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Vera Bradley plans to expand distribution center

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Handbag and luggage maker Vera Bradley Inc. says it plans to invest $22.5 million to nearly double the size of its Roanoke distribution center in northeastern Indiana, creating up to 124 new jobs by 2015.

The company announced the plan Thursday.

The Journal Gazette of Fort Wayne reported work will begin this fall to expand the 220,000-square-foot facility to 420,000 square feet. The project will add warehouse space, truck docks and retail store staffing areas and is expected to be completed in fall 2012.

The Indiana Economic Development Corp. says it offered Vera Bradley about $1 million in tax credits and other incentives based on its job-creation plans.

Vera Bradley has more than 1,500 employees, including 800 in northeastern Indiana.

Roanoke is 14 miles southwest of Vera Bradley's headquarters in Fort Wayne.

Vera Bradley was founded 29 years ago by Barbara Bradley Baekgaard and Patricia R. Miller. Today, it has more than 1,800 employees worldwide and fiscal 2011 sales of $366 million.

The Indiana Economic Development Corporation offered Vera Bradley, Inc. up to $975,000 in performance-based tax credits and up to $100,000 in training grants based on the company's job-creation plans. Fort Wayne and Allen County will consider additional incentives at the request of the Fort Wayne-Allen County Economic Development Alliance

 

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  • Growth
    It seems to me that so many companies focus on growth,growth,growth...bigger,bigger and eventually outgrow the demand for their product...rather than investing money in quality, their people, and saving for when the demands for their product waivers......

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  1. Aaron is my fav!

  2. Let's see... $25M construction cost, they get $7.5M back from federal taxpayers, they're exempt from business property tax and use tax so that's about $2.5M PER YEAR they don't have to pay, permitting fees are cut in half for such projects, IPL will give them $4K under an incentive program, and under IPL's VFIT they'll be selling the power to IPL at 20 cents / kwh, nearly triple what a gas plant gets, about $6M / year for the 150-acre combined farms, and all of which is passed on to IPL customers. No jobs will be created either other than an handful of installers for a few weeks. Now here's the fun part...the panels (from CHINA) only cost about $5M on Alibaba, so where's the rest of the $25M going? Are they marking up the price to drive up the federal rebate? Indy Airport Solar Partners II LLC is owned by local firms Johnson-Melloh Solutions and Telemon Corp. They'll gross $6M / year in triple-rate power revenue, get another $12M next year from taxpayers for this new farm, on top of the $12M they got from taxpayers this year for the first farm, and have only laid out about $10-12M in materials plus installation labor for both farms combined, and $500K / year in annual land lease for both farms (est.). Over 15 years, that's over $70M net profit on a $12M investment, all from our wallets. What a boondoggle. It's time to wise up and give Thorium Energy your serious consideration. See http://energyfromthorium.com to learn more.

  3. Markus, I don't think a $2 Billion dollar surplus qualifies as saying we are out of money. Privatization does work. The government should only do what private industry can't or won't. What is proven is that any time the government tries to do something it costs more, comes in late and usually is lower quality.

  4. Some of the licenses that were added during Daniels' administration, such as requiring waiter/waitresses to be licensed to serve alcohol, are simply a way to generate revenue. At $35/server every 3 years, the state is generating millions of dollars on the backs of people who really need/want to work.

  5. I always giggle when I read comments from people complaining that a market is "too saturated" with one thing or another. What does that even mean? If someone is able to open and sustain a new business, whether you think there is room enough for them or not, more power to them. Personally, I love visiting as many of the new local breweries as possible. You do realize that most of these establishments include a dining component and therefore are pretty similar to restaurants, right? When was the last time I heard someone say "You know, I think we have too many locally owned restaurants"? Um, never...

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