Published October 31, 2009 07:28 pm - The following are brief business items of statewide interest from business writer Gerry Dick:
Oct. 31: Gerry Dick Business Items
For The Herald Bulletin
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.