Down Economy Slows Population Movement, Growth

The economic slump of 2008 and 2009 appears to have dampened population movement in many parts of Indiana, according to a new report from Indiana University’s Indiana Business Research Center.

This trend is most noticeable in central Indiana where, according to 2009 population estimates released today by the Census Bureau, Hamilton, Marion and Hendricks counties registered the largest population increases among Indiana counties. However, the growth in Hamilton and Hendricks counties was well below their annual averages during this decade.

Hamilton County added 8,350 residents in 2009 compared to an average annual increase of 10,700 between 2000 and 2008. Hendricks County grew by an average of 4,060 people annually over this same period compared to 2,780 residents in 2009.
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William Lowe Named New IU Northwest Chancellor

Indiana University President Michael A. McRobbie has chosen William Lowe as the new chancellor of the IU Northwest campus, subject to the approval of the IU Board of Trustees. Lowe has been serving as provost and vice president for academic affairs at Metropolitan State University in St. Paul, Minn.

Lowe has been at Metropolitan State University since 2003 and is also a professor of history. In addition to serving in his current position, he served as interim president of the university from 2007-08. From 1997-2003, he was vice president for academic affairs at The College of Saint Rose in Albany, N.Y.
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Fred Tucker Retires

After 33 years of growing the F.C. Tucker Company into the state’s largest, Indiana-based residential real estate firm, Fred C. Tucker, III, president of F.C. Tucker Company, is retiring and selling his ownership interest to his longtime business partner and friend of many years, H. James Litten, president of F.C. Tucker Company Residential Real Estate Services.

Fred Tucker is officially retiring effective April 1, 2010, when Jim Litten will become president of the F.C. Tucker Company and assume responsibility for managing both Tucker’s Residential Real Estate Services and Tucker’s family of eight additional businesses (Home-Link Services, Title Services, L.L.C., Tucker Associates, Inc. (franchising), Tucker Insurance Agency, Tucker Mortgage L.L.C., Tucker Referrals, Inc., Tucker/Schrader Auction Company, L.P., and Tucker School of Real Estate (licensing)) and two strategic alliances (HMS Home Warranty and The Bryant Company (residential leasing and management)).
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Notes: Student Loan Reform Threatens 700 Jobs at Muncie Call Center

Student loan program reforms passed as part of health care reform legislation could cost Muncie 700 jobs depending on how things shake out.

The reforms passed Sunday night as part of the health-care reform package could prompt student lender Sallie Mae — which employs 700 people at a Muncie call center — to cut a quarter of its workforce or close its Muncie office outright. The student lender has estimated it could cut its 8,600-member workforce by as many as 2,500 and reduce its locations nationally from 25 to a half dozen.

The Supreme Court again rejected a request from Michigan to close locks in Chicago to prevent Asian carp from getting into the Great Lakes.

Keith Pitcher is retiring after 13 years as head of the Madison County Chamber of Commerce.

Fort Wayne will close a high school and an elementary school and lay off 138 teachers, administrators and other personnel.

The Indy Star nutshells health care reform.

A new four-screen cinema will open in April in La Porte.

The executive director of the Evansville Convention & Visitors Bureau is leaving for a new post in Iowa.

Notes: Daniels Signs Guns, Illiana Bills

Gov. Mitch Daniels has signed into law two pieces of legislation, one allowing workers to bring guns to work as long as they are kept locked in their cars, the other approving public-private partnerships to build the Illiana Expressway in Northwest Indiana and the Ohio River Bridges Project in Southeast Indiana. His office released brief statements on both measures. On the gun bill:

Considering the clear language of the Second Amendment of the U.S. Constitution, and the even stronger language of Article 1 Section Thirty-Two of the Indiana Constitution, protecting these rights as provided in HEA 1065 is appropriate. I also am compelled to give great weight to the overwhelming consensus of both Houses of the General Assembly as they passed this bipartisan statute. The law does contain ambiguities that the General Assembly may wish to refine at some future date, to avoid unnecessary litigation, but the understandable concerns raised against the bill do not suffice to justify a trespass on a fundamental right so expressly protected by our founding documents

And of the Illiana/Ohio River Bridges legislation:

No action of this General Assembly has greater potential for job creation than SEA 382. The Illiana Expressway in northwest Indiana and the Ohio River Bridges in southeast Indiana are long-sought major infrastructure projects with the potential for significant economic impact. This bipartisan legislation enables the use of public-private partnership financing options, which are the only practical means of making them happen. While other states are shuttering their highway programs, Indiana is shattering all records for infrastructure investment, and this could extend that record with enormous benefit to Hoosiers at opposite corners of our state.

The LA Times spanks Indianapolis-based WellPoint for not living up to a three-year-old pledge to donate $30 million toward covering those without health insurance.

Shelby County has decided to dedicate about $4.4 million annually in “racino” revenues into economic development efforts.

Home building activity ticked up in Fort Wayne in the first two months of the year.

The Porter County Convention, Recreation and Visitors Commission has changed its name to Indiana Dunes Tourism.

ADCO will shutter its Evansville operations, costing the city about 100 jobs.

Northeast Indiana Foundation Launches Business Retention, Expansion Program

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

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

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

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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