ISU trustees approve oil drilling
TERRE HAUTE — The Indiana State University Board of Trustees has approved an oil and gas lease with Illinois-based Pioneer Oil Co. The agreement allows the company to drill for oil on university property. Pioneer Oil will pay an upfront fee and royalties of at least 15 percent.
IU impact: Billions of dollars, lots of jobs
BLOOMINGTON — A newly-released study shows Indiana University and Indiana University Health had an economic impact of at least $11.5 billion in Indiana and supported approximately 100,000 jobs in the 2010-2011 fiscal year. The study also suggests for every dollar that comes into IU, the institution is returning nearly $25 to the Hoosier economy. The school says the report will serve as a benchmark as it continues to track growth and development.
Vectren: Rockport a ‘loser’ for customers
EVANSVILLE — Evansville-based Vectren Corp. says an expected Statehouse vote next week could be key in determining whether a proposed coal gasification plant moves forward. The company argues the plant slated for southwest Indiana would cost the state’s natural gas customers $800 million in its first eight years of operation. Vice President of Corporate Communications Mike Roeder says an increase in shale-based
Casinos look to ‘limit the damage’
INDIANAPOLIS — The President of the Casino Association of Indiana says the state must change the way it taxes gaming facilities in order to limit losses when neighboring states expand gambling. Mike Smith says potential new casinos in Ohio, Illinois and Kentucky are a “significant threat” to Indiana’s gaming industry. He says gaming revenues have “stabilized” since the recession. Smith says the industry has just passed $10 billion in total taxes paid since the state’s first facility opened in 1995.
Gary airport to mark new passenger service
GARY — The Gary Chicago International Airport will celebrate the first Allegiant Airlines flight to Orlando Wednesday afternoon. South Shore Convention and Visitors Authority President Speros Batistatos says the flight helps secure the facility’s spot as Chicago’s third regional airport.
Terre Haute airport looking for director
TERRE HAUTE — The Terre Haute International Airport is looking for an executive director. The airport says the position will be responsible for implementing strategic initiatives, leading airport staff and communicating with key stakeholders.
Raytheon cuts jobs
INDIANAPOLIS — Raytheon Co. says it has laid off workers at its Indianapolis facility. Company spokesman Jerry Petrie says the cuts were part of a “normal business adjustment.” He says the “vast majority” of the plant’s 1,200 employees remain on the job.
Gerry Dick’s Inside Indiana Business briefs appear Wednesdays, Fridays and Sundays in The Herald Bulletin. For more on these stories and more Indiana business news, visit Insideindianabusiness.com.
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Gerry Dick Business Briefs: Feb. 19
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Boxes outside Aldi catch fire
