Purdue University is taking a significant step to deal with the issue of college affordability. The university will freeze tuition and most fees for the next two years on the West Lafayette campus. Purdue President Mitch Daniels says it's time to "hit the pause button on tuition increases." He is calling on every college and administrative unit to make affordability and value the university's top priorities. Daniels says a framework and the first actions toward achieving those goals will be announced in the next few weeks.
Chrysler Confirms Plans to Add 1,250 Jobs
Chrysler Group LLC says a nearly $375 million investment will make north central Indiana the world's largest transmission center. During a visit to the Kokomo operations Thursday, Chief Executive Officer Sergio Marchionne confirmed plans to employ up to 850 at a new operation in Tipton County and add another 400 at the Kokomo casting and transmission facilities.
Indiana Braces For Sequester Impact
Indiana communities are preparing themselves for widespread federally-mandated cuts that have kicked in. A recent White House report suggests the effects on Indiana could include approximately 11,000 defense employees being furloughed and the loss of $14 million in school funding this year. The Federal Aviation Administration has detailed nearly $600 million in possible nationwide reductions, including employee furloughs, ending overnight shifts at a pair of Hoosier airports and potentially closing six air traffic control facilities in the state. Despite the cuts, Governor Mike Pence told Inside INdiana Business the state's fiscal strength puts it in a "better position to withstand" sequestration.
County Looks to Spark Young Entrepreneurs
The Daviess County Economic Development Corp. is looking to cultivate the next generation of business leaders through a new high school effort. The Creating Entrepreneurial Opportunities program pairs students with mentors to help them develop business plans. Board Chair Marilyn McCullough says the goal is to encourage future entrepreneurs to establish their businesses in the Daviess County area. McCullough says similar programs elsewhere have produced promising results.
High-Profile Event to Focus on Young Professionals
Indianapolis will be the site of a huge event this summer expected to draw national philanthropic and business leaders, celebrities and recognized thought leaders. Inside INdiana Business has learned MCON13 is being billed as the nation's largest Millennial engagement conference and will focus on strategies for corporations and nonprofits to attract young professionals. Indianapolis-based Achieve, the Case Foundation and the Buckingham Foundation will host the event. Achieve Chief Executive Officer Derrick Feldmann tells Inside INdiana Business reaching out to Millennials pays long-term dividends for businesses and organizations.
Chamber Reveals 'Best Places' List
The Indiana Chamber of Commerce has released its 2013 "Best Places to Work in Indiana" list. The organization says this year's class includes a record 100 companies. Honorees were determined through employee surveys and employer reports and separated into four categories based on the size of the business. Company rankings will be unveiled at an awards dinner in May at the JW Marriott in Indianapolis.
Economic Development Leaders Map Out Goals
Indiana's new secretary of commerce is in Turkey this week for a trade mission. Victor Smith is part of a new structure for the state's economic development efforts along with Indiana Economic Development Corp. Chief Executive Officer Eric Doden. Those roles had been handled by one person in the past. In their first television interview, Doden and Smith tell Inside INdiana Business the new approach is more of a partnership than a splitting of duties.
Silicon Valley Firm Boosts Indiana Company
Indiana's growing tech sector has received more national attention. Indianapolis-based TinderBox says it is the first company outside of Silicon Valley to receive funding from online venture capital firm FundersClub. The money is part of a $1.3 million round of funding.
Marion Approves Bonds For Big Bakery Proposal
The Marion Common Council has approved economic development bonds to help land a deal that could create hundreds of jobs. The Grant County Economic Growth Council says construction on the $48 million plan from Arizona-based Café Valley Inc. could begin this spring. The organization says the plan could create 500 jobs.
Restaurant Chain Details Expansion
An Indianapolis-based Cajun restaurant chain is growing. Yats Inc., which has five Marion and Hamilton County locations, expects to open two more in Indianapolis within the next two weeks and its first in Columbus could open as early as June. Chief Executive Officer Gina Vuskovich tells Inside INdiana Business at least two additional company-owned stores and four more franchises could be on the horizon by year's end.
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