Daily Archives: September 3, 2010

EDC Salutes Elkhart Rebound

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Elkhart County, Indiana, transformed quickly from a symbol of recession to a sign of recovery, recently celebrated last year’s stunning success, when more than $245 million in investments created 4,700 new jobs.

The Economic Development Corporation (EDC) of Elkhart County honored 10 local business leaders at its Investors Meeting for their contribution to the winning trend.

The county, once described as the white-hot center of the national recession, was named the top destination for corporate expansion among metropolitan areas with populations of less than 200,000 in 2009. It also earned Site Selection Magazine’s Governor’s Cup for the year.
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Indiana Workforce Snapshot

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Just in time for Labor Day this Monday (Sept. 6), the Indiana Business Research Center in Indiana University’s Kelley School of Business has offered some interesting facts and figures about the Indiana labor force.

There were 3.1 million people in Indiana’s labor force in July 2010 (seasonally adjusted). Indiana’s labor force ranks as the nation’s 16th largest and accounts for 2 percent of the U.S. total.

10.2 percent of the Hoosier labor force was unemployed in July 2010. The unemployment rate for the United States was 9.5 percent for the same month.
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Notes: Muncie Factory Rebounding

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An unnamed buyer has signed a letter of intent to purchase Delaware Machinery in Muncie. Meanwhile, work at the facility, currently in receivership, is increasing.

“Continued conversations with Chrysler’s risk management group resulted in them being comfortable (enough) with receiver management to allow their purchasing to release approximately $3.5 million worth of purchase orders and to re-instate blanket purchase orders which had been canceled,” [receiver Dennis] Kebrdle said. “The work schedules on these purchase orders extend into February 2011. One Chrysler buyer commented ‘this is the most business I have ever placed with a company in receivership.’”

Employment at the factory at 720 S. Mulberry St. continues to climb back, reaching about 85 compared to 61 in February.

The company continues to receive request for qualifications from the likes of Rolls Royce, Parker Hannifin and Pratt & Whitney.

Kokomo Gas and Fuel has filed a petition to consolidate with NIPSCO.

Senior housing developments continue to surface in Fort Wayne.

The Indianapolis Sheraton will undergo a $12 million makeover starting in November.