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| CEO Job Description |
Added: 6/27/2008
Download Article: click here
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| Kokomo Named Most Affordable U.S. Housing Market |
Added: 5/12/2008
Source: CNN Money
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The housing slump has its benefits; affordability improved in many metro areas across the nation during the first three months of this year.
According to a report from Wells Fargo Bank and the National Association of Home Builders (NAHB), about 44 percent of all homes sold in the United States during the first three months of the year were affordable to families earning the median household income for the area they lived in.
NAHB President Brian Catalde, said, "This is up from 41.6 percent of homes sold in the final quarter of 2006, and is likely the result of lower house prices as well as the very favorable financing conditions that existed at the beginning of this year."
The Indianapolis area, where the median home cost $116,000, was the most affordable major U.S. market for the period, but joining it at number one this time was the Youngstown, Ohio metro area ($78,000). In both places the index judged affordable 89.0% of the homes sold.
A smaller market area, Kokomo, Indiana ($93,000), led all cities; 93.5% of all homes sold there could be bought by median income households. Also highly affordable were Lansing, Michigan ($100,000, 91.1%) and Lima, Ohio ($78,000, 90.4%).
The top 13 markets were all located in the Midwest region. Cumberland, Maryland ($81,000, 86.8%), representing the South, was the highest ranked city in the rest of the United States. Elmira, New York ($69,000, 86.7%) was close behind. The most affordable western city was Pueblo, Colorado ($115,000, 76.3%).
California dominated the list of most unaffordable cities with just 3% percent of Los Angeles residents able to buy the median home, priced at $525,000. In nearby Santa Ana ($610,000, 4.4%) and Salinas ($569,000, 4.6%), conditions weren't much better.
The New York metro area, where the median home cost $500,000, was the least affordable place outside California. It recorded an affordability index score of 6%. Miami ($288,000, 10%) trailed all other southern cities and Chicago ($248,000, 46.5%) brought up the rear in the Midwest.
In addition to earnings and home prices, Wells Fargo and NAHB factor in interest rates in compiling their index, which stayed low throught the year's first three months, ranging from an average of 6.14% for a 30-year fixed to 6.3%, according to Freddie Mac figures.
If the housing slump continues and deepens, which many experts expect, and interest rates stay under 7 percent, housing affordability may improve throught the balance of the year. |
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| Stephens Machine Expanding |
Added: 1/30/2008
Source: City of Kokomo
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A Kokomo-grown company plans to invest more than $1 million in a new facility, which will allow the company to retain 38 jobs and create 10 more.
Stephens Machine, Inc. will build an office and manufacturing facility on South Berkley Road, to build and distribute steel fabrication products.
The city of Kokomo plans to assist the project by allowing Stephens Machine to phase in property taxes on their new investment. The Kokomo Common Council took the first step toward that at Monday night’s council meeting. A public hearing will follow at the council’s February 11 meeting.
Kokomo Mayor Greg Goodnight said the city is committed to assisting home-grown businesses that plan to stay and expand in Kokomo. He said that in an increasingly competitive environment, Kokomo can not underestimate its local businesses, or assume those companies will always stay here.
“Our neighboring counties understand the importance of growing jobs through small businesses,” Goodnight said. “These 10 new jobs could have gone to Miami or Tipton County. But (Stephens Machine owner) Greg Stephens wants to stay in Kokomo, and we’re glad we can help make that happen.”
Department of Development Director Debra Cook said that in addition to the 10 new jobs, citizens should not overlook the 38 jobs that will be retained through the project.
“Retaining jobs is just as important as creating jobs, if not more so,” Cook said. “If a company is retaining jobs, that means the company is a successful part of the Kokomo economy, paving the way for future expansion. Retaining jobs today is the best way to create jobs tomorrow.”
The project has strong support from council members. Council President Mike Kennedy said it represents a powerful combination of job creation and new investment.
“I’m a long-time proponent of property tax abatements, as long as they are used correctly,” Kennedy said. “That’s clearly the case here. This abatement will result in retained jobs, created jobs, and a $1 million investment on a vacant property.”
Kennedy said that investment will drastically increase property taxes on the land.
Stephens Machine plans to build on five acres that are currently vacant. At 2006 property tax levels, that land would bring in only $2,340 in property taxes over the next ten years.
By contrast, following Stephens Machine’s investment, the property would bring in more than $99,000 in property taxes over the next 10 years, also at 2006 levels.
Kennedy said if the state passes property tax reform, the exact numbers may change. But no matter what happens, he said, the project will represent a drastic increase in the property’s tax levels.
If approved, the agreement between the Council and Stephens Machine will also require the company to assist future economic development efforts, by donating 10 percent of their savings to the Kokomo-Howard County Economic Development Corporation, or a successor organization.
Goodnight said all these factors led him to support the resolution.
