Traci Dossett, VP of operations, explains what’s so great about Software Engineering Professionals, the Carmel company that won the Best Place to Work in Indiana award in the small/medium category earlier this month. Centier Bank of Merrillville took home the honor in the large company category.
On this St. Patrick’s Day, the Indiana Business Research Center offers a few statistics on Irish roots in the Hoosier State:
Be sure to celebrate thoroughly and safely.
Chamber President Kevin Brinegar recently appeared on Inside INdiana Business discussing a potential delay in the unemployment insurance fund tax increase.
The President of the Indiana Chamber of Commerce is "cautiously optimistic" a deal will be reached to delay a tax increase on businesses to support the state’s bankrupt unemployment insurance fund. Kevin Brinegar believes a two-year delay in implementation is the most likely scenario. He says there are still some "differing views" that need to be worked out, including issues such as higher benefit levels, automatic benefit increases and paid family and medical leave…
Brinegar says the unemployment insurance system is not designed to fund family and medical leave.
He says a two year delay would provide time to see what Congress will do to deal with the issue because several states are dealing with dwindling unemployment insurance funds, which is part of a national program.
Brinegar also says the chamber is "very disappointed" a bill allowing employees to keep guns locked in their vehicles parked on company property has gone to the governor’s desk.
He says the chamber is also monitoring a tax proposal that would give companies more time to file amended personal property tax returns on their business machinery and equipment.
Chris Rund, director of PR and communications for Indiana Rail Road Company, discusses innovation and technology in the world of rail. He explains the industry is making aggressive capital investments in projects across the country despite the lagging economy.
I would file this under "bold statement," although we all hope it’s true:
Michael Hicks, director of Ball State’s Center for Business and Economic Research (CBER), says today’s announcement that the economy grew by an astounding 5.7 percent in the fourth quarter of 2009 officially shuts the door on the recession.
The first estimate by the U.S. Commerce Department put fourth-quarter gross domestic product growth at its fastest pace since the third quarter of 2003. Hicks said the recession that began in late 2008 will be ranked the third or fourth worst post-World War II economic setback.
However, he points out the decline in wealth in homes and stocks was the worst since the Great Depression.
"The down side is that the third quarter annual growth rate of 2.2 percent, was disappointingly low coming out of such a deep recession," Hicks says. "While today’s numbers are good, they may well be revised downward significantly as we saw for the previous quarter."
"While this has not been the worst postwar recession, the recovery may well be. I’m expecting it to be late summer before we see the unemployment rate to show any permanent decline. Real job creation won’t materialize until nearer the retail holiday season later this year."
Elkhart’s recent economic struggles have been well-documented, most notably last year when President Obama visited. But hopefully the page is turning in Northern Indiana as Gov. Daniels and others laud the fact that a Scandinavian electric car manufacturer plans to bring several hundred jobs to the area.
Indiana Governor Mitch Daniels and local officials joined executives from electric car manufacturer, THINK today to announce the company’s decision to locate its North American production facility in Elkhart, creating more than 400 jobs by 2013.
A leading international manufacturer of pure electric vehicles (EV) based in Norway, THINK is scheduled to begin selling the THINK City, one of the world’s first highway-ready EVs, in the U.S. later this year. The company plans to invest more than $43 million in building improvements and equipment in Elkhart. The plant is slated to begin assembling vehicles in early 2011. THINK’s investments in Elkhart will support manufacturing capacity for more than 20,000 vehicles a year. The company recently started delivering the latest generation of its THINK City model to customers in Europe where it has more than 1,500 cars on the road.
"We’ve said we’re out to make Indiana the electric vehicle state. It’s beginning to look like the state capital will be Elkhart County," said Daniels.
The THINK City can travel at highway speed for more than 100 miles on a single battery charge with zero tailpipe emissions. The vehicle is currently in production in Finland at the site of THINK’s manufacturing partner, Valmet Automotive, which also houses assembly facilities for Porsche AG’s Boxster and Cayman models. European production of the THINK City will continue at Valmet to support European market demand.
Inside INdiana Business has the full presser here.
Ray Rice, director of marketing for Montgomery Aviation, discusses the value of flying for businesses as well as the misperceptions surrounding it these days. Read the related BizVoice article here.
From the Department of Workforce Development:
Indiana’s preliminary seasonally-adjusted unemployment rate showed little change in October, the Indiana Department of Workforce Development reported today.
Indiana’s preliminary rate of 9.8 percent marks an increase of 0.1 percent from a revised September rate of 9.7 percent (+0.1 percent). Indiana’s month-to-month change is considered statistically insignificant. The national unemployment rate increased in October 0.4 percent to 10.2 percent.
"Indiana’s unemployment rate has held relatively steady for the past three months despite a steadily climbing national rate," said Teresa Voors, Commissioner of the Indiana Department of Workforce Development. "However, a projected soft holiday retail season combined with a slump in manufacturing and hospitality employment tempers my optimism concerning the coming months."
Seasonally-adjusted total non-farm employment in Indiana declined by 1,600 in October. Indiana reported the largest employment declines in manufacturing (-5,000), mostly attributed to a slowdown in domestic automobile manufacturing following a temporary "Cash for Clunkers" spike, and leisure and hospitality (-5,900). Sectors reporting large job increases include: construction (4,000), professional and business services (2,200) and financial activities (2,200).
Indiana continues to report the lowest unemployment rate of its neighboring states. Illinois increased 0.5 percent to 11.0 percent. Ohio’s unemployment rate grew 0.4 percent to 10.5 percent. Kentucky increased 0.3 percent to 11.2 percent. Michigan decreased 0.2 percent to 15.1 percent.
Additionally, here is a county breakdown of unemployment figures.
Hat tip to Inside INdiana Business.
Yes, our current health care system is broken. No, a multi-billion dollar annual tax on medical device companies should not be part of any so-called solution. As our country seeks to emerge from the recession, the last thing we should be doing is discouraging entrepreneurs and businesses that are providing all-important technologies and jobs. Continued innovation, not intervention, is what is needed.
Steve Ferguson, a longtime Indiana business and community leader, describes why the tax is so bad for our state. Ferguson, the 2010 Indiana Chamber board chairman and chairman of Cook Group in Bloomington, talked with Gerry Dick of Inside INdiana Business.
Dean Graham of Indy-based Road Rage Fun Signs speaks about taming the road while building bridges between businesses in the state. The company works with many Indiana businesses to produce their signs, including Goodwill of Central Indiana. Graham and his wife have high aspirations for their new venture, including benevolence. Their signs run the gamut to include various warnings between drivers and messages of well-wishing or support for local sports teams/high schools.
Read more about this unique upstart business in the current edition of BizVoice.