Daily Archives: February 26, 2010

ISA Announces Annual Award Winners

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The Indiana Subcontractors Association (ISA) named Pepper Construction of Indiana, LLC, and Kettelhut Construction Inc., as its its two “GC of the Year” Award winners at the annual ISA banquet last evening.

Pepper Construction won in the category for general contractors with over $100 million in annual revenue and was recognized for their focus on building relationships with subcontractors and their commitment to increased diversity in the construction market.

Kettelhut Construction won in the category for general contractors with under $100 million in annual revenue. Kettelhut was recognized at the event as being dedicated to positive subcontractor relations and as a key player among Indiana’s General Contractors
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Study: Property Tax Caps Will Boost State Economy

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Property tax caps should boost Indiana’s economy over the next few years by increasing homeowner’s disposable income and lowering costs for businesses, says a new study from Ball State University.

An analysis by Ball State’s Center for Business and Economic Development (CBER) of the economic impact of the property tax caps found that the value of products created in the state (gross regional products or GRP) should grow by $6.2 billion or 2.6 percent and about 97,000 jobs will be created within three to five years.

Property tax limits have been phased in since 2008. This year, the caps will limit homeowners’ bills to 1 percent of the property’s assessed value. Bills for farmland will be capped at 2 percent of assessed value and commercial land at 3 percent. The state’s sales tax was increased from 6 to 7 percent.
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Indiana Home Sales Dip But Prices Rise

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Indiana home sales in January decreased 1.5% from the same month last year, but median prices saw an increase of 12.4%, according to the Indiana Association of REALTORS’ “Indiana Real Estate Markets Report” for the month of January.

This is the fourth consecutive month that there has been an increase in median prices.

“January’s numbers were mixed,” said Karl Berron, Chief Executive Officer. “Median prices are higher than a year ago, but sales, compared with January of 2009, were slightly lower. Longer term trends are positive, with the last three months’ sales higher than a year ago, thanks in part to the first time home buyer’s tax credit.”
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Notes: New Lafayette Hospital Opens

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It was move-in day at St. Elizabeth East in Lafayette.

A Jasper County judge will rule on Porter County’s attempt to pull out of the Northwest Indiana Regional Development Authority on March 11.

The Indiana House approved legislation which would allow the proposed Illiana Expressway to be built by a public-private partnership as a toll road. The bill now goes back to the Senate for approval of changes made by the House. The Senate approved the original legislation in January.

Rensselaer school officials are exploring building a new elementary school, which would cost between $9 million and $11 million.

Legislation to ban smoking in virtually all public places is back on again after being pulled from consideration earlier this year.

IU Forms Economic Development Council

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As part of its “Innovate Indiana” initiative, Indiana University has established a university-wide engagement council composed of economic development representatives from IU’s eight campuses and three engagement offices located throughout the state.

The newly created IU Council on Regional Engagement and Economic Development will be chaired by Bill Stephan, IU vice president for engagement. The purpose of the council is to create a university-wide forum to more effectively connect with all IU campuses and the communities they serve in addressing regional economic issues. Council members from IU campuses have been directly appointed by their respective chancellors.
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