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Sprayer maker plans Mooresville expansion

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Mooresville-based Equipment Technologies, which makes self-propelled sprayers for agriculture, says it plans to hire 56 new people by 2015 as part of an expansion.
 
The company said it would open a training, research and development facility at its 168,000-square-foot complex in Mooresville. ET already employs 97 Indiana residents, including 52 who live in Morgan County, it said.

The Indiana Economic Development Corp. said it would provide ET $550,000 in performance-based tax credits and $25,000 in training grants based on the company's job-creation strategy. The Mooresville Town Council provided a property-tax abatement at the request of the Morgan County Economic Development Corp.

ET distributes its sprayers and sprayer parts throughout North America, Ukraine and Australia through a network of independent dealers.
 

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  1. How can any company that has the cash and other assets be allowed to simply foreclose and not pay the debt? Simon, pay the debt and sell the property yourself. Don't just stiff the bank with the loan and require them to find a buyer.

  2. If you only knew....

  3. The proposal is structured in such a way that a private company (who has competitors in the marketplace) has struck a deal to get "financing" through utility ratepayers via IPL. Competitors to BlueIndy are at disadvantage now. The story isn't "how green can we be" but how creative "financing" through captive ratepayers benefits a company whose proposal should sink or float in the competitive marketplace without customer funding. If it was a great idea there would be financing available. IBJ needs to be doing a story on the utility ratemaking piece of this (which is pretty complicated) but instead it suggests that folks are whining about paying for being green.

  4. The facts contained in your post make your position so much more credible than those based on sheer emotion. Thanks for enlightening us.

  5. Please consider a couple of economic realities: First, retail is more consolidated now than it was when malls like this were built. There used to be many department stores. Now, in essence, there is one--Macy's. Right off, you've eliminated the need for multiple anchor stores in malls. And in-line retailers have consolidated or folded or have stopped building new stores because so much of their business is now online. The Limited, for example, Next, malls are closing all over the country, even some of the former gems are now derelict.Times change. And finally, as the income level of any particular area declines, so do the retail offerings. Sad, but true.

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