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AIT shares profit with employees - again

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AIT Laboratories said Monday morning it is awarding another $1 million in bonus money to employees, bringing their total take in profit sharing this year to an impressive $3 million.

The Indianapolis-based forensics, clinical and pharmaceutical testing firm began doling out profit-sharing bonuses to its workers in 2007. But this is the first time they received two within the same year.

“We like to reward our employees when the company is profitable,” AIT CEO Michael A. Evans said in a written release. “The employees are the ones responsible for the company being profitable, so it is the right thing to do to have them share in that success.”

Evans gave employees $2 million in June, in a surprise, mid-year bonus. The following month he transferred full ownership of the company to employees as part of an employee stock ownership plan, or ESOP.

AIT this year added more than 170 employees, bringing its nationwide work force to roughly 365, including 265 at its Indianapolis headquarters on the west side.

The company doubled its sales staff in 2009 and entered more than 15 new markets.

The growth has helped AIT zoom up Inc.’s list of the 5,000 fastest-growing private companies.
 
Founded in 1990, the firm now ranks 598, up from 1,466 a year ago. The list is based on percentage growth in revenue.
 
According to Laboratory Economics, AIT posted sales of $34 million in 2008, an improvement from $16 million in 2007. The company this year expects revenue to climb another 75 percent, which would mark its sixth consecutive year of double-digit growth.
   
In February, the Indiana Chamber of Commerce named the firm its 2009 Small Business of the Year.

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  1. The east side does have potential...and I have always thought Washington Scare should become an outlet mall. Anyone remember how popular Eastgate was? Well, Indy has no outlet malls, we have to go to Edinburgh for the deep discounts and I don't understand why. Jim is right. We need a few good eastsiders interested in actually making some noise and trying to change the commerce, culture and stereotypes of the East side. Irvington is very progressive and making great strides, why can't the far east side ride on their coat tails to make some changes?

  2. Boston.com has an article from 2010 where they talk about how Interactions moved to Massachusetts in the year prior. http://www.boston.com/business/technology/innoeco/2010/07/interactions_banks_63_million.html The article includes a link back to that Inside Indiana Business press release I linked to earlier, snarkily noting, "Guess this 2006 plan to create 200-plus new jobs in Indiana didn't exactly work out."

  3. I live on the east side and I have read all your comments. a local paper just did an article on Washington square mall with just as many comments and concerns. I am not sure if they are still around, but there was an east side coalition with good intentions to do good things on the east side. And there is a facebook post that called my eastside indy with many old members of the eastside who voice concerns about the east side of the city. We need to come together and not just complain and moan, but come up with actual concrete solutions, because what Dal said is very very true- the eastside could be a goldmine in the right hands. But if anyone is going damn, and change things, it is us eastside residents

  4. Please go back re-read your economics text book and the fine print on the February 2014 CBO report. A minimum wage increase has never resulted in a net job loss...

  5. The GOP at the Statehouse is more interested in PR to keep their majority, than using it to get anything good actually done. The State continues its downward spiral.

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