An unnamed buyer has signed a letter of intent to purchase Delaware Machinery in Muncie. Meanwhile, work at the facility, currently in receivership, is increasing.

“Continued conversations with Chrysler’s risk management group resulted in them being comfortable (enough) with receiver management to allow their purchasing to release approximately $3.5 million worth of purchase orders and to re-instate blanket purchase orders which had been canceled,” [receiver Dennis] Kebrdle said. “The work schedules on these purchase orders extend into February 2011. One Chrysler buyer commented ‘this is the most business I have ever placed with a company in receivership.’”

Employment at the factory at 720 S. Mulberry St. continues to climb back, reaching about 85 compared to 61 in February.

The company continues to receive request for qualifications from the likes of Rolls Royce, Parker Hannifin and Pratt & Whitney.

Kokomo Gas and Fuel has filed a petition to consolidate with NIPSCO.

Senior housing developments continue to surface in Fort Wayne.

The Indianapolis Sheraton will undergo a $12 million makeover starting in November.

Hoosier farmers should see some extra green this year.

Farm income in Indiana is likely to be 20 percent ahead of last year, which was the second-highest farm profit year in a decade. Nationally, farm profits are expected to be 24 percent above 2009.

A 20 percent increase in farm profits would add $508 million to the state’s economy.

The recession has pushed down prices in other sectors – fertilizer and energy, for instance – which means it costs less to produce an acre of crops, said Purdue’s Christopher Hurt, professor of agricultural economics.

In addition, prices for many crops, especially wheat and corn, have increased as drought or floods in other parts of the world reduced yields, he said.

U.S. agricultural exports are expected to break the $100 billion mark this year for only the second time ever.

Caterpillar Logistics Services is planning to open a distribution center in Greenwood in December, potentially creating 140 jobs.

Graycor Industrial Constructors is choosing between two Northwest Indiana sites to consolidate some operations.

The Indiana Chamber of Commerce has named Terre Haute Community of the Year.

Ray Kasmark, Business Manager of International Brotherhood of Electrical Workers (IBEW) Local #697, will serve as the Lake Area United Way (LAUW) Community Campaign Chair for 2010-11.

With over 200,000 area residents each year benefitting from a program, agency or initiative funded by Lake Area United Way, local leaders say Kasmark is the right person at the right time to lead this year’s community campaign.
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The Greater Lafayette Chamber reports that the region has added more than 25 new businesses and $430 million in investment.

That’s an additional $90 million more than the investments made in all of 2009, said Jody Hamilton, director of economic development at Greater Lafayette Commerce.

The report shows Greater Lafayette is on the right track toward economic recovery, Hamilton said.

“There’s certainly more work that needs to be done with the recovery, but for the most part, it’s definitely a positive outlook in the direction that our community is heading,” she said.

Chrysler and Kokomo have resolved their property tax differences.

U.S. Steel has gotten the go-ahead to build a new coke substitute facility in Gary.

The Evansville CVB has officially endorsed a proposed sports complex.

Indianapolis is examining a a $1.2 billion deal to privatize the city’s parking meters.

A private company pays to install hundreds of electronic parking meters. Customers pay a higher rate for the first time in 35 years but now can pay with credit cards. The city collects $400 million over 50 years to repair crumbling streets and sidewalks.

Everyone wins, right?

The pitch from Mayor Greg Ballard’s administration is compelling. But a proposed deal to sell the city’s parking meters to Dallas-based Affiliated Computer Services Inc. has the city giving up more in the long run than is immediately apparent in the talking points.

Delaware County is pursuing alternatives to a shovel ready site.

Justin Norman keeps trying to win over union workers in his bid for GM’s Indianapolis stamping plant.

Some Elkhart residents want a local recycling operation shut down.

Another fight over Indiana’s liquor laws is brewing for the 2011 legislative session.

National Guard training in Terre Haute injected about $1.1 million into the local economy.

Delphi Automotive LLP plans to expand its Kokomo Corporate Technology Center (CTC) site, which houses the world headquarters of the company’s Electronics & Safety division and one of its largest and most advanced technical centers.

The plans for the CTC site will allow Delphi to consolidate its engineering team into a locally centralized Delphi facility. To enable this consolidation, Delphi plans to construct a new lab building and a utility facility to support the operations on the CTC property southwest of the Lincoln Road and Goyer Road intersection.

Delphi is finalizing plans for the CTC site and the Morgan Street facility that will result in an investment of approximately $25 million.
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Need a great idea to promote your brand and build your business? Then join Diversified Marketing Strategies today at the Avalon Manor in Merrillville for the 2010 Idea Show.

There is no cost to attend. More than 30 national suppliers will be on hand to present the latest in promotional and wearable items, new and unique trade show giveaways and holiday gifts for client appreciation, and safety incentives for clubs, sports and organizations.

The 2010 Idea Show runs from 10 a.m. to 3 p.m.

A new Courtyard by Marriott opens Wednesday in Fort Wayne.

IU has received $5 million to boost neutron research.

A trio of events is expected to drive hotel and restaurant business in Indianapolis this weekend.

Residents of the Chicagoland area and Great Lakes region may be breathing easier as early as this fall thanks to a federal grant that will partially fund work by a Northwest Indiana nonprofit to improve air quality over Lake Michigan.

The U.S. Environmental Protection Agency Region 5 Midwest Clean Diesel Initiative has awarded a grant of more than $630,000 to South Shore Clean Cities Inc. The nonprofit organization will manage a $1.2 million project in which older, diesel-powered marine vessels will be retrofitted with newer, more efficient and environmentally friendly technology. The remaining cost will be funded by a match from a private organization.
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Finding work in Indiana’s manufacturing plants was tough even before the recent Great Recession wiped out thousands of jobs, but some parts of the state have fared better than others, a new study from Ball State University reveals.

Indiana’s Manufacturing Employment Trends, from Ball State’s Center for Business and Economic Development (CBER), finds that from 1973 to 2007, counties suffering the most job losses were clustered in east central and northwest Indiana.

The top 10 counties for job losses included Lake, Marion, Madison, Allen, Vanderburgh, Grant, Howard, Delaware, St. Joseph and LaPorte. These areas suffered heavy job losses and plant closings because of a heavy concentration of facilities focusing on machinery, electronics, computers, electrical appliances and auto components, according to the study.
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U.S. Housing and Urban Development (HUD) Secretary Shaun Donovan today awarded nearly $312 million to 13 states to invest in efforts to reduce the human, physical, and economic toll of future disasters.

Indiana received the sixth-largest allocation at $23,208,985.

The grants are provided through HUD’s Disaster Recovery Enhancement Fund (DREF) and are intended to encourage states to undertake activities and long-term strategies that focus on reducing damages from future natural disasters. The DREF was established to support the long-term recovery following dozens of natural disasters in 2008.
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