City tries to claw back $380,675 from exiting Rexnord Corp.
As the manufacturer prepares to move its Indianapolis operations to Mexico, city officials are demanding a refund in tax incentives received by the firm.
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Local exporters wary of Trump policies
Hoosier businesses hope negative campaign talk about nation’s trade deals won’t restrict free flow of Indiana goods outside U.S. borders.
Rexnord definitely moving Indy operations to Mexico, union says
Rexnord Corp. plans to proceed with the closure of its Indianapolis bearings plant, according to the union that represents most of the plant’s approximately 350 employees.
Worker dies in apparent accident at Indianapolis recycling plant
Police were told that the man was apparently trying to unclog a recycling machine when it turned on while he was inside.
GM laying off over 2,000 at 2 Midwest car plants
General Motors also announced that it would invest more than $900 million in three plants to prepare for undisclosed new vehicles, including a plant in Indiana that has about 870 employees.
Packaging entrepreneur, 84, to sell family firm for $100M
Bob Haddad started the box company in 1975. It since has branched out to a wide variety of products and several location in Indiana and Illinois with 300 employees total.
Feds pitch in to help Citizens with plan to redevelop coke plant
The plant closed in 2007, taking 300 jobs. It opened in 1909 and at one point produced all the gas used for heating Marion County.
Cummins CEO: Companies need to stand up for free trade, TPP
Tom Linebarger points to the company’s Seymour plant where 800 employees produce high-speed diesel engines—70 percent of which are exported globally—as a key reason he believes free trade is good for the Hoosier worker.
Mayor unsure how much of Rexnord incentives city could claw back
Indianapolis officials had success recovering $1.2 million from Mexico-bound Carrier Corp. In the case of Rexnord Corp., which announced a tentative plant closure last week, the incentives in play could be far less.
Indiana’s manufacturing industry losing steam, survey says
Respondents from a wide range of sectors across the state say their expected growth rates for revenue, profit and capital investment are lower than in recent years.
Vertellus workers qualify for federal layoff assistance
The U.S. Department of Labor says Vertellus employees affected by a pending plant layoff can apply for Trade Adjustment Assistance.
Rolls-Royce’s $400M modernization is massive juggling act
With Project Condor, the manufacturer will update its Tibbs Avenue and Raymond Street plants while continuing uninterrupted production of high-precision engines for military aircraft.
Office furniture maker ending Indiana operations; 365 to lose jobs
Paoli Inc. will begin shutting down its corporate campus in Orleans in phases beginning in January and permanently close by the end of next October, the company said. The furniture maker got its start in 1926.
Bankruptcy court clears way for Magnetation shutdown
A bankruptcy court has cleared the way for Magnetation LLC to shut down its remaining operations, including a plant in Indiana that had about 165 workers six weeks ago.
City secures federal grant to help Carrier workers
The city of Indianapolis has received a $355,000 federal grant to help support about 1,400 workers displaced by Carrier Corp. The grant will be used to hire a “recovery coordinator.”
Federal judge OKs $454M Vertellus Specialties acquisition plan
A federal bankruptcy judge approved the sale of Indianapolis-based chemical company Vertellus Specialties Inc. on Thursday after the U.S. Environmental Protection Agency withdrew its objection to the sale.
Coca-Cola manufacturing operations in Indiana switching hands
Charlotte, North Carolina-based Coca-Cola Bottling Co. Consolidated, an independent bottling company, has signed agreements to purchase Indiana manufacturing and distribution plants in Indianapolis and Portland, plus one in Cincinnati, from Coca-Cola Refreshments USA Inc.
EPA objects to Vertellus Specialties acquisition plan
Indianapolis-based Vertellus Specialties Inc. is at odds with the U.S. Environmental Protection Agency over whether a proposed $454 million sale of the chemical company will provide adequate resources to address environmental cleanup needs.
U.S. factory activity shrinks for first time in 6 months
The report suggests that manufacturers continue to struggle as businesses spend less on machinery, computers and other large equipment. Auto sales have also leveled off this year after reaching a record level in 2015.
Subaru supplier to create 32 jobs in Carmel
Moriden America makes cargo systems and interior trim for the auto industry and plans to ramp up production to meet demand from a Subaru assembly plant in Lafayette.