The Chrysler Group confirms news that Inside INdiana Business broke on Wednesday that Tipton County will be the site of a new joint venture transmission plant and nearly 1,200 jobs. The advisory says the announcement regarding the Chrysler-Getrag joint venture plant will be made Monday at the Tipton County Courthouse. Gov. Mitch Daniels, company executives and union leadership are scheduled to attend the event.

Earnings in Indiana

up by 19 percent

A new report from the Indiana Business Research Center at Indiana University's Kelley School of Business shows average earnings per Hoosier rose by 19 percent in the first half of the decade. Nationally, average earnings grew by 17.5 percent. However, job growth in Indiana was only up by 0.2 percent during the period.

Simon getting

into baseball

Simon Property Group Co-Chairman Herb Simon is part of an investment group that is purchasing the AAA affiliate of the Arizona Diamondbacks. Inside Arizona Business confirms that the Tucson Sidewinders are being acquired for $13.5 million by an investment group led by New York real estate and restaurant executives Jerry and Stuart Katzoff and Simon, co-owner of the Indiana Pacers.

Ground broken for

new Lafayette hospital

St. Elizabeth Regional Health in Lafayette has broken ground on St. Elizabeth East, a new hospital that is scheduled to open in 2009. The 410,000-square-foot facility will include 150 private rooms, a women's center and the St. Elizabeth Heart Center. St. Elizabeth is a member of the Sisters of St. Francis Health Services Inc. system.

Indiana companies see

rising health premiums

An annual survey of Indiana companies shows 66 percent report an increase in health insurance premiums in 2007. The Compensation 2007 -- Indiana Report surveyed 450 employers. The average increase in premiums for 2007 was 11.8 percent for all plan types. Last year's survey reported that 72.5 percent of employers had an increase in premiums, with the average increase at 12.8 percent.

Edy's to expand

in Fort Wayne

Edy's Grand Ice Cream has announced a $29.5 million expansion project at its facility in Fort Wayne that is expected to create 65 jobs. The company plans to add 30,000 square feet to its Fort Wayne Operations Center to accommodate a new production line. Construction is scheduled to begin this month and be completed by July 2008.

Countrymark Cooperative

to expand refinery

Indianapolis-based Countrymark Cooperative LLP says it will invest $20 million to upgrade and expand its refinery in Mount Vernon. The company says the project will help boost refining capacity by 12 percent, or 45 million gallons per year. Countrymark says the expansion will make much needed gas and diesel products available to Hoosiers. The project is expected to be completed in 2008.

Lilly announces plans

for TB consortium

Eli Lilly and Co. has announced the creation of a public-private partnership to conduct early-phase discovery research of drugs to help treat tuberculosis). The consortium will be a nonprofit entity that will be based in Seattle. Lilly is investing $15 million in the project in the next five years. The company says it will open its library of more than 500,000 medicinal compounds to researchers for testing for possible TB treatments.

Steel Dynamics

has new acquisition

Fort Wayne-based Steel Dynamics Inc. says it plans to acquire a Pennsylvania-based company. Steel Dynamics will purchase The Techs for $360 million in a deal expected to close on or about July 2. The Techs consists of GalvTech, MetalTech and NexTech. Each of the three facilities specializes in galvanizing of specific types of flat-rolled steels. The acquisition is expected to double Steel Dynamics' hot-dip galvanizing capacity.

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