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November 14, 2013
Indiana Workers Boosting Lilly Battle
Investment to Combat Diabetes
The president of Eli Lilly and Co.'s (NYSE: LLY) diabetes division says Indiana's highly-skilled work force played a role in the decision to make a major investment in insulin device manufacturing in Indianapolis. Enrique Conterno says Lilly is positioned well to leverage products to combat the disease that has reached "epidemic" proportions. Lilly marked World Diabetes Day this morning by announcing a $700 million global investment in its continuing fight against the disease.
Study of Proposed Reservoir Clears Funding Hurdle
A plan to build a 2,100-acre reservoir in Madison and Delaware counties has landed $600,000 from the state for the second phase of a feasibility study. Corporation for Economic Development Anderson/Madison County Executive Director Rob Sparks says the group hopes to have a "very good idea" of the proposed Mounds Lake Reservoir's overall impact by spring.
Funding to Support Two Ivy Tech Locations
Ivy Tech Community College has announced two gifts that will support efforts in Lafayette and Frankfort. The Beck family and Beck's Superior Hybrids are helping to fund construction in Frankfort and an initiative to expand the Lafayette campus. The Frankfort site has also received a grant from Archer Daniels Midland Co. (NYSE: ADM).
State Approves Upgrades to Rockport Power Plant
The Indiana Utility Regulatory Commission says Fort Wayne-based Indiana Michigan Power can move forward with improvements that will help its Rockport Generation Plant meet federal environmental standards. The commission says the project will cost around $260 million, compared to previously-proposed methods which would have cost approximately $1.4 billion.
Entrepreneur Invests in Eye Care Business
The owner of Fort Wayne-based Sweetwater Sound has made a major investment into an eye care provider in the city. Longe Optical says Chuck Surack's infusion of nearly $1 million is funding an all-digital optical lab.
Construction Company Shuffles Leadership
Chicago-based Pepper Construction Group has named Bill McCarthy chief executive officer. He has served as president of Pepper Indiana since 1995. The announcement is one of several leadership changes unveiled today by the company.
Lebanon to Dedicate Community Center
Lebanon Community School Corp. is set to dedicate the new Herman B. Wells Community Center. This afternoon's event will spotlight the convention center space, which was funded by the school district and the city of Lebanon.
Rolls-Royce Marks Milestone Engine
Rolls-Royce has delivered its 1,500th AE 2100 engine for Lockheed Martin aircraft. The engine is manufactured, assembled and tested in Indianapolis. Rolls-Royce says the milestone unit has been sent to a Lockheed Martin facility in Georgia for an aircraft that will be delivered to the U.S. Air Force next year.
Indiana Tech Announces 'Fast Track' Degrees
Fort Wayne-based Indiana Tech has detailed new, faster degree programs. The "Three to Degree" and "Four to More" initiatives will offer three-year bachelor's and four-year master's degrees beginning next fall.
IU Event to Examine Obesity
An Indiana University event next week in Indianapolis will focus on economic opportunities for businesses that address worldwide obesity. The latest installment in the Indiana Life Sciences Collaboration Conference Series will feature a keynote address from Donald Hensrud from the Mayo Clinic.
AT&T Extends Mobile Footprint
AT&T Inc. (NYSE:T) has expanded 4G LTE coverage in parts of central Indiana. The company has upgraded more than a dozen cell sites in Marion, Shelby and Johnson counties.
Knox County Company Buys Evansville Firm
Vincennes-based The AME Group has acquired an Evansville consulting business. The company says the deal involves more than a dozen Information Technology Architects Inc. employees and will bolster its health care and human resources offerings.
INside Edge Stories
Productive And Profitable: Indiana's Life Science Manufacturing
By: Carol O. Rogers, Indiana Business Research Center at IU Kelley School of Business
While there are multiple indicators of industry performance in the life sciences, such as the number of patents awarded or employment in the sector, what about productivity and profitability? To understand these dimensions in relation to life science manufacturing, a twin set of metrics was recently created by IU Kelley School of Business economists in collaboration with life science experts at BioCrossroads.
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Market Indexes at 12:45
TV: Next on 'Inside INdiana Business With Gerry Dick'
News From WTHR, Indiana's News Leader
In 2012, the longest and shortest work commutes were in Maryland and South Dakota, respectively. In Indiana, the average commute time was 23.5 minutes and 82.4 percent drove to work alone in a car, truck or van. Pew Research says the numbers vary significantly by state.
A small-scale program that disburses financial aid to students every other week - after tuition and fees are paid - is about to get a large-scale evaluation. The potential for Aid Like a Paycheck is that it could help students stay in college but also save money at the federal, state and private level by ensuring that aid is distributed while students maintain their enrollment.
Former Senator Richard Lugar was honored Tuesday as the Indiana Chamber's 2013 Government Leader of the Year. Lugar will return home to Indiana once again in February when he headlines the 2014 Indiana Chamber Legislative Dinner. Tables and tickets are available now for the February 12 event.
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