IIB WEEK IN REVIEW:

2014-03-07T13:40:00Z IIB WEEK IN REVIEW:Gerry Dick Inside Indiana Business nwitimes.com
March 07, 2014 1:40 pm  • 

Stonegate Continues to Grow

Plans by Stonegate Mortgage Corp. to expand its central Indiana headquarters mark another chapter in the company's impressive growth story. It intends to invest more than $6 million in this project and add 400 workers by 2017. An announcement in 2010 called for the creation of 300 jobs by 2015. Stonegate says it surpassed that total by the end of last year. The growth spurt is expected to continue. The company plans to expand services in 48 states over the next year.

Region Launches Unique STEM Initiative

An Indianapolis-based science, technology, engineering and mathematics education organization is expanding its footprint in the state. Project Lead The Way Inc. is working with the Corporate Partnership for Economic Growth on a first-of-its-kind, $4.4 million pilot program. The partnership will provide every school in a five-county northern Indiana region access to the education group's STEM curriculum. During an interview on Inside INdiana Business Television, Project Lead The Way Senior Vice President Rex Bolinger and CPEG Acting President Shawn Peterson discussed how he believes the effort can create a pipeline of workers for 21st century jobs.

Billionaire List Includes Hoosiers

A national publication's annual list of the world's billionaires again includes four from Indiana. Forbes says Cook Group Inc. Co-Founder Gayle Cook's net worth increased since last March. Herb Simon, Dean White and Jim Irsay all dropped in the global rankings.

INnovators Aim For Swimwear Dominance

A Fort Wayne mother and daughter hope to achieve "world domination in retro swimwear." Cheryl and Olivia Fabian founded OFabz Swimwear in 2010, which focuses on combining vintage designs with updated fabric and production techniques. The Fabians say winning a 2011 business plan competition through the Northeast Indiana Innovation Center and Ivy Tech Community College gave the company a "stamp of approval." The company was featured in this month's "INnovators With Dr. K" segment on Inside INdiana Business Television.

Elevate Ventures Continues Indiana Expansion

Elevate Ventures is once again planning to grow its footprint within the state. The startup funding group is looking to offer programming, consulting and funding opportunities for entrepreneurs in nine southern Indiana counties. The expansion still needs Indiana Economic Development Corp. approval. Regional Outreach Manager Oliver Barie says the organization will work with Jeffersonville-based Velocity Indiana.

AG Details Top Complaints

The Indiana Attorney General's office has unveiled its annual list of top consumer complaints. Greg Zoeller says more than 15,000 complaints were filed in 2013 and the fastest-growing categories include auto and retail sales.

State Responds to OSHA Report

The Indiana Department of Labor says it has already taken corrective action on most of the recommendations in an Occupational Safety and Health Administration report. Among the issues in the report were a backlog of nearly 100 unprocessed complaints and lack of training for investigative staff.

Hurco CFO Resigns

Indianapolis-based Hurco Companies Inc. Chief Financial Officer John Oblazney has resigned. Corporate Controller Sonja McClelland will fill the role on an interim basis.

Parkview Announces Leadership Changes

Fort Wayne-based Parkview Health has shuffled responsibilities of five executives. The moves include naming Rick Henvey chief operating officer and Sue Ehinger chief experience officer.

Fort Wayne to House F-16s, Maybe More

The commander of the 122nd Fighter Wing in Fort Wayne says a U.S. Air Force decision to replace the base's A-10 aircraft with F-16 fighters is "bittersweet," but could prove beneficial. Colonel David Augustine says the move puts the facility in a better position to attract the F-35 Joint Strike Fighter. He says bringing the next-generation aircraft to Fort Wayne would result in decades of flight missions for the base.

Indiana College Players on Football Hall Ballot

Several former college football standouts from six teams in Indiana are on this year's College Football Hall of Fame ballot. The Texas-based National Football Foundation will announce this year's inductees in May. The University of Notre Dame, Purdue University, Indiana University, Ball State University, University of Indianapolis and Valparaiso University are all represented.

Unique Teaching Hotel Secures State Funding

The ARC of Indiana has announced a training institute and teaching hotel in Muncie will be branded as a Courtyard by Marriott. The first-of-its-kind operation will give people with disabilities postsecondary education opportunities in the hospitality and food service industries. The project has secured a grant of up to $5 million through the Indiana Economic Development Corp. Ground is expected to be broken this spring at the site, which is located adjacent to the Horizon Convention Center, with the teaching hotel and training institute slated to open its doors in the summer of 2015.

Finalists Vying to Develop Illiana Expressway

The Indiana Department of Transportation says four developer teams are still in the running to design, build, finance and operate the state's section of the Illiana Corridor and I-65 expansion in Lake County. A final request for proposals is expected this summer and construction on the corridor could start in spring 2015.

Holiday World Planning Themed Upgrades

Holiday World & Splashin' Safari in Santa Claus has hired St. Louis-based PGAV Destinations to lead multiple projects this season. The park says the upgrades will include a safari-based restaurant and shop as well as new designs in its Christmas area.

AT&T Touts Major Investment

AT&T Indiana says it invested nearly $1.75 billion in Indiana network upgrades from 2011-2013. President Bill Soards says wireless infrastructure improvements include new cell sites, upgraded antennas and increased capacity. He says the company also expanded fiber-optic connections in hopes of growing its broadband footprint. In an interview to air this weekend on Inside INdiana Business Television, Soards also discusses where he believes technology is headed.

Biomet Planning IPO

The parent company of Warsaw-based Biomet Inc. is seeking approval for an initial public offering. In a filing with the U.S. Securities and Exchange Commission, LVB Acquisition Inc. says it plans to change its name to Biomet Group Inc. and use proceeds to pay down debt. If approved, the medical device company intends to use the symbol "BMET."

Production Finally Set For Tipton Plant

Production is expected to begin soon at a high-profile industrial building in Tipton County. Chrysler Group LLC is putting the finishing touches on a transmission plant that is expected to result in 875 new jobs over the next two years. The effort follows two failed attempts to launch manufacturing operations in the facility. Tipton Mayor Don Havens believes the city's location played a key role in attracting the automaker. He says the plant will allow the city to participate in the economic growth of the surrounding areas.

Rebranding Shines Light on Job Efforts

Noble of Indiana has unveiled a rebranding campaign focusing on its efforts to find meaningful work for people with disabilities. Chief Executive Officer Julia Huffman says the organization advocates for a largely "untapped work force" that tends to have a higher-than-average retention rate. Noble of Indiana currently supports about 800 people working in central Indiana.

South Bend Company Secures Funding

A South Bend-based software company has secured more than $1.3 million in financing. The funding for Vennli comes from several investment groups, including Elevate Ventures.

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

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