Jobless rate falls to 9 percent despite weak job growth
The economy generated only 36,000 net new jobs in January, the fewest in four months, but the unemployment rate fell because many of those out of work gave up on their job searches.
Economic Development
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Endocyte plans to raise about $78 million in IPO
The West Lafayette company does not yet market a product and has not yet reported a profit.
Aerospace firm plans to add 159 engineering jobs
Aero Engine Controls plans to invest as much as $8.5 million to expand its operations near Indianapolis International Airport, adding up to 159 jobs over the next two years.
Illinois governor responds as states try to poach jobs
Gov. Pat Quinn has a message for New Jersey Gov. Chris Christie and officials from other states trying to lure jobs from Illinois: Back off.
State’s unemployment rate declines to 9.5 percent
The decline marks the third straight month that Indiana’s unemployment rate has fallen, but private-sector jobs actually dropped in December.
Michigan City snack-food baker adding up to 100 jobs
Hearthside Food Solutions says it will invest $3.8 million to expand its operations and hire new workers. The company bakes snack foods for such brands as Keebler, Nabisco and Kraft.
Indiana companies prepping for burst of acquisitions
Conditions are ripe for a barrage of mergers and acquisitions to take place this year.
UPDATE: Biden touts advanced vehicles in Greenfield
Vice President Joe Biden was in Greenfield, about 25 miles east of Indianapolis, on Wednesday morning to visit an EnerDel plant that received a $118.5 million Recovery Act grant in 2009 to expand its lithium-ion battery production.
Family Dollar plans 350 jobs in northeast Indiana
A $70 million investment in a new distribution center by the North Carolina-based discount retailer is expected to create up to 350 jobs. The facility should be operational by spring 2012.
Indiana officials hope to capitalize on Illinois’ tax woes
Governor, economic development officials look to lure companies to Indiana that now may find doing business in Illinois too costly. But a few experts question whether the state will see any immediate benefits.
Obama considers shedding rules that hurt job growth
The president planned to sign an executive order Tuesday telling federal agencies to look for rules that place an unreasonable burden on businesses.
Indiana senator set to propose lower corporate tax
Republican Sen. Brandt Hershman of Lafayette, who chairs the Senate Tax Committee, says Indiana’s corporate income tax is seen as a hindrance to job creation.
Bill seeks to boost investment credit, startups
The legislation, assigned to a committee on Wednesday, would increase the maximum for venture capital tax credits from $500,000 to $1 million, helping high-potential startups attract outside funding.
Neighboring states gleeful over Illinois tax increase
Neighboring states are plotting to take advantage of what they consider a major economic blunder and lure business away from Illinois.
Local tech consultant to expand, add 60 jobs
Indianapolis technology firm MMY Consulting Inc. will spent $700,000 to expand its local operations, economic development officials said early Wednesday, nearly doubling its staff over the next four years.
D-A Lubricant moving from Indianapolis to Lebanon
Company will purchase 23 acres and have Duke Realty Corp. build a 225,000-square-foot industrial facility in Lebanon Business Park. The move should be completed by December.
Law firm launches economic development consultancy
Barnes & Thornburg aligns with new venture BT ProjectPoint LLC to provide clients economic development and project-financing consulting services.
Money flowing to international markets
Booming growth, rising middle classes are attracting investors.
Indianapolis startup scene gains momentum
About 200 members of the Hackers and Founders group meet monthly—perhaps the most clear and strong signal that Indianapolis’ young entrepreneur community is reaching a tipping point.
State’s next economic initiative to revolve around military
Indiana economic-development officials are in the beginning stages of forming a marketing initiative—dubbed the Indiana Center for Complex Operations, or ICCO—to market the state’s budding defense sector.