The mayor of Muncie says her area is on the short list of communities for two projects involving Japanese companies. Sharon McSurley says the possibilities are a result of a recent marketing trip to the Asian nation by the Muncie-Delaware County officials. It's part of an "Asian Initiative" included in the Vision 2011 Economic Development Program jointly funded by the City of Muncie and Delaware County Commissioners.
Bosch purchases West Lafayette company
Stuttgart-Bosch is acquiring West Lafayette headquartered CST/berger, a division of The Stanley Works. The transaction is worth about $205 million. CST/berger manufactures laser and optical leveling, as well as alignment technologies for professional and do-it-yourself customers. The company employs approximately 350 associates in the U.S., Germany and Italy.
Sony expanding operations in Terre Haute
Japan-based Sony Corp. is expanding its Blu-ray Disc manufacturing operations in Terre Haute. The company is investing more than $113 million and adding 85 jobs to the facility. Sony DADC in Terre Haute currently employs approximately 1,180. The Indiana Economic Development Corp. offered Sony DADC up to $975,000 in performance-based tax credits and up to $655,000 in training grants. Indiana Secretary of Commerce Nate Feltman signed the deal during a meeting with Sony executives in Tokyo. Feltman is leading an Indiana trade mission in Japan.
Flooding damage estimate at $126M
A Ball State University report gives a preliminary damage estimate of $126 million from recent flooding in parts of Indiana. It estimates $45.8 million in damage to public infrastructure. Researchers Michael Hicks of Ball State and Mark Burton of the University of Tennessee say they concentrated on the White and Wabash rivers and other drainage areas. Hicks says the findings so far suggest 2008 is the second most expensive flood year in Indiana. Flooding in 2003 caused almost $270 million in damage.
Horizon looks to expand wind farm plan
Texas-based Horizon Wind Energy LLC is looking to increase the size of its proposed wind farm in White County, even before area leaders finalize a deal for the project. The company originally planned to lease 30,000 to 35,000 acres for the wind farm. Now it has the potential to expand to 100,000 acres. White County Economic Development Director Connie Neininger says several land owners are now asking if the company will put a wind turbine on their property.
Indiana airports awarded nearly $7M
The Federal Aviation Administration is providing more than $6.8 million to several Indiana airports. The funds will go to a variety of projects that will enhance the safety and capacity. Airports receiving grants include Anderson Municipal-Darlington Field, Daviess County, Goshen Municipal, Kokomo Municipal and Madison Municipal.
Nucor to acquire Auburn Steel distributor
Nucor Corp. says its subsidiary, Harris Steel Inc., has signed an agreement to acquire Ambassador Steel Corp. ("Ambassador"), based in Auburn, for approximately $185 million. The transaction also will include the shares of Ambassador's affiliate, Delta Erecting Inc. Ambassador is a fabricator and distributor of concrete reinforcing steel and related products.
