INSIDE INDIANA BUSINESS: BSU economist 'not optimistic' on jobs report

2013-05-03T11:54:00Z 2013-05-03T17:16:48Z INSIDE INDIANA BUSINESS: BSU economist 'not optimistic' on jobs reportGerry Dick Inside Indiana Business nwitimes.com
May 03, 2013 11:54 am  • 

A Ball State University economist says "the deeper you dig the worse the news is" regarding the latest national employment report. Michael Hicks, director of the Center for Business and Economic Research, says the April figures from the U.S. Bureau of Labor Statistics show part-time jobs are replacing full-time positions. The monthly unemployment rate was essentially flat at 7.5 percent. Hicks says the part-time trend will be a "continuing hallmark of the economy" until employers can fully understand the effects of the Affordable Care Act.

 

Upbeat About Pipeline, Europe

The chief executive officer of West Lafayette-based Endocyte Inc. says the company has started establishing a strong commercial presence in Europe in advance of an expected key EU approval at the end of the year. Ron Ellis is also highlighting progress in the pipeline of potential treatments and imaging agents to battle cancer and other diseases.

 

Notre Dame Mulls Stadium Area Use

The University of Notre Dame is considering a new campus planning approach that would turn its famed football stadium into a hub for several additional facilities. Possibilities include more classroom and media space built onto the venue's exterior, as well as more premium seating and facade improvements.

 

Madison Regatta Lines up Title Sponsor

Organizers of the Madison Regatta have secured a title sponsorship deal with Lucas Oil Corp. The July event on the Ohio River is expected to attract around 50,000 race fans. The week-long series of events will also include a parade with former Cincinnati Bengals running back Elbert "Ickey" Woods as the grand marshal.

 

Indiana Company Upgrades European Plant

An Indianapolis-based company says a European facility is ready to produce Niacin for pharmaceutical use. Vertellus Specialties Inc. says upgrades have been completed to its plant in Antwerp, Belgium. The operation has been producing another form of Niacin for nearly three decades for human food and agricultural applications.

 

Ivy Tech, St. Vincent Partner on Training Center

Ivy Tech Community College and St. Vincent Health Ministries have partnered on a new clinical education center in Anderson. It includes eight simulation laboratories to provide students with hands-on training in areas including operating rooms and emergency facilities.

 

Proposed Equine Center Sees Renewed Interest

A long-delayed proposal for a Purdue University horse clinic in Shelbyville could be regaining momentum. College of Veterinary Medicine Dean Willie Reed says regional economic growth has led to "fresh and considerable interest" in the potential $12 million project.

 

National Firm Acquires Clinton County Business

Kirkland-based Nonprofit Financial Solutions has been acquired by national public accounting and consulting firm CliftonLarsonAllen. The Indiana employees at the small operation will join the larger firm.

 

Company Buys Indiana-Based Division

An Iowa trucking company has purchased a Fort Wayne-based portion of Allied Van Lines Inc. The acquisition by CRST International Inc. involves the special products division, which specializes in transporting high value items.

 

Community Projects Receive Planning Grants

Several Hoosier communities have landed Community Development Block Grants from the Indiana Office of Community and Rural Affairs. The projects include economic development, infrastructure improvement and library feasibility initiatives.

 

Hillenbrand Profit Drops

Batesville-based Hillenbrand Inc. is reporting second quarter net income of $12.7 million, compared to $27.4 million during the same period a year earlier. The company says despite some decreased demand, overall revenue grew more than 50 percent thanks to the performance of recently-acquired Germany-based Coperion.

 

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

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