The Indianapolis Airport Authority is reporting record passenger volume in 2016. In its most recent service update, the authority also made the case for the need for a Trans-Atlantic air carrier and outlined what it is doing to address that need. Part of the increase is due to increased destination options. The airport is reporting a 23 percent increase in nonstop destinations since 2014. The IAA says the airport added 12 percent capacity over 2015 and reported low cost carriers added 23 percent capacity over 2015.
Hoosiers Have Chance to Move up Volunteer Ladder New statistics from the Corporation for National and Community Service show volunteer services contributed by Hoosiers in 2015 valued at $3.1 billion. Indiana ranks 25th in the United States in terms of volunteer participation, which Serve Indiana State Service Director Marc McAleavey says gives Indiana room to “move up the ladder.” Indianapolis ranked 10th among the country’s largest metropolitan areas for its rate of volunteerism.
Hoosier Schools Among ‘Best Business Schools’
Business schools at three Hoosier universities are ranked among the top U.S. MBA programs by Bloomberg BusinessWeek. The schools are ranked based on surveys of employers, alumni and current students. The University of Notre Dame’s Mendoza College of Business ranked the highest among Indiana institutions at number 25, followed closely by the Indiana University Kelley School of Business at 26. The Purdue University Krannert School of Management had the highest gain from last year of the three Hoosier schools, jumping 11 spots to number 42.
Unemployment Dips in October
Indiana’s unemployment rate dropped to 4.4 percent in October, compared to 4.5 percent the previous month. The U.S. Bureau of Labor Statistics says Indiana’s total labor force decreased by more than 16,000 last month and currently stands at more than 3.3 million.
Westfield Mayor Pitches Potential Center, Hotel
Westfield Mayor Andy Cook used his State of the City Address to unveil a major development proposal that could include a civic center, 500-room hotel and possibly a YMCA. EdgeRock Development LLC, a Westfield-based company, would build the ambitious Grand Millennium Center project on city-owned land. Cook says construction could begin “pretty quickly” and take 3-4 years to complete.
Northeast Indiana Touts Income Growth
The Northeast Indiana Regional Partnership says data from the U.S. Bureau of Economic Analysis shows the 11-county region is outpacing the nation in per capita person income growth for the sixth consecutive year. Northeast Indiana’s income growth increased 4.3 percent in 2015, compared to the national rate of 3.7 percent.
Notre Dame Partnering With Afghan University
The University of Notre Dame is partnering with Balkh University in Afghanistan to develop a master’s program in finance and accountancy for Balkh students. The partnership is the result of a $1.15 million contract funded by the U.S. Agency for International Development.
Indiana Main Street Adds Winamac
The Indiana Office of Community and Rural Affairs has added the town of Winamac to the Indiana Main Street Program. The town becomes the second from Pulaski County to join the program in less than a week, following the addition of Francesville on Monday.
Hogsett: Rexnord ‘Unwilling’ to Reconsider Mexico Move
Indianapolis Mayor Joe Hogsett and U.S. Senator Joe Donnelly (D-IN) say the chief executive officer of Wisconsin-based Rexnord Corp. (NYSE: RXN) is unwilling to reconsider moving the company’s Indianapolis operations to Mexico. Hogsett says he emphasized to Todd Adams the city’s intention to claw back local tax incentives.
Deal to Take Accuride Private Wraps Up
The $477 million acquisition of Evansville-based Accuride Corp. (NYSE: ACW) is complete. As a result of the deal with New York-based private equity firm Crestview Partners, Accuride will drop off the New York Stock Exchange before trading begins Monday.
Putnam County Gets in on Cultural Trail
A self-guided tour of shopping, dining and arts destinations throughout parts of central Indiana has expanded. The Rural Routes to Main Street Cultural Trail now includes Putnam County along with current participants Morgan and Hendricks counties.
Logansport Company Planning Expansion
Logansport-based manufacturer Small Parts Inc. has unveiled plans for a major expansion. The company will invest $7.2 million to purchase new manufacturing equipment and add 40 jobs at its Cass County plant.
Ballard, Richard Push Advanced Energy Benefits
Former mayors of the state’s two largest cities will lead the Indiana efforts for a national business group focused on non-traditional energy industries. Former Fort Wayne Mayor Graham Richard is chief executive officer of the national Advanced Energy Economy organization, while former Indianapolis Mayor Greg Ballard will serve as senior fellow for Indiana Advanced Energy Economy. A new study published by Indiana AEE says 48,000 jobs in the state are tied to advanced energy businesses.
Hoosier Tech Companies Make ‘Fast 500’ List
Three central Indiana tech companies have been included on Deloitte’s Technology Fast 500 list, which ranks the 500 fastest-growing technology, media, telecommunications, life sciences and energy tech companies. Each company was ranked based on fiscal year revenue growth from 2012 to 2015. Fishers-based CloudOne ranked the highest among Hoosier companies at 190. Indianapolis-based T2 Systems Inc. is ranked at number 400, followed by Angie’s List Inc. (Nasdaq: ANGI), also based in Indy, at 499. The rankings come more than one month after T2 announced it was being acquired by a California-based private equity firm.
State to Dedicate New Historical Marker
The Indiana Historical Bureau held a public dedication ceremony Friday afternoon near Madison for a new state historical marker. The marker will commemorate Chapman Harris, an Underground Railroad operative who helped escaped slaves crossing the Ohio River.
Haynes International Profit Drops
Kokomo-based Haynes International Inc. (Nasdaq: HAYN) is reporting fiscal year 2016 net income of $5 million, down from $30.5 million last year. The high-performance alloy manufacturer says, despite the full-year drop, the company saw stable or improved fourth quarter revenue in several markets, including aerospace and chemical processing.
Machining Company Expanding in Columbia City
Columbia City-based AJ Machine Inc. has announced plans to expand operations. The company will invest $1 million to build a new facility in the Whitley County city and add more than a dozen jobs over the next five years.
Officials Cut Ribbon on Adult High School
Officials from Goodwill Industries of Central Indiana and the city of Shelbyville cut the ribbon Wednesday on The Excel Center. The facility, which opened in August, provides opportunities for adults to earn a high school diploma tuition-free.
Options Open For Finish Line’s JackRabbit Brand
Indianapolis-based The Finish Line Inc. (Nasdaq: FINL) is considering options for its JackRabbit specialty running shoe chain, including a potential sale. The athletic shoe and apparel retailer says focusing on the Finish Line brand and simplifying the business will be better long-term.
The Mind Trust Targets $32M Goal
The Mind Trust has launched a $32 million capital campaign designed to increase the number of Indianapolis Public Schools students receiving a high-quality education. The nonprofit’s Grow Great Schools effort is designed to improve the educational situation for 7,500 students within IPS boundaries by 2019.