Indiana businesses encouraged to apply for Manufacturing Readiness Grants

The following news release is from the Indiana Economic Development Corporation.

INDIANAPOLIS  – Applications for the Manufacturing Readiness Grant program, which Governor Eric J. Holcomb and the Indiana Economic Development Corporation (IEDC) first announced in May, are now open to Indiana manufacturers across the state.

The Manufacturing Readiness Grants, administered by the IEDC in partnership with Conexus Indiana, are part of the $10 million Economic Activity Stabilization and Enhancement (EASE) program designed to stimulate manufacturing investments that will position Hoosier operations, and the sector overall, for future growth and prosperity. Through the program, $4 million is now available to Indiana companies in the form of matching grants, encouraging operational investments for:

  • Companies committing to modernizing their operations by integrating smart technologies and processes in order to improve capacity and efficiencies, and
  • Companies investing in health care manufacturing technology to support critical COVID-19 response efforts.

Indiana startups, small businesses, entrepreneurs and manufacturers investing in these activities may apply for a matching grant up to or equal to the amount of the qualified investment in new equipment and machinery (minimum 1:1 investment match). Funding will be awarded up to $200,000 per company, but matching grants may exceed that threshold for significant projects that will support COVID-19 response efforts, such as the manufacturing of critical personal protective equipment (PPE), testing supplies or vaccines.

To be eligible, applicants must be registered to do business in Indiana with the Secretary of State’s Office and have plans to purchase smart manufacturing or health care manufacturing technology and equipment that will be located and utilized in Indiana. Applicants do not need to be headquartered in Indiana, but grants will be prioritized for companies that maintain their primary operations in Indiana. Applications will be evaluated based on the project’s overall expected impact on the company’s operations (i.e. percentage of resulting smart manufacturing operations); its workforce, training and wage increases; new Hoosier jobs; and the state’s manufacturing capabilities.

Indiana companies are encouraged to submit applications online.

Conexus Indiana, a nonprofit-branded initiative of the Central Indiana Corporate Partnership (CICP), will review and evaluate all grant applications, leveraging a statewide committee of industry and academic professionals. The committee will make grant recommendations to the IEDC for approval and expects to issue an initial round of recommendations in August. Interested companies are encouraged to apply as soon as possible due to high demand.

About Conexus Indiana
For more than a decade, Conexus Indiana, one of the Central Indiana Corporate Partnership (CICP) non-profit initiatives, has been positioning the Hoosier State as the best place for advanced manufacturing and logistics industries to invest, employ and succeed. By collaborating with industry, academic and public sector partners on a shared vision for an innovative, skilled workforce and stronger business climate, Conexus Indiana has helped to create opportunities for advanced manufacturing and logistics companies, prepare Hoosiers to succeed in the state’s largest industry sectors and maintain Indiana’s competitive advantage. For more information, go to www.conexusindiana.com.

About IEDC
The Indiana Economic Development Corporation (IEDC) leads the state of Indiana’s economic development efforts, helping businesses launch, grow and locate in the state. Governed by a 15-member board chaired by Governor Eric J. Holcomb, the IEDC manages many initiatives, including performance-based tax credits, workforce training grants, innovation and entrepreneurship resources, public infrastructure assistance, and talent attraction and retention efforts. For more information about the IEDC, visit www.iedc.in.gov.  


Six spec buildings proposed for western Hancock County

Six more spec buildings have been proposed for the western part of Hancock County.

Carmel-based Lauth Property Group is looking to develop four properties near its 280,000-square foot building underway at County Roads 700 W and 350N.

Red Rock Investment Partners, LLC of Charlotte, North Carolina, wants to develop two spec buildings on about 46 acres west of 700W and north of 200N.

Read the full article from the Greenfield Daily Reporter here.

 


Hotline opens March 24 to help business and industry with Stay-at-Home Order

SOURCE: News release from the Office of Indiana Governor Eric J. Holcomb

Indiana will open a call center to field industry questions about Governor Eric J. Holcomb’s Executive Order 20-08, which provides for essential and non-essential business operations, infrastructure and government functions while the state observes a stay-at-home order from March 25-April 7.

The Critical Industries Hotline will open Tuesday at 9 a.m. to help guide businesses and industries with the executive order.

