Indiana Public Employees’ Retirement Fund has launched a $50 million fund as it continues to diversify its $16.1 billion in assets into alternative investments. Investment Fund A increases the Indiana Investment Fund that PERF created last year to $155 million. In August, PERF decided to diversify 15 percent, from 5 percent, of its $16.1 billion […]
Evansville-based Berry Plastics Corp. will build a 600,000-square-foot warehouse and add 49 jobs in Evansville, Indiana Economic Development Corp. said today. The jobs will be in addition to the 1,200 already working at its headquarters and manufacturing operations in the southwest Indiana city. Berry announced March 12 that it had merged with Covalence Specialty Materials […]
AM General Corp., which makes the Humvee military vehicle and H2 consumer sport-utility vehicle, is adding 17,600 square feet to its cramped, 35,000-square-foot headquarters in South Bend. The additional training facilities and meeting rooms will make more space for working on projects, according to the South Bend Tribune. Few new jobs in addition to the […]
A company that services Honda Motor Co. plants is considering Greensburg and at least one other Indiana site for an expansion that would create 400 jobs, according to the Greensburg Daily News. Vicki Kellerman, who heads economic development in the city between Indianapolis and Cincinnati, said several states are competing for the company in one […]
Mann Properties’ request to develop 71 acres in Crown Hill Cemetery into residences and retail was denied this afternoon on a stinging 4-3 vote by the Metropolitan Development Commission. The decision cannot be appealed. Mann offered $5.23 million for the tract of woods and wetlands at the north end of the nation’s third-largest cemetery. Crown […]
Trustees of Ivy Tech Community College might choose a new president for the college at their meeting tomorrow, though it’s unclear whether controversy over their passing over Executive Vice President Carol D’Amico for the job will derail that timetable. The trustees are meeting in private session at 1 p.m. at the Conrad Indianapolis downtown to […]
The Metropolitan Development Commission is meeting at 1 p.m. to determine whether Indianapolis-based Mann Properties can buy 71 acres in Crown Hill Cemetery and develop the wooded tract into retail and residences. Crown Hill wants revenue from the sale to help maintain the historic cemetery, but some neighborhood groups oppose the project. The decision has […]
International Steel Services Inc. of Pittsburgh, Penn., said today that its Biofuels International Inc. unit has bought an option on a site in Rockport on which to build a $180 million ethanol plant. The Spencer County plant would produce 100 million gallons a year but be expandable to 200 million gallons annually. Groundbreaking at Lincolnland […]
Evansville-based Liberty Services has sued the federal government in U.S. District Court in Evansville over Liberty’s production and distribution of the Liberty Dollar, reports the Courier & Press. The suit seeks to force the U.S. Mint and others to remove a warning from the mint’s Web site stating that using the Liberty Dollar, which is […]
Indianapolis-based Arbor Homes Inc. announced plans yesterday to build a 227-house subdivision in Marion to take advantage of jobs cropping up at the Dollar General warehouse and other new employers. It’s the largest such development in the city between Indianapolis and Fort Wayne since the 1960s, according to the Chronicle-Tribune. The houses will cost $90,000 […]
A plant in Siloam Springs, Ark., operated by Bluffton-based Franklin Electric Corp. will eliminate 200 jobs as some production of low-thrust submersible motors is moved to its factory in Linares, Mexico. By July, 290 workers will remain at the Arkansas site, according to The Journal Gazette of Fort Wayne.
Indalex Inc. of Lincolnshire, Ill., said today it will expand its aluminum extrusion plant in Connersville. In exchange, the company received government incentives worth nearly $3.4 million. Indalex plans a 100,000-square-foot addition to its plant to make room for a 6,000-ton extrusion press. The expansion is expected to generate 62 new jobs and $22 million […]
Unlike the heated opposition swelling in northwest Indiana, leaders in Illinois are clamoring for the Illiana bypass to be built as quickly as possible, according to The Times of Munster. A meeting called in Porter County in Indiana earlier this month to discuss the project attracted 1,000, most of whom expressed deep reservations. Yet, Illinois […]
A draft document of ideas for renovating North Meridian Street between Interstate 65 and Fall Creek calls for many of the design cues used to reconstruct a stretch of 38th Street that crosses Meridian farther north. Recommendations being prepared for Near North Development Corp., a community-based revitalization group, vary depending on the stretch of Meridian […]
Haynes International Inc.’s long-expected initial public offering has generated $136.5 million that the Kokomo company plans to spend mostly to pay off debt and buy capital equipment. The 2.1 million shares sold at $65 each, above the forecasted $61 to $64, Reuters reported. Haynes, which has asked to be traded on NASDAQ under the ticker […]
Haynes International Inc.’s long-expected initial public offering has generated $136.5 million that the Kokomo company plans to spend mostly to pay off debt and buy capital equipment. The 2.1 million shares sold at $65 each, above the forecasted $61 to $64, Reuters reported. Haynes, which has asked to be traded on NASDAQ under the ticker […]
Triad Hospitals Inc., which owns seven hospitals in northern Indiana, has received a buyout offer from Tennessee-based Community Health Systems Inc. that beats an earlier offer from a group of private equity firms. Community Health Systems said today it is offering $5.1 billion. A group that includes affiliates of Goldman Sachs and JPMorgan Chase & […]
Indianapolis Colts quarterback Peyton Manning is the second-most marketable active athlete, according to a survey of 65 sports business and media executives by Street & Smith’s Sports Business Daily. Manning, who has endorsement deals with Sony, Reebok and Gatorade among others, rated 208 of a possible 325 points—following only the 280 points garnered in the […]
Plenty of conflicting trends are apparent when examining success of the state’s business owners, according to Morton Marcus, emeritus director of the Indiana Business Research Center at Indiana University. A lack of data makes detailed comparisons all but impossible, Marcus wrote in a column that is distributed to Indiana newspapers, including IBJ. Still, he said […]
Honda Manufacturing of Indiana LLC said today its new Greensburg plant will make Civic sedans when it opens in fall 2008. The Japanese automaker announced in mid 2006 it would build the $550 million plant, but hadn’t revealed which vehicle line the would be assembled. As part of today’s groundbreaking ceremony, Honda also said Yuzo […]
