INSIDE INDIANA BUSINESS: Horizon wraps up merger

2014-04-04T15:02:00Z 2014-04-04T19:18:16Z INSIDE INDIANA BUSINESS: Horizon wraps up mergerGerry Dick Inside Indiana Business
April 04, 2014 3:02 pm  • 

Michigan City-based Horizon Bancorp has completed its acquisition of SCB Bancorp Inc. in Michigan. Last month, Horizon announced the closing of a deal for Indianapolis-based 1st Mortgage of Indiana.

March State Revenues Top Target

The Indiana State Budget Agency says March revenues were $14.5 million above the latest forecast. The state says revenues for the first nine months of Fiscal Year 2014 are $75 million below target but remain above collections, compared to the same period the previous year.

CIRTA Director Resigns

Central Indiana Regional Transportation Authority Executive Director Jeff Jackson has resigned for personal reasons. The organization says its board of directors will meet to discuss the next steps.

Universities on Best Business Schools List

A national publication has included four universities in the state on its annual "Best Undergraduate Business Schools" list. The University of Notre Dame was once again ranked at the top by Bloomberg Businessweek.

Plans For Elkhart Baseball Team Stall

The founder of a proposed minor league baseball team in northern Indiana says it won't begin playing this summer as previously announced. Construction has not begun at the Elkhart County Miracle stadium site and Craig Wallin tells The Elkhart Truth "we'll just shoot for 2015."

Can Bicycles Help Attract Talent?

Another step has been taken to help make downtown Indianapolis more attractive for professionals. The Pacers Bikeshare initiative will include more than two dozen stations along the city's cultural trail, which organizers say could be a key asset in helping area businesses draw top talent. The program is receiving support through contributions from the Herbert Simon Family Foundation. The bikes will feature the Indiana Pacers' team colors. Indianapolis Cultural Trail Inc. Executive Director Kären Haley discusses the effort with Barb Lewis in the Business of Health.

Manufacturer Details Consolidation

An Elkhart-based manufacturer is planning to combine several operations into two Elkhart County facilities. Lippert Components Inc. has entered into a long-term lease agreement for an abandoned distribution center in Elkhart, which is expected to house 180 new employees. It will consolidate three operations and approximately 600 workers into a Goshen building, which is undergoing "extensive remodeling."

Survey Assesses Small Business Job Picture

A bi-annual survey suggests only one-in-10 small businesses in the state is planning to add full-time workers in the next few months. The PNC Survey for spring 2014 comes amid today's release of the national job numbers, which shows the unemployment rate is holding steady at 6.7 percent. Ball State University Economist Mike Hicks says the numbers indicate employment growth has been "agonizingly slow."

Vectren Shuffling Executives

Evansville-based Vectren Corp. has announced some leadership changes. The moves involve two executive vice presidents who also serve as chief financial officer of the utility and president of Vectren Utility Holdings Inc.

Purdue Names CFO

Purdue University has named Bill Sullivan chief financial officer and treasurer. He most recently held a similar position with San Francisco-based industrial real estate developer Prologis Inc. He replaces Al Diaz, who will become the top financial officer at Marymount University in Virginia.

IU Starts Construction Website

Indiana University has launched a website to allow the public to monitor building and renovation projects. provides information for initiatives on all campuses. President Michael McRobbie says projects over the last seven years have totaled more than $1.5 billion.

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