INSIDE INDIANA BUSINESS: Mainstreet unveils major growth plans

2014-02-07T12:44:00Z 2014-02-07T17:59:08Z INSIDE INDIANA BUSINESS: Mainstreet unveils major growth plansGerry Dick Inside Indiana Business nwitimes.com
February 07, 2014 12:44 pm  • 

Carmel-based Mainstreet Property Group LLC has outlined an ambitious three-year growth plan. The company believes the projects will result in 3,000 permanent jobs and an economic impact in Indiana of about $3 billion. Mainstreet plans new rehabilitation and therapy centers this year in Terre Haute, South Bend, Kokomo, Lafayette and Indianapolis.

State Revenues Miss Target

The Indiana State Budget Agency says January revenue came in $38.3 million below the latest forecast. The state says revenue for the first seven months of Fiscal Year 2014 is $35.5 million below target and $65.9 million behind the previous year's pace.

Hicks: Jobs Report Not Strong

A Ball State University economist believes today's national jobs report sends a mixed message. Michael Hicks says it is not a strong report, "but neither is it alarming." The federal government says growth in January was 113,000 jobs, which is far short of economists expectations' of 178,000 positions.

School to Hold Underwater Robotics Contest

The University of Southern Indiana is partnering with the Naval Surface Warfare Center in Crane to host an underwater robotics competition. The school says more than 500 students will take part in this weekend's event.

Old National, Tower Deal Gains Key Approval

Shareholders of Fort Wayne-based Tower Financial Corp. have approved a merger with Evansville-based Old Bancorp. The acquisition by Old National is believed to a nearly $108 million deal. The Journal Gazette in Fort Wayne reports Tower has more than $680 million in assets and seven branches.

Chamber Assesses Midpoint of Legislation Session

The Indiana Chamber of Commerce believes bills advancing at the Statehouse are in line with its long-range economic development plan. Chief Executive Officer Kevin Brinegar says the chamber is "cautiously optimistic" about the attention lawmakers are giving to several key elements of the Indiana Vision 2025 initiative.

Biomet Announces Major Settlement

Warsaw-based Biomet Inc. says it is "pleased" to have reached a settlement over a lawsuit involving hip replacement products. In a document filed with the U.S. Securities and Exchange Commission, the company says total payments could exceed $50 million.

Entrepreneurship Event to Fire up at Purdue

An eight-week student startup competition will begin this month at Purdue University. The Boiler: Purdue Mini-Accelerator Competition will end with a pitch event in April that could earn teams investment and prize money.

Teams Prep For I-69 Innovation Challenge

An annual competition challenging college students to create a for-profit business solution to one of the state's economic problems is set for next week. The I-69 Collegiate Innovation Challenge, which will take place in Plymouth, will feature students from four Indiana colleges.

Eli Lilly Remembers Kathy Taurel

Services are set for this weekend in Miami for the wife of a former Eli Lilly and Co. chief executive officer. Kathy Taurel was involved in many charitable organizations including the International School of Indiana and the Indianapolis Symphony Orchestra. Lilly has issued a statement describing her as "a gracious and welcoming presence" at many events.

Homework Hotline Hits Milestone

The Homework Hotline at Rose-Hulman Institute of Technology has passed the 500,000 tutoring session mark. The program launched in 1991 and helps students throughout the state with science and math homework through calls, online chats and email sessions.

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

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