Caterpillar seeks tax abatement for Franklin plant
Caterpillar Reman Powertrain is requesting the tax break to offset costs related to a $13.6 million investment the company says will help retain 338 factory jobs.
Caterpillar Reman Powertrain is requesting the tax break to offset costs related to a $13.6 million investment the company says will help retain 338 factory jobs.
A Hamilton County seed company has plans to expand its facilities, creating as many as 72 jobs over the next five years, state economic development officials said Friday morning.
Lightbound LLC plans to construct 50,000-square-foot data center near Kentucky Avenue on the city’s southwest side. The abatement
should save the company $2.5 million.
Fort Recovery Construction & Equipment in Portland plans to invest $1.9 million to accommodate research, development
and production of solar thermal collector panels.
Orthopedics giant Biomet Inc. plans to invest $26 million to grow operations in its hometown of Warsaw,
adding 278 jobs by the end of 2012. Biomet’s Warsaw Center of Excellence initiative calls for facility improvements
and new equipment that will allow the company to consolidate manufacturing activities from New Jersey. Research-and-development
and administrative services also will be expanded. The Indiana Economic Development Corp. offered the company as much as $2.75
million in performance-based tax credits and up to $200,000 in training grants to help the company expand. Biomet also will
get a 10-year tax abatement approved by the Kosciusko County Council.
A researcher at the Indiana University School of Medicine concluded in a clinical trial that an experimental
drug can double the cure rate for patients with hepatitis C. In the trial, doctors added the drug boceprevir, made by New
Jersey-based Merck & Co. Inc., to the standard treatment regime for the chronic liver ailment. Cure rates jumped to 75
percent using the combination therapy, compared with a 38-percent cure rate for the standard treatment. The clinical study
was led by IU’s Dr. Paul Kwo, but was conducted at 67 sites in the United States, Canada and Europe.
Matrix-Bio Inc., based in West Lafayette, received an investment from Main Street Venture Funds,
a Fort Wayne-based group of angel investors. The size of the investment was not disclosed. Matrix-Bio is using technology
developed at Purdue University to develop a test that can detect a recurrence of breast cancer earlier than mammograms and
MRI images, which are currently the most common tests.
The firm, now based in Chase Tower, wants to acquire and renovate the building at 241 N. Pennsylvania St.
Fliers circulating at General Motors' Indianapolis plant show that union members will be offered cash payments of $25,000
to $35,000 and an opportunity to keep a foot in the door with GM, if they agree to work for JD Norman Industries.
Orthopedics giant Biomet Inc. plans to invest $26 million to grow operations in its hometown of Warsaw, adding 278 jobs by
the end of 2012.
Following $5.1 million investment, the company plans to create 42 jobs by 2012 by expanding its production operations in Orestes.
Jam-packed with expensive equipment, data centers represent huge capital investments in a relatively small footprint. That
can mean steep property tax bills, though Indiana allows communities to exempt a portion of that tax. Jobs-hungry Indiana
is eager to attract more of these climate-controlled computing fortresses.
Together, Fuel Systems of Angola and Steffy Wood Products plan to create more than 170 jobs within the next three years by
investing more than $4.8 million to expand operations in Angola.
Fuel Systems of Angola and Steffy Wood Products say they will invest a total of $4.8 million on their production facilities
in northeast Indiana, creating 178 jobs by 2013.
The city’s Metropolitan Development Commission will consider providing Lightbound LLC with property tax abatements to offset
investment cost.
Millions of dollars in tax revenue that flows from the Indiana Live casino to local government coffers will be set aside for
economic development. Shelbyville Mayor Scott Furgeson hopes to present new projects to the city council in the next month
or two.
The $40 million project along West 10th Street could create 75 jobs by 2013.
Smart IT Staffing Inc said Wednesday morning that it plans to expand its Indianapolis headquarters, creating up to 80 new
jobs by 2014.
Medical device maker Biomet Inc. plans an expansion of its northern Indiana facilities that could add about
280 jobs, according to the Associated Press. Company officials have discussed the plan with Kosciusko County officials as
they've sought tax breaks on the $26 million project. Biomet attorney Richard Helm says the expansion in Warsaw would
retain about 80 jobs and lead to some manufacturing being moved there from New Jersey. The project would also expand Biomet’s
Warsaw distribution center.
Eli Lilly and Co. will cut 170 jobs—mostly in Indianapolis—from its manufacturing and quality
division by the end of the year as it continues its efforts to slim down before losing revenue from patent expirations on
its bestselling drugs. The Indianapolis-based drugmaker’s latest move will cut nearly 5 percent of its 3,600-person
manufacturing work force in the United States. Lilly will ask for voluntary departures, but it also will eliminate the jobs
of others involuntarily. Some jobs have already been eliminated through attrition. Lilly has announced nearly 2,000 job cuts
toward its goal of 5,500 cuts, which the company set in September. The company is also trying to eliminate $1 billion in annual
expenses by the end of 2011. At that time, it hopes to have a worldwide staff of about 35,000. It currently employs 12,400
in Indiana.
Hundreds of patients will be shifted from Indiana's state psychiatric hospitals into community-based care under a plan
that officials say will eliminate more than 500 jobs, according to the Associated Press. The biggest changes and the layoffs
will come at the Logansport and Richmond state hospitals, while units at the Evansville and Madison hospitals will be converted
to care for those with serious mental illnesses. The moves by the Indiana Family and Social Services Adminstration are expected
to reduce the number of patients at the six state hospitals by about 30 percent and save $15 million a year. The Logansport
State Hospital will have 355 of its 900 workers laid off and 80 vacant positions eliminated. The Richmond
State Hospital will lose 106 of its 600 workers.
A medical device company is seeking a property-tax abatement to offset costs associated with a $1.1 million expansion of
its facility at 3735 N. Arlington Ave. in Indianapolis. New York-based Greatbatch Medical Inc. expects to
create eight jobs at an average wage of $12.75 an hour and retain 146 jobs at an average wage of $14 an hour, according to
the abatement request. Greatbatch specializes in cardiovascular products but is expanding into the orthopedics market, which
is prompting the expansion, the company said.
Heritage-Crystal Clean Inc. plans to build an oil re-refinery in Speedway, creating as many as 75 new jobs by 2013.
The 24,000-square-foot former fitness facility at 8831 Keystone Crossing is vacant and falling into disrepair.
Saratoga Potato Chips plans to create 175 jobs in the northeastern Indiana city by 2013 and will begin hiring later this year.