget by Salesforce.com Inc. (NYSE: CRM) are part a trend of bigger players acquiring experience, products and talent in a technological growth area. Oracle did not immediately announce terms of the deal for the cloud-based marketing provider. Langellier says the deal is another sign that Indiana's marketing tech focus is paying off.

 

Fight to Repeal Device Tax Rolls On

The chairman of Bloomington-based Cook Group Inc. says the fight to repeal a federal medical device tax will continue. The 2.3 percent tax went into effect earlier this year as part of the Affordable Care Act and was not included in the package that ended the partial government shutdown. Steve Ferguson says the tax will continue to force the industry to look overseas for growth opportunities. He says Cook and other companies are taking steps to deal with the tax.

 

Indiana Schools Make 'Best Colleges' List

Four universities in the state are on a national publication's ranking of the top 200 colleges in the nation. The Daily Beast's "Down + Dirty Guide to The Best Colleges" examined data from nearly 2,000 institutions. Overall, the University of Notre Dame is the highest ranked in Indiana, placing 30th. Indiana University is 69th, Purdue University places 74th and DePauw University comes in at 138th.

 

Two Hoosier Republicans Vote to End Shutdown

A couple of Indiana Republicans in the U.S. House of Representatives voted in favor of the package to end the partial shutdown of the federal government and avoid default on U.S. debt. The bill passed the chamber last night and was quickly signed by President Barack Obama. Congressman Marlin Stutzman (R-3) voted against the proposal, in part because it does not repeal the medical device tax that he says "threatens thousands of Hoosier jobs." Susan Brooks (R-5) and Todd Young (R-9) voted for it.

 

Final Hoosier Heartland Section Opens

The last section of one of the state's largest road construction projects is complete. The Hoosier Heartland Corridor, including the stretch between Logansport and Delphi, opened to traffic Friday. Delphi Mayor Randy Strasser says the roadway will benefit employers such as Indiana Packers Corp. by providing easy highway access. He says the construction of the corridor also resulted in millions of dollars in utility and infrastructure improvements for future development.

 

Conexus: Deal Includes 'Big Win' For Indiana

The vice president of the state's manufacturing and logistics initiative says the end of the partial government shutdown will result in a "huge economic development win" for Indiana. David Holt says the agreement to end the shutdown includes lifting caps on what can be set aside to fund repairs to the Ohio River's Olmsted Locks. He says if the locks break down Indiana companies would not have access to the Mississippi River and would need to spend more money for an alternate route. Holt believes not repairing the locks would be "devastating" for Indiana's logistics industry.

 

Manufacturing Survey Suggests 'Renaissance'

One of the authors of an annual manufacturing study says this year's results show "the bad old days of cost-cutting are behind us." Associate Professor at Indiana University's Kelley School of Business Mark Frohlich says companies are demonstrating a "strong emphasis" on investing for growth and are "betting" on their employees, processes and products. He says the seventh annual Indiana Manufacturing Survey also reveals continuing concerns about the skills gap and rising material costs.

 

Bob & Tom Changing Networks

The Indianapolis-based "Bob & Tom Show" is planning to move to a new radio syndication network after the end of the year. In a statement, Co-Host Tom Griswold says talks with Georgia-based Cumulus Media Networks made it clear that "our visions aligned for the future." The show has been carried by Premiere Radio Networks, which is owned by Texas-based Clear Channel Communications Inc. In March, Griswold and Bob Kevoian celebrated 30 years on the air. The "Bob & Tom Show" is carried by approximately 130 radio stations throughout the country and on the Armed Forces Radio Network.

 

Award-Winning Craft Beer Market Keeps Growing

Indiana craft brewers are bringing home hardware from this year's Great American Beer Festival. Sun King Brewing Co. and Ram Restaurant and Brewery in Indianapolis, as well as Muster-based Three Floyds Brewing Co. were named medal winners at the event last weekend in Denver. The continued success comes as the state's largest beer and wine supplier reports an increase in demand for craft beer. Monarch Beverage Co. in Indianapolis has created a special division to deal with the rapidly growing segment. Chief Executive Officer Phil Terry discussed the growth during a special edition of Inside INdiana Business Television focusing on the craft beer industry.

 

New Life For Kokomo Plant

A company that manufactures porcelain products is planning to invest nearly $15 million in Howard County. Plans call for Patriot Porcelain LLC to upgrade and equip the former Kokomo Sanitary Pottery Plant, where it will locate toilet manufacturing operations. The company intends to create up to 140 jobs by next year. Kokomo Mayor Greg Goodnight says the deal was nearly three years in the making. He believes it is "extremely important" to attract non-automotive jobs and diversify the economy.

 

For more Inside Indiana Business, visit www.insideindianabusiness.com

Copyright 2014 nwitimes.com. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

activate-button-3
Follow The Times

Featured Businesses

In This Issue

Professionals on the Move Banner
Get weekly ads via e-mail

Poll

Loading…

Should the Indiana attorney general's office compel all Lake County municipalities to merge E-911 dispatch services?

View Results