“With the retained jobs, the new jobs and the increase in property taxes, this is a big win for the city, the company and Kokomo taxpayers,” Goodnight said.
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| Howard County Businesses Recognized by Governor |
| Added: 10/31/2007
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(KOKOMO)—Earlier this year, Kokomo’s Coca-Cola Bottling Co. celebrated its one-hundredth birthday. Also this year, Mast Furniture and Gifts in Greentown turned one-hundred-and-one years old. As two of the longstanding businesses in the state of Indiana, both businesses have won the Governor’s Century Business Award. The award recognizes Indiana businesses that have operated for at lease one-hundred years and have demonstrated a long history of community service.
While the Coca-Cola Bottling Co. shifted from bottling to product distribution in 2005, it has remained a pillar of the Kokomo community for a century. Owner and President E.P. Severns is a board member for a number of local organizations, including the Kokomo-Howard County Development Corporation and Central Bank. His son, Craig Severns, is the General Manager of the Coca-Cola Bottling Company. In addition to his duties with the company, he is a board member of the United Way of Howard County, Salin Bank and Partners in Education. Both E.P. Severns and Craig Severns serve on the Hoosier Beverage Association Board of Directors.
Craig Severns states, “We are very proud to celebrate the 100th year of our franchise. We want to thank our employees and our former employees. They have made this possible.”
Mast Furniture and Gifts has supported numerous local organizations, such as the Greentown Glass Museum, the Main Street Association, and the Greentown Historical Society. It is also a family-operated business. Earl C. Mast joined the business as a partner in 1906. Current owner Mary Mast Pier entered the family business sixty-one years ago upon marrying Earl Mast’s son, Mark.
Mary Mast Pier claims that “it takes a lot of hard work, devotion and love to last one-hundred years.”
This November, Mast Furniture and Gifts will host their fifty-first Holiday Open House. This event will take place on November 2 through November 4, welcoming customers and friends throughout the state.
The Coca-Cola Bottling Co. and Mast Furniture and Gifts will both be officially awarded with their Governor’s Century Business Awards at a ceremony on November 14, 2007.
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| Decision Time for Organizations |
Added: 8/17/2007
Source: Kokomo Tribune
Link: click here
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By KEN de la BASTIDE
Tribune enterprise editor
In or out.
That’s what a committee seeking to consolidate all economic development activities in Kokomo and Howard County wants seven organizations to decide by the end of September.
During a Thursday meeting at Inventrek, Mike Stegall said the goal is to reach a consensus on the model and have an implementation strategy in place by the end of the year.
Stegall said the committee wanted the board of directors for the seven organizations to meet and decide on whether or not they will be part of the merger discussions.
“It is an aggressive goal to have a consensus reached by the end of the year,” he said. “This is a big job to do and a lot of decisions to be made.”
The plan is to appoint a transition board to work with a mediator in bringing all economic development efforts under an umbrella organization.
The groups being asked to merge into the group include Urban Enterprise Association, Kokomo-Howard County Development Corp., Kokomo Downtown Association, Small Business Development Center, Kokomo-Howard County Chamber of Commerce, Inventrek and the Howard County Convention Visitors Bureau.
To date, only the Convention Visitors Bureau has indicated it doesn’t want to be a part of the merger.
Paul Wyman, a member of the committee, said the CVB has been represented at the committee meetings.
The CVB has been included in the organizational structure, he said.
“We will go forward once it is determined which organizations decide to join the merger,” Stegall said.
A transition staff will be hired to mediate the details of the merger process, he said.
Stegall said the amount needed for the transition staff or where the funding would be derived from was not known. He estimated the cost at between $50,000 and $75,000.
The transition board would consist of two representatives from each economic development group and one each from Indiana University Kokomo, Ivy Tech Community College of Indiana, Realtor Association of Central Indiana and the Community Foundation.
Wyman said the process started in 2005 when a group of community leaders wanted to develop a comprehensive economic development strategy and use Economic Development Income Tax funds for economic development projects.
An outside consultant hired in 2006 recommended a full merger as best for the community, he said.
“This was one of the most comprehensive and inclusive studies conducted in Howard County to date,” Wyman said.
Kokomo and Howard County currently is spending $3 million per year on economic development efforts.
The intent is to channel all public and private funds spent on economic development through the umbrella group and to coordinate efforts.
“Right now the public sector contributions are disproportionate to that from the private sector,” Stegall said. “We are hoping to bring more private sector money into the equation and shift the balance.”
Laura Sheets explained the new group would focus on attracting new business, help existing businesses with development, quality-of-life issues and operations.
The basic structure would be a board of directors and president.
“We looked at the functions performed by each organization,” Sheets said. “All those functions are included in the model.
“The model is not set in stone,” she said. “It doesn’t provide strategic directions. That will be determined once the board is in place.”
