Wages rose unexpectedly fast in January, too. The strong hiring and wage growth could complicate or delay the Federal Reserve’s intention to start cutting interest rates later this year.
Indiana chosen for $3B electric vehicle battery plant, 1,700 jobs
General Motors and South Korea-based Samsung SDI announced Tuesday that they have selected a 656-acre site in New Carlisle to build the plant, which could become operational by 2026.Read More
Noblesville City Council approves incentives for $30M SMC expansion plan
SMC Corp. of America plans to expand its total workforce in Noblesville to 1,157 by 2032.Read More
Battery maker seeks tax break to build potentially massive plant in Indiana
A joint venture between General Motors Co. and LG Energy Solution has filed a tax abatement application for a facility in New Carlisle that—based on similar projects elsewhere—could bring more than $2 billion in investment and more than 1,000 jobs to northern Indiana.Read More
Food manufacturer plans $58M expansion, 90 new jobs in Lebanon
Ontario-based Skjodt-Barrett Contract Packaging LLC plans to expand its Boone County plant by 340,000 square feet.Read More
The state’s job-creation agency says it secured $28.7 billion in new capital expenditures in 2023, a 29% increase over the the previous year. But some of the projects on the list are yet to be announced.
United States Cold Storage announced Tuesday it has received approval from the Lebanon City Council for its plan to add 60,000 square feet to the facility and create 30 jobs.
The Singapore-based company on Tuesday announced intentions to renovate and equip an existing 150,000-square-foot space just south of downtown Indianapolis to serve as its U.S. headquarters.
The facility will support the steelmaker’s recently established Towers & Structures business unit, which manufactures a variety of utility structures, including engineered poles, light-duty poles and substation structures.
The Indianapolis-based firm has already made progress on its goal of hiring 113 additional Hoosiers by the end of 2026.
The IEDC says it would like to hire two more people this year, perhaps on the East Coast and in the Southeast, who can also scout for companies that might be persuaded to invest in Indiana.
Indiana Gov. Eric Holcomb said 218 companies committed this year to locate or expand in Indiana this year, with plans to add a total of 24,059 Hoosier jobs.
SMC Corp. of America, Noblesville’s largest private employer, said the new jobs would pay at least $59,000 annually.
Germany-based Evonik announced Thursday that it will expand its pharmaceutical production facility in Lafayette. The plant will build produce lipids for mRNA-based therapies in the United States.
However, the state’s labor force participation remains at 61.9%—a record low for at least the last 45 years if one doesn’t count its sudden fall to 60.8% and quick recovery in the first three months of the pandemic.
Develop Indy, Indianapolis’ economic development agency, made incentive deals involving 71 business relocation or expansion projects during the first 11-plus months of the year, officials announced Tuesday.
After two disappointing months of hiring, a key question overhanging Friday’s U.S. jobs report for October will be whether companies found more success this time in filling millions of open positions.
Leaf Software Solutions Inc. said the revamp of the 18,000-square-foot space at 14300 Clay Terrace Blvd. will help it meet an increased demand for its custom software products and financial software services.
Brad Chambers said he believes a “reevaluation of what the marketplace is doing” by the Indiana Economic Development Corp. will be a good thing—and a natural move for any agency or company when it changes leadership.
Ludo Fact USA LLC announced plans Tuesday to boost operations in Lafayette, adding up to 114 workers by the end of 2024.
Bedding giant Tempur Sealy International Inc. announced Monday that it has chosen a 130-acre site about 50 miles from Indianapolis to construct what could become it largest plant.
Last month’s job growth was above April’s revised total of 278,000, the Labor Department said Friday, yet well short of employers’ need for labor. The unemployment rate fell to 5.8% from 6.1%.
The company, which stands to receive more than $6 million in state and local incentives, said it could expand its investment in central Indiana to $490 million and its hiring plans to 425 by 2025.