Category: Business News Bits

Plastic Container Manufacturer Lake Count Investment

MERRILLVILLE – Polycon Industries, a manufacturer of plastic containers, announced plans today to expand its operations in Indiana, investing $15 million and creating up to 100 new jobs by the end of 2017.

“Indiana is a national center for manufacturing, with one in five Hoosiers working for companies like Polycon Industries,” said Governor Mike Pence. “That’s especially true in Northwest Indiana, as companies continue …

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HRP Construction New Ownership

SOUTH BEND –Matthew D. Cain is the new owner and president of HRP Construction Inc. in South Bend, Indiana. Earlier this month, Cain purchased all outstandingshares of the company and assumed the presidency.

Cain has held several positions with HRP over the last 20 years, most recently serving as vicepresident. He joined HRP shortly after receiving a bachelor’s degree in building construction…

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Purdue Students Launch Agricultural Drone Startup

WEST LAFAYETTE – Aerial Agriculture LLC, a startup company launched by Purdue University students, aims to revolutionize the agricultural industry by building drones in-house to capture multispectral images of entire crop fields. This technology could allow farmers to reduce excess fertilizer and input costs while simultaneously increasing yields.

Aerial Agriculture uses specialized cameras to convert images into valuable vegetation indices that represent crop health and …

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New Electric Vehicle Charging Station

The Northwestern Indiana Regional Planning Commission (NIRPC), NIPSCO, and South Shore Clean Cities unveiled the Commission’s first public electric vehicle charging station. The project is part of NIPSCO’s IN-Charge Around Town program, which aims to make electric car charging opportunities more accessible to drivers in northern Indiana. IN-Charge Around Town offered incentives to help cover the up-front costs of public charging stations for host locations, …

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St Catherine Holds Donation Event

EAST CHICAGO – The St. Catherine Hospital Auxiliary held its annual Tea & Donation event to present more than $131,000 to scholars and various services throughout the hospital.

It was the second largest donation the auxiliary has made over a span of 56 years: Since 2008, more than $1 million has been raised by the auxiliary. The $138,000 fund raising record was set in 2015.…

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Acquisitions Drive Patrick Industries Growth

ELKHART – TheElkhart-basedcompanyPatrick Industries Inc. (Nasdaq: PATK) is reporting second quarter 2016 net income of $16.7 million, which is up from $12.1 million during the same quarter last year. Chief Executive Officer Todd Cleveland says the 38 percent increase reflects positive momentum at both the wholesale and retail levels.

Cleveland says the impact of recent acquisitions has also contributed to the company’s …

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Acquisitions Help Drive Banks

MUNCIE and MICHIGAN CITY –Two Indiana banks are reporting record profits for the second quarter. Muncie-based First Merchants Corp. (Nasdaq: FRME) is reporting net income of $20 million, compared to $18 million in the same quarter last year. Michigan City-based Horizon Bancorp (Nasdaq: HBNC) is reporting net income of $6.3 million, up from $4.7 million during the second quarter of 2015.

Each has announced …

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Purdue Patents Rank Among Top Universities

WEST LAFAYETTE and BLOOMINGTON –Purdue University has been recognized as one of the top institutions in the world for the number of U.S. utility patents granted in 2015. Areport fromthe National Academy of Inventors and the Intellectual Property Owners Association determinedPurdue patents rank among top universities as 15th worldwide.

The report says Purdue was issued 101 U.S. utility patents last year, …

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Indiana Scores Mixed CNBC Rankings

INDIANAPOLIS –An annual business climate report brings mixed news for Indiana. The state ranks 16th overall in CNBC’s “America’s Top States For Business: 2016,” down three spots from last year. However, Indiana is ranked first in the nation in cost of doing business and infrastructure. The state lagged in areas including quality of life and work force.

Utah topped this year’s list, after being …

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PNW Joins National mManufacturing Initiative

HAMMOND – Purdue University Northwest’s Center for Innovation through Visualization and Simulation (CIVS) has been selected to become part of a national manufacturing network designed to fuel industry growth and innovation.

As part of the new Smart Manufacturing Innovation Institute (SMII), recently announced by President Obama, the Purdue Northwest CIVS research center joins nearly 200 partners representing academia, industry and non-profits across more than …

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