INSIDE INDIANA BUSINESS: New law opens crowdfunding doors

2014-03-31T13:44:00Z 2014-03-31T17:59:12Z INSIDE INDIANA BUSINESS: New law opens crowdfunding doorsGerry Dick Inside Indiana Business
March 31, 2014 1:44 pm  • 

The co-founder of Indianapolis-based Localstake says a new state law on crowdfunding will help entrepreneurs clear one of their biggest hurdles. Kevin Hitchen says the measure "enlarges the pool" of potential investors by eliminating a funding limit and allowing startups and small businesses to advertise they are raising capital. He says Localstake is already seeing a "very measurable" impact on the number and quality of companies signing up for its online crowdfunding platform.

State Settles With Stage Company

The Indiana Occupational Safety and Health Administration has announced details of a settlement with Greenfield-based Mid America Sound Corp. The company has agreed to pay $50,000 in penalties and has implemented additional employee training. The deal is a result of an IOSHA investigation into the 2011 State Fair stage collapse.

Coast Guard: 'No Visible Oil' Near Refinery

The U.S. Coast Guard says cleanup crews tending to a spill outside the BP refinery in Whiting have found "no visible oil" in Lake Michigan. The assessment team, made up of officials from the Coast Guard, U.S. Environmental Protection Agency and BP contractors, have been using more than three dozen underwater probes.

DePauw Announces Commencement Speaker

An actor who served as a White House official will deliver the commencement address at DePauw University. Kal Penn will be the featured speaker at the 175th annual event next month in Greencastle.

Food Companies Plan Expansions

Two companies are seeking tax abatement on expansion plans. The Indianapolis Metropolitan Development Commission is set for preliminary votes Wednesday on proposals from ConAgra Foods Inc.  and Carmel-based Heartland Food Products Group involving approximately 200 new jobs.

Court of Appeals Hears Former Regulator Case

The Indiana Court of Appeals will rule at a later date after hearing oral arguments today in a case involving a former state utility regulator. The Indiana Attorney General's Office wants misconduct charges reinstated against David Lott Hardy.

Mayor Announces 'Southside Gateway' Schedule

Muncie Mayor Dennis Tyler says a $2 million beautification project will get underway next week. The Star Press reports planning for the southside gateway has taken several years.

Rolls-Royce Lands Military Contract

Rolls-Royce in Indianapolis has been awarded a $50 million U.S. Marine Corps contract. The deal involves support services for refueling aircraft equipment.

Supreme Industries Closes on Sale

Goshen-based Supreme Industries Inc. has announced the closing of the sale of its shuttle bus business. Earlier this month, the company said in a notice to the state the move could affect more than 50 employees.

Lumina Hires Maryland Higher Ed Secretary

Maryland Secretary of Higher Education Danette Howard has accepted a job with Indianapolis-based Lumina Foundation. She will be the education organization's vice president for policy and mobilization.

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