Daily Archives: March 18, 2010

Northeast Indiana Foundation Launches Business Retention, Expansion Program

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The Northeast Indiana Foundation (NIF) has introduced Northeast Indiana’s first regional business retention and expansion program, NE Insider. This program will provide support and enhanced collaboration to the existing individual county programs.

The mission of NE Insider is to connect area businesses with the resources and services they need to thrive. Services include workforce training grants, assistance with infrastructure improvements, zoning assistance and other resources. This program will further strengthen the local economic development organizations’ (LEDOs) ongoing efforts to build strong partnerships between businesses located right here in Northeast Indiana.
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Indiana Leading Index Slips

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After a year of a slow progress, the Leading Index for Indiana (LII) retreated in February.

This news follows what had been a discouraging report for January, when the index gained no ground.

The LII, developed by the Indiana Business Research Center, is designed to reflect the unique structure of the Indiana economy. It is a predictive tool that signals changes in the direction of the economy several months before the economy has changed. In contrast to economic forecasts, which use sophisticated statistical models to foretell particular levels for a wide variety of economic activities and outcomes in the future, a leading index is a simple construct that indicates a general direction of future economic activity expected in the next five to six months.
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Notes: Indiana Now Among Top 3 States in Gaming Revenues

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Indiana has surpassed Mississippi in gaming revenue. The state is now No. 3 nationally.

Though Indiana has far fewer state-licensed casinos — 13 to Mississippi’s 30 — it has a much larger demographic base to pull from with cities like Chicago and Indianapolis within driving distance of its properties.

Indiana had two new casinos open in 2008, and in 2009 Penn National Gaming replaced the Argosy Casino, which opened in 1996, with a new $335 million Hollywood Casino. However, Mississippi officials believe the real reason Indiana moved up in the rankings had little to do with new casinos and more to do with outside factors affecting their competition, particularly a statewide smoking ban in Illinois.

Kokomo is giving $15,000 loans to a pair of local start-ups.

A liquor war appears to be brewing in the state.

NiSource is is still stuck with the Sand Creek Country Club.

The residential real estate market in Evansville has started strong in 2010.

Wabash Site Beats Out Pennsylvania, North Carolina for Trailer Manufacturer Expansion

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Novae Corporation will expand its trailer manufacturing operations in North Manchester, creating up to 85 new jobs by 2013.

Novae Corp., which manufactures both open and enclosed utility trailers, commercial lawn equipment and agricultural and industrial material handling systems, will invest more than $3.4 million to purchase, renovate and equip an 88,000 square-foot facility to grow its Sure-Trac Enclosed trailer division.
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Opportunity Enterprises Celebration of Achievement to Honor Gary Mitchell

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Tickets are now available for the 2010 Opportunity Enterprises Celebration of Achievement Breakfast, to be held on Thursday, April 8 at Strongbow Inn in Valparaiso. Doors will open at 7:00 AM with a program from 7:30 AM – 9:00 AM.

Following an awards ceremony celebrating the accomplishments of OE clients, staff, volunteers, and community partners, the event will feature a tribute to outgoing President/CEO Gary Mitchell and the growth and progress the agency has made under his 25 years of leadership.
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