This center, reachable by calling 877-820-0890 or by emailing covidresponse@iedc.in.gov, is for business and industry questions only.

Please read Gov. Holcomb’s executive order and this FAQ page to clarify restrictions and acceptable activities and services under Monday’s Executive Order.

All of Gov. Holcomb’s Executive Orders can found here.


Indiana Launches New Export Assistance Program, Increasing Resources for Small Businesses

INDIANAPOLIS – Today, the Indiana Economic Development Corporation (IEDC) launched the Indiana State Trade and Export Promotion (IN-STEP) program to develop and expand export opportunities throughout the state, assisting Indiana small businesses with identifying, marketing and selling Hoosier-made goods in international markets.

“To remain competitive in today’s rapidly-evolving economy, state leaders are committed to ensuring that Indiana’s businesses and its people are able to connect to global markets,” said Indiana Secretary of Commerce Jim Schellinger. “The IN-STEP program will open up new opportunities for small businesses to elevate their goods in the international marketplace, and in turn, position their business and our state for success on the global stage.”

IN-STEP, which will support company growth and job creation by diversifying small businesses’ customer bases, offers eligible companies reimbursements of costs associated with export-related activities like participating in international trade missions, foreign trade shows and export educational programs, as well as other export services provided by the U.S. Department of Commerce. Total reimbursements under IN-STEP cover up to 50%, or $12,500, of small businesses’ export expenses.

The program, which is launching with the support of a two-year grant from the U.S. Small Business Administration (SBA), will provide up to $660,000 in funding for small businesses. Applications will be available on a rolling basis until all funds are distributed or up to August 31, 2021.

Qualifying criteria is as follows:

  • The business must be in operation for at least a year.
  • The business must be new to exporting or market expansion.
  • The business must be an Indiana Small Business Development Center (Indiana SBDC) client.
  • The business must be in accordance with SBA size standards, which categorize small businesses based on measures like industry, number of employees and annual receipts. Use the SBA’s Size Standards Tool to see if your company qualifies.
  • The business’ goods must be made in the U.S. or composed of at least 51% U.S. material.

“IN-STEP is an incredible tool for Indiana small businesses,” said SBA Indiana District Director Stacey Poynter. “With 95% of the world’s consumers located outside of the United States, the IN-STEP program supports the American Dream of small business ownership by expanding resources available for entrepreneurs to sell their Hoosier-made products and services around the world.”

IN-STEP will support and further the current export assistance available to small businesses through the Indiana SBDC, which provides expert guidance and resources to help companies create export plans designed to drive growth and position their business in the global marketplace. Additionally, the IEDC, in conjunction with the Indiana SBDC and SBA’s Indiana District office, will host a statewide event series to promote and encourage small businesses to apply for the program.

According to the U.S. Census Bureau, Indiana ranks in the top 15 exporting states, with businesses shipping products and goods such as automotive parts, pharmaceuticals and agricultural commodities to global customers. To build on this momentum, and increase Indiana’s competitiveness in the global economy, the state is committed to supporting initiatives like IN-STEP to ensure its businesses and people are connected to international markets. Additionally, the Indiana Global Economic Summit will convene global thought leaders, decision makers and trailblazers in Indianapolis on April 26-28 to share best practices and advance conversations on important topics like exporting.

Click here for more information about the IN-STEP program and its eligibility criteria and application process. Contact IEDCTrade@iedc.in.gov for additional questions.

About IEDC
The Indiana Economic Development Corporation (IEDC) leads the state of Indiana’s economic development efforts, helping businesses launch, grow and locate in the state. Governed by a 15-member board chaired by Governor Eric J. Holcomb, the IEDC manages many initiatives, including performance-based tax credits, workforce training grants, innovation and entrepreneurship resources, public infrastructure assistance, and talent attraction and retention efforts. For more information about the IEDC, visit www.iedc.in.gov.  


2019: Indiana Businesses Plan 27,000+ New Hoosier Jobs with Record-High Average Wages

INDIANAPOLIS  – Today, Governor Eric J. Holcomb announced the end of a third consecutive, record-breaking year for economic development in Indiana, with the Indiana Economic Development Corporation (IEDC) securing 296 commitments from companies to locate or grow in the state. Together, these businesses plan to invest more than $8.44 billion in their Indiana operations and create up to 27,137 new Hoosier jobs with average wages of $28.60/hour – marking the highest annual records for capital investment and average wages since the IEDC was established in 2005.

