Gas grill maker to employ 300
HUNTINGTON — A Canadian company is locating its first U.S. grill production facility in Huntington.
Onward Manufacturing Co. says it plans to create 300 jobs by 2011. The company produces gas grills for retail sale and will invest several million dollars to upgrade an existing building that used to house a fireplace manufacturer. Onward has already started hiring personnel in Huntington.
More counties pool economic resources
LAFAYETTE — A nine-county region including communities such as Lafayette, Logansport and Crawfordsville has formed a regional economic development organization.
Lt. Gov. Becky Skillman announced the MidWest Indiana Economic Development organization at Ivy Tech Community College’s Lafayette campus. She says the counties will pool resources to better sell the region to growing companies.
Cummins’ quarterly profit declines
COLUMBUS — Columbus-based Cummins Inc. says third-quarter net income dropped 59 percent compared to a year ago.
The engine maker is reporting earnings of $95 million, or 48 cents per share, down from $229 million, or $1.17 per share. The third quarter results include $22 million of restructuring and other charges associated with the cost of job-reduction actions.
Lilly opens new facility in California
INDIANAPOLIS — Eli Lilly and Co. has announced the opening of a new biotechnology center in San Diego.
The Lilly Biotechnology Center-San Diego will serve as the work base for more than 100 scientists. The center will primarily focus on discovering, engineering and conducting clinical trials on potential biologic medicines.
The opening follows Lilly’s announcements that its ImClone research headquarters was being moved into a new biopharmaceutical research cluster in New York.
Leading index flat in September
BLOOMINGTON — The September Leading Index for Indiana (LII) was unchanged from August due to a slight dip in the auto sector.
Three of the five components that make up the LII edged up in September, but the auto sector decline resulted in the composite index remaining flat.
The Indiana Business Research Center at Indiana University’s Kelley School of Business says the stable LII in September and the recent announcement of new manufacturing jobs in Indiana present a mixed economic picture.
Old Carco returns $5.5m in bonds
TIPTON — Old Carco LLC, formerly know as Chrysler LLC, has returned $5.5 million in bonds to Tipton County related to the failed Getrag Transmission venture.
In exchange, Indiana Secretary of State Todd Rokita says his securities division has agreed to dismiss a violations complaint against the company. Tipton County issued the bonds to Chrysler to finance the transmission plant project. The joint venture with Getrag Transmission Manufacturing fell through after Chrysler revealed it could not make the necessary guarantees to allow the German company to secure funding.
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.
Local Business
Oct. 31: Gerry Dick Business Items
- Local Business
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Volunteers needed for Daffodil Days benefit
The American Cancer Society is looking for individuals, businesses and organizations to help with its upcoming Daffodil Days program.
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Susan Miller: Minds made better thanks to lists
Not all lists are created equal. Indeed, there is an art and a science to list crafting.
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Gunman robs Old National Bank
A gunman escaped with money from a southside Anderson bank Tuesday afternoon.
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Emmett Dulaney: The tragedy of the insurance commons
In basic economics, students often hear of the concept of “the tragedy of the commons.” In overly simplistic terms, this is a situation in which many individuals share a limited resource.
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Report: Hoosier Park leaves economic mark on county
Tourism has become big business in Madison County and Hoosier Park Racing & Casino is the star attraction, concludes a recent report from the Anderson/Madison County Visitors & Convention Bureau.
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Call answered decades later
Ron Cross' family and friends thought he was crazy for quitting a well-established career, but Cross thought there was something better out there for him. And he wanted to set a good example for his children — now 17 and 24 — by going to college.
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Gerry Dick Business Briefs: Feb. 5
A compilation of business news items of local and statewide interest, provided by writer Gerry Dick.
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'Big Joe' Clark: Housing market yet to bottom out
As housing prices slow their massive drop from the highs we saw in 2006, economists and market analysts alike want to have their voices heard when they call for a bottom in the housing market. It just isn’t time yet.
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Rivals back home, friends here
Football fans began arriving here for Super Bowl XLVI on Friday, bringing together complete strangers, families and old fraternity buddies.
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Members accuse city union treasurer of stealing
Over $30,000 in dues is missing from a city union, according to two members.
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Volunteers needed for Daffodil Days benefit
