As gas prices in parts of Indiana hover around $1.80 a gallon, a Purdue University agricultural economist says those costs probably won't continue. Wally Tyner says an increase in inventories does not account for the huge plunge in the price of gasoline over the past few days. He says usually when crude oil is around $65 dollars a barrel, gas is roughly $2.60 a gallon. Tyner adds gas prices will not stay so low, unless there is a further drop in the cost of oil.
Indiana beats out several states for latest jobs win
The Hoosier State has again proven to be more attractive than other areas when it comes to landing a company looking to expand and create hundreds of jobs. Wisconsin-based TriEnda LLC says it decided to place its new facility in Marion after considering opportunities from Nevada, Iowa, Ohio and Illinois. Vice President of Human Resources Herschel Scott describes Indiana's professionalism and opportunities as "sterling." The plastics packaging producer plans to create more than 340 jobs in Marion by 2012.
Atlas Energy plans to drill in southern Indiana
Atlas Energy Resources LLC (NYSE: ATN) has acquired nearly 115,000 acres and reached a farmout agreement for another 78,000 in southwestern Indiana's New Albany Shale. The company plans to begin drilling oil on the land this year and have more than 100 horizontal wells by the end of 2009. The land is in an area of the state where several operators have already drilled more than 40 successful wells.
Angie's List adding 400 jobs, pumping millions into redevelopment
Angie's List is making a multi-million dollar commitment to redevelop an Indianapolis neighborhood and adding 400 jobs to its national headquarters. Chief Executive Officer Bill Osterle says it may be the most significant announcement in the company's history. He says the investment to focus on an area just east of downtown could be as much as $8 million. Osterle is also predicting a renaissance for the area, which is part of the city's Holy Cross Neighborhood and centers around Whiskey Hill, one of the highest points in Indianapolis.
IU and Purdue form energy research consortium
Purdue and Indiana universities are again joining forces to create the Indiana Consortium for Research in Energy Systems and Policy. Its aim is to advance interdisciplinary research related to energy systems and environmental and energy policy issues. Members of the consortium include IU Bloomington, Purdue University in West Lafayette and Indiana University-Purdue University Indianapolis. A conference to launch the consortium is set for Friday in Indianapolis.
LIN TV and Time Warner settle dispute
LIN TV Corp. (NYSE: TVL) and Time Warner Cable (NYSE: TWC) have reached a retransmission deal. LIN TV President and Chief Executive Officer Vincent Sadusky says both sides have struck a "mutually acceptable economic agreement." LIN-owned stations such as WISH-TV in Indianapolis and WTHI in Terre Haute have been off Time Warner and Bright House Networks for several weeks. Inside INdiana Business Television is broadcast on WISH-TV and WTHI.
Newspaper announces layoffs
Another round of job cuts is about to hit the state's largest newspaper. The Indianapolis Star says it plans to lay off up to 95 workers by the first week of December. The reductions are part of plans by parent company Gannett Co. Inc. to cut its workforce by about 10 percent. The publisher also operates the Journal and Courier in Lafayette, Richmond Palladium-Item and the Muncie Star-Press.
Alorica bringing 150 more jobs to Terre Haute
California-based Alorica Inc plans to add 150 jobs to its customer service center in Terre Haute. The company says it has hired more than 450 employees this year and now needs more personnel. Alorica's Indiana location opened in June.