“I’m excited to announce yet another record-breaking year for economic development in Indiana as we work every day to ensure that Hoosiers have the best place possible to live, work and play,” Gov. Holcomb said. “As a state, we have worked tirelessly to create a nationally ranked, pro-growth business climate, and the results have solidified Indiana’s reputation as a global destination for business, creating high-quality career opportunities for Hoosiers in the process.”

These 27,137 new positions are expected to offer average wages of $28.60/hour, or nearly $59,500 annually, which is above the U.S. average wage and 21% higher than the state’s average wage of $23.01/hour (BLS, 2018). Moreover, of the 296 commitments made, 216 have committed average wages at or above the county average wage, and 56 are between 80-99% of the county average wage.

Businesses announcing the largest growth commitments, based on the number of new jobs or capital investment planned, in 2019 were:

Growth Trends: 

  • NEW TO INDIANA: The IEDC, in partnership with local communities, secured 80 commitments from businesses in 2019 to establish new operations in Indiana. Of these, 18 were new companies committing to locate startup operations in Indiana, and 62 were companies already established and headquartered elsewhere in the U.S. or around the world; together, they plan to invest $2.04 billion and create up to 9,141 new jobs in Indiana.Commitments include: Arizona Isotopes (Arizona-based, Miami County), Energizer Holdings Inc. (Missouri-based, Johnson County), Great Lakes Lamination (startup, Elkhart County), Grinds (California-based, Hamilton County), LifeNet Health (Virginia-based, Hendricks County), PerceptIn (California-based, Hamilton County), Sequel Wire and Cable Company (startup, Marshall County), Sims Bark Co. (Alabama-based, Jackson County), and Opus Packaging (Michigan-based, Boone County).
  • FOREIGN DIRECT INVESTMENT: Indiana is home to more than 1,030 foreign-owned business establishments that together support 203,000 Hoosier jobs – a number that continues to grow. In 2019, 38 foreign-owned businesses headquartered in 17 countries and territories committed to locating or growing in Indiana. Together, these firms plan to invest $3.1 billion in Indiana and create up to 6,022 new jobs, accounting for 22% of the total new jobs committed in 2019.Commitments include: BraunAbility (Sweden, Hamilton County), Cormo USA (Switzerland, Rush County), DOT America (Germany, Whitley County), Greenleaf Foods, SPC (Canada, Shelby County), Indiana Wheel Corporation (China, Marshall County), Ingram Micro Services (China, Hendricks County), Magna Powertrain (Canada, Delaware County), Marbach America (Germany, LaPorte County), Multimatic (Canada, Allen County), OSR Inc. (Japan, Bartholomew County), Saab (Sweden, Tippecanoe County), SDI LaFarga (Spain, Allen County), Sullair (Japan, LaPorte County), and Yamaha Marine Precision Propellers (Japan, Hancock County).
  • LIFE SCIENCES: In 2019, the IEDC secured 43 commitments (+60% from 2018) from life sciences companies to locate or expand in Indiana. Together, these businesses plan to invest more than $968 million (+89% from 2018) and create up to 3,631 new jobs (+94% from 2018) in Indiana.Commitments include: Abbott (Hamilton County), Catalent (Monroe County), Expert RN|MD (Marion County), Hill-Rom Services (Ripley County), LifeNet Health (Hendricks County), Mach Medical (Whitley County), Micropulse Inc. (Whitley County), Nexxt Spine (Hamilton County), and PharmaCord (Clark County).
  • MANUFACTURING: This year, 160 manufacturers committed to investing more than $5.3 billion to grow their operations here and create up to 14,433 new Hoosier jobs with average salaries above the state’s average wage. These job commitments, which account for 61% of the total 27,137 new jobs committed in 2019, represent growth plans across a number of manufacturing sub-sectors, such as automotive and RV, steel, food and beverage, hardwoods and machinery.Commitments include: Allison Transmission (Marion County), Auto Truck Group (Allen County), Cummins Inc. (Bartholomew County), Common Collabs (Starke County), Creative Works (Morgan County), Franke Plating Works (Allen County), GCI Slingers (Boone County), LightUpToys.com (Clark County), Magna Powertrain (Delaware County), Poynter Sheet Metal (Johnson County), SDI LaFarga (Allen County), and SoChatti (Marion County).
  • TECHNOLOGY: In 2019, 44 tech and tech-enabled firms committed to growing in Indiana, planning to create up to 3,851 new jobs (accounting for nearly 15% of the total jobs committed) with average annual wages exceeding $76,000 for new positions.Commitments include: ActiveCampaign (Marion County), Accutech Systems (Delaware County), Anvl (Hamilton County), LHP Engineering Solutions (Bartholomew County), MetaCX (Marion County), and Zotec Partners (Hamilton County).
  • SMALL BUSINESS: Along with these 27,137 committed jobs, the IEDC also works to support entrepreneurs and small businesses through the Indiana Small Business Development Center (SBDC) and Indiana Procurement Technical Assistance Center (PTAC). In 2019, the Indiana SBDC assisted in 406 new business starts and in the creation of 4,360 new jobs. Additionally, the Indiana PTAC registered 312 new clients and helped secure more than $162 million in federal government contracts that allowed businesses to grow and create 433 new jobs for Hoosiers.

