Johnson County commissioners have asked for a $22,531 reimbursement from the Indianapolis engineering and consulting firm RW Armstrong for unexpected additional work the county says it had to undertake on a road project. The commissioners blame Armstrong for leaving out drawings for a storm sewer and other work needed to upgrade the intersection of Stone’s […]
The Lafayette Redevelopment Commission approved providing $50,000 to the Caterpillar Large Engine Center to train 50 new workers, reports the Journal & Courier. The funds will come from the city’s tax increment financing and economic development income tax funds. Caterpillar employs nearly 1,800 at the site now; the additional 50 workers will fill production jobs […]
Toledo, Ohio-based Precision Cutoff LLC said today it will open a machine shop in Franklin and hire 47 workers by 2012. Precision plans to invest $2 million at an existing, 110,000-square-foot building in Hurricane Industrial Complex. The Indiana Economic Development Corp. offered $35,000 in tax credits and $29,500 in training grants. The city of Franklin […]
The federal government has rebuffed an attempt by Ball Memorial Hospital in Muncie to pay higher reimbursements for the Medicaid and Medicare patients it serves. Ball Memorial, which lost $7 million on the patients last year, is reimbursed 86 cents for every dollar of the costs. Many other hospitals in the state receive 96 cents, […]
Indianapolis-based Simon Property Group Inc. has access to $3.5 billion in credit as it anticipates snapping up shopping malls, according to Bloomberg. Chief Financial Officer Steve Sterrett told Bloomberg that the $1.5 billion of bond positions the company sold last week was used to pay down debt. The resulting improvement to Simon’s balance sheet positions […]
Lifeline Data Centers LLC said yesterday that its acquisition of Eastgate Consumer Mall has closed. The Indianapolis company announced in December that it would spend $23 million to transform the 370,000-square-foot mall at East Washington Street and Shadeland Avenue into a high-tech hub for hosting a data-storage operation. Common areas of the mall will not […]
Browning Investments, the Indianapolis developer that has built projects ranging from the NCAA headquarters to the downtown Marriott Hotel, is considering building a four-star hotel in downtown Evansville near the Aztar Casino and a possible new arena desired by some Evansville boosters. Browning said a new arena and other attractions would lure convention traffic, and […]
Steel Partners II said in a Securities and Exchange Commission filing yesterday that it is considering escalating its stake in Conseco Inc. from 10 percent to 22 percent. New York-based Steel Partners also said Conseco directors have been “slow” to implement a strategic review launched in March. “Return on equity of Conseco Insurance Group is […]
The governing body for Bloomington Hospital is scheduled to vote June 16 on a partnership between that hospital and Clarian Health Partners, according to The Times-Mail of Bedford. In November, Bloomington Hospital said it was considering the deal with Clarian. Such partnerships have become common nationally, as smaller hospitals seek to align themselves with larger […]
Purdue University might spend nearly $5 million this fiscal year on public relations, marketing and promotional activities, nearly double the $2.6 million the school budgeted in the 1997-’98 year, reports The Journal & Courier of Lafayette. The number of employees in Purdue’s promotion department grew 34 percent, to 67, at a time employment across the […]
A New Jersey company with 30 refrigerated warehouses in the country plans to build a unit in Lebanon Business Park. United States Cold Storage Inc. will spend $38 million on the 300,000-square-foot warehouse and distribution center, and hire 100 workers by 2012, according to the Indiana Economic Development Corp. The business park is owned by […]
Indianapolis developer Tim Shrout wants to open a business park in Shelbyville to attract suppliers to the new Honda Manufacturing of Indiana assembly plant in Greensburg. Shrout’s company, Cedar Run Investments LLC, is calling the 100-acre tract Pleasant View Commerce Park, according to The Shelbyville News. The location is 32 miles from the Honda plant. […]
Shares of Steak n Shake Co. tumbled this morning after the Indianapolis company reported late yesterday that same-store sales in its fiscal second quarter declined 6.3 percent. The stock fell 10.6 percent, to $6.81 per share. It was the 11th consecutive quarter in which the diner chain reported falling same-store sales. The company blamed the […]
A call center operator announced today that it will add a location in Terre Haute and hire 600 workers before 2009. Alorica Inc., headquartered in Chino, Calif., will occupy 50,000 square feet in Plaza North Shopping Center, 1800 Fort Harrison Road, on Terre Haute’s north side, according to the Indiana Economic Development Corp. The space […]
Natural gas prices will increase as much as 30 percent next winter over past winter, according to the Evansville Courier & Press, citing Vectren Corp. CEO Niel Ellerbrook. Prices are rising because customers want an alternative to utilities that use coal, which causes more pollution, Ellerbrook told investors at an annual meeting. Ten years ago, […]
United Way of the Wabash Valley will lose its largest contributor when Pfizer Inc. shuts down its Terre Haute operation next year, reports The Tribune-Star. When that happens, the remaining 140 workers will be out of a job. Pfizer gave $360,000 to the United Way fund in last year’s drive, nearly 20 percent of its […]
The Shelbyville Redevelopment Commission has approved creating a tax increment financing district near the Indiana Downs racino, according to The Shelbyville News. About 80 residents showed up at a Monday night vote to voice opposition to the district, which would use taxes collected in the area to fund infrastructure improvements rather than going toward schools, […]
Noble Roman’s Inc. reported $321,431 in net profit in the first quarter, less than half the $703,003 it earned a year earlier. The Indianapolis restaurant chain said the decline was caused by slowing growth in co-brand franchises. Under an initiative announced in November, Noble Roman’s is screening potential franchisees more carefully, training new franchisees longer, […]
Just Marketing International plans to spend more than $3 million to expand its Zionsville headquarters. The motorsports marketing company said the expansion will create 47 jobs that pay up to $28 an hour. Just Marketing employs 90. The company will receive up to $350,000 in tax credits and training grants, as well as a possible […]
The Indianapolis Convention & Visitors Association and the Indianapolis Cultural Development Commission have launched an in-state ad campaign promoting local tourism. The campaign, which will also run in Chicago, Cincinnati and St. Louis, uses high gas prices to entice residents to be a tourist close to home. The 2008 campaign spots will be shown 10,000 […]
