IIB WEEK IN REVIEW:

2013-09-07T12:52:00Z IIB WEEK IN REVIEW:Gerry Dick Inside Indiana Business nwitimes.com
September 07, 2013 12:52 pm  • 

Two Companies Plan Cuts

Two out-of-state businesses have notified the Indiana Department of Workforce Development they intend to close Hoosier facilities, which could leave hundreds without jobs. Texas-based Capital Senior Living ILM-B Inc. is planning to shut down a Merrillville skilled nursing center in November and Virginia-based Strategic Resources Inc. says its operations at Camp Atterbury in Edinburgh could cease at the end of the month. The health services company says the move could affect more than 120 employees, while Strategic Resources tells the state it plans to part with 200 workers.

 

Third Piece of Milton-Madison Bridge Comes Down

The northernmost section of the old Milton-Madison bridge has been blasted into the Ohio River. Indiana and Kentucky crews are slated to demolish the final 600-foot span later this month.

 

New Flight is 'Amazing Test' For Community

The air service director for Indianapolis International Airport says public and corporate support for new nonstop service to San Francisco will determine whether more routes or destinations will be added. Chris Matney says travelers need to "use it, or we may lose it." The Indianapolis tech sector has pushed for the direct service for years.

 

IU Reveals 2013 Hall of Fame Inductees

The Indiana University Athletics Hall of Fame has announced its class of 2013. They are Larry Barbiere, W.M. Lowe Bryan, Bob Fitch, Mike Goodrich, Brian Maisonneuve, Amy McGrath and Todd Yeagley. This year's honorees will be inducted next month and bring the number of Hall of Fame members to more than 200.

 

Pharma Company's Assets to Be Auctioned

The assets of a Greenwood-based biopharmaceutical company that had plans to develop and manufacture synthetic insulin are set for the auction block. Key Auctioneers Inc. in Indianapolis is handling the sale of Elona Biotechnologies Inc.'s recently-built $6.5 million facility, intellectual property its key patent. The city of Greenwood is attempting to recover more than $9.5 million in loans and incentives through foreclosure proceedings.

 

Governor Leads Delegation to Japan

A group of state and city leaders are in Japan for a nine-day trade mission. The delegation, which includes Governor Mike Pence and Secretary of Commerce Victor Smith, is slated to meet with executives from companies, including Subaru, Toyota and Honda. The Indiana Economic Development Corp. says it has secured deals with more than 80 Japan-based companies since 2005.

 

Findlay to become Lake City Bank CEO

The parent company of Lake City Bank has announced a pending leadership change. David Findlay will become chief executive officer of the bank and Warsaw-based Lakeland Financial Corp.  next year. Current CEO Michael Kubacki will remain chairman of both organizations.

 

New Jersey Company Moving to Indiana

New Jersey-based Nextremity Solutions Inc. is in the process of moving its headquarters to Warsaw. The Kosciusko Economic Development Corp. says the orthopedic company will begin with 15 corporate employees at the new location.

 

Philanthropy School Announces Medal Winners

The Indiana University Lilly Family School of Philanthropy has named Dwight Burlingame, Kay Sprinkel Grace and Raymond Handlan recipients of this year's Rosso Medal. It is considered the school's highest honor and is a lifetime achievement award for ethical fundraising.

 

Monon Bell to be in National Spotlight Again

One of the country's most storied football rivalry games will be televised nationally. The 120th Monon Bell Classic between DePauw University and Wabash College is scheduled to air live in November on Mark Cuban's AXS TV.

 

Agreement Extends Healthy Indiana Plan

The state has secured a waiver with the federal government to continue the Healthy Indiana Plan through the end of 2014. Governor Mike Pence says HIP will retain health savings accounts and additional tools have been provided to allow the state to manage enrollment.

 

Jobs, Consumer Demand Spark Optimism

An Indiana University Southeast economist says an improving national economy is leading to "very positive" projections for the state. Executive Vice Chancellor For Academic Affairs Uric Dufrene is delivering his annual Labor Day Economic Outlook this afternoon. He says improving job growth and pent-up demand for homes and automobiles have him feeling "the most optimistic" since he began the presentations in 2006. Dufrene says manufacturing still drives a large portion of Indiana's economy.

 

Holiday World Announces New Ride

Holiday World & Splashin' Safari is planning $8 million in improvements for next year. That includes a new ride called the Mayflower, which takes people 54-feet over a pool of water. The tourist attraction in Santa Claus is also planning a new restaurant and parking lot improvements for 2014.

 

AM General Deal Could Mean Hundreds of Jobs

South Bend-based AM General LLC believes a deal to acquire Vehicle Production Group's assets will result in hundreds of jobs. The agreement involves the Indiana manufacturer buying the Michigan company's nearly $50 million U.S. Department of Energy loan and once again making a wheelchair-accessible vehicle in Mishawaka. Production of the MV-1 is expected to resume in approximately 45 days.

 

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

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