IEDC incentives offered for these 296 commitments are conditional, meaning a company must create new jobs or provide workforce training in order to be eligible to receive incentives, and are based on new payroll for Hoosiers in order to protect taxpayer money while simultaneously attracting high-wage jobs and new investment to the state. The IEDC offered an average incentive of $0.21/new payroll dollar committed in 2019.

About IEDC
The Indiana Economic Development Corporation (IEDC) leads the state of Indiana’s economic development efforts, helping businesses launch, grow and locate in the state. Governed by a 15-member board chaired by Governor Eric J. Holcomb, the IEDC manages many initiatives, including performance-based tax credits, workforce training grants, innovation and entrepreneurship resources, public infrastructure assistance, and talent attraction and retention efforts. For more information about the IEDC, visit www.iedc.in.gov


Ambrose Breaks Ground on Four-Building Logistics Center in Mount Comfort

INDIANAPOLISAmbrose Property Group broke ground November 5, 2019 on the first of four buildings for e-commerce and logistics tenants along the Mount Comfort Corridor in Hancock County. The logistics center—located on 166-acres of land on the north side of West County Road 300N and west of North County Road 400W—totals a $78 million capital investment.

“As we continue to focus our business on industrial and e-commerce development, we are excited to be part of Mount Comfort’s visionary plan for thoughtful economic growth,” said Grant Goldman, executive vice president at Ambrose Property Group. “Strong community engagement is the foundation of every project we pursue, and we picked this land because it was earmarked for exactly this type of development. We look forward to partnering with area residents and business leaders to create a space that benefits the community.”

On Oct. 9, the Hancock County Council unanimously approved a 10-year tax abatement on all four buildings. The first building will be a 508,098-square-foot logistics center that is expandable to 660,378 square feet. The other three buildings Ambrose plans to develop will be a combination of large and smaller buildings to attract a diverse range of businesses. The plan is flexible to accommodate potential users and clients’ needs.

A report released in January from Washington D.C.-based Urban Land Institute – guided by the Mt. Comfort Corridor Regional Development Plan – identified several opportunities for optimizing growth in the corridor, including:

  • Upgrading Mount Comfort Road as a boulevard with landscaped rights-of-way, roundabouts at major intersections, high-quality lighting, consistent signage, and a trail system that provides opportunities to walk and bike.
  • Making stunning “first impressions” at town and corridor gateways with landscaping, public art and high-quality signage.
  • Focusing economic development efforts to take advantage of the area’s rural heritage and convenient location, including agri-tech, agri-tourism, animal biomedical and advanced manufacturing.

“The Mount Comfort Logistics Center is a key component of our proactive plan to prepare for the growth we know is coming to the Mt. Comfort Corridor,” said Randy Sorrell, executive director of the Hancock Economic Development Council. “We look forward to working with Ambrose to market this future-focused development to high-credit e-commerce and logistics tenants.”

Mount Comfort has experienced nearly 40% growth in the past 12 months. It has an extremely strong labor market with 276,425 households within a 25-minute commute. It is also located less than one mile from Interstate 70, a major east-west interstate highway.

The Mount Comfort Logistics Center is currently for lease through CBRE. For more information, contact info@ambrosepg.com or visit ambrosepg.com.