Committee member Jeff Cardwell said the transition staff will mediate the details of the merger with each organization.
“The staff will be there to address concerns and questions of each organization interested in participating,” he said.
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| Chrysler Group Awards $10,000 in Scholarships to Kokomo Students |
Added: 6/18/2007
Source: DaimlerChrysler Corporation Fund
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Kokomo, Ind., Fri, Jun 15, 2007 -
Chrysler Group has awarded $10,000 in scholarships to Kokomo-area students for the 2007-2008 school year. Ten students each received $1,000, which will support their pursuit in post-secondary education at two- and four-year colleges, universities, or vocational/technical institutions. Three of the students, currently attending college, also received scholarships last year.
In 2006, the DaimlerChrysler Corporation Fund established the Technical Training Scholarship fund along with the Kokomo/Howard County Development Corporation (KHDC). Both organizations selected the winning students.
They are:
Brian Carver, Kokomo High School
Jacqueline Cooney, Kokomo High School
Melissa Daily, Northwestern High School
Simonne Gaskins, Kokomo High School
Joseph Hinze, Kokomo Area Schools @ Home
Thomas Kelley, currently attending Rose-Hulman Institute of Technology
Todd Powell, currently attending University of Northwestern Ohio
Stephen Sehr, Kokomo High School
Steven Vande Lune, currently attending Rose-Hulman Institute of Technology
William Wilson, Western High School
The scholarship recipients were honored this week at a reception in Kokomo, Ind.
The students, who are pursuing engineering disciplines or a career in an automotive-related technical trade, were chosen by a scholar-selection committee. The scholarships are available to high school graduates under 21 years of age living in the county. The fund provides up to 10 scholarships a year in $1,000 increments. Examples of eligible educational programs include computer science, auto repair, skilled trades and mechanical engineering.
"This is another way that our company supports the community," said Brian Glowiak, Vice President and Secretary of the DaimlerChrysler Corporation Fund. "Helping these students achieve their educational goals will benefit both them and the community in the future."
Kokomo is the home of four DaimlerChrysler plants: Kokomo Transmission, Kokomo Casting, Indiana Transmission Plant and Indiana Transmission Plant 2.
Now in its 54th year, the DaimlerChrysler Corporation Fund is the primary source of charitable grants made by DaimlerChrysler Corporation. The Fund annually supports hundreds of charitable organizations with an emphasis on community growth and enrichment, arts and culture, education, and youth development programs throughout the United States and, increasingly, the world. The Fund's Good Neighbor, Good Citizen® programs in 2006 included operating support for the United Way for Southeastern Michigan.
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| Business incubator, Purdue helping to grow 'culture of entrepreneurship' in |
Added: 6/14/2007
Source: Purdue School of Technology
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NEWS RELEASE
June 12, 2007
KOKOMO, Ind. — Frontline Logic, a company in Kokomo's Inventrek Technology Park, is a business that focuses on organizing computerized data and keeping records as accessible and easy to manage as possible for its clients.
But to create customized, user-friendly data-management solutions, the company's employees need highly technical skills. That's where Purdue University has been able to give Frontline Logic a big boost.
The Purdue College of Technology at Kokomo awarded its first bachelor's degrees in computer and information technology in May 2006, and since then, three of the six program graduates have been hired as full-time employees at the company.
"Our staff must be technically savvy and possess a wide variety of skills in the areas of software development, systems integration, data management and computer networks," said Brent Seaman, founder and director of Frontline Logic. "Purdue's curriculum provides foundation skills which coincide with our business needs, so it's been a wonderful experience being able to work with so many capable students and keep them from leaving the area and the state."
Frontline Logic was launched by Seaman in 2002. The company focuses on providing imaging services for document management and processing of records, transactions and projects; security systems to protect company data and information systems; and Web structure capabilities for management of online content, publishing and updating procedures. In addition to its Kokomo office, it maintains an office in Anchorage, Alaska.
When Seaman started the company, he had two employees. It has since grown to 14 employees, five of whom are either Purdue graduates or Purdue students working full-time at the company while also working toward their computer and information technology bachelor's degrees.
Seaman said Frontline Logic furthers the education and knowledge base of new hires through staff development planning and customized training opportunities. The customized training relies on the employee's existing skills, but focuses on Frontline's technology niche and structured service delivery approach.
"Having Frontline Logic employ our students is a win-win for both Purdue and the company," said Jeffrey Griffin, an associate professor of computer and information technology at the College of Technology at Kokomo. "The students get an opportunity to see that a startup company can grow to a larger organization, and they get a chance to apply what they've learned in the classroom.
"Also, the company gets considerable benefit because the students' curriculum in the program matches so well with what Frontline Logic does. It's really showing the students that if you're a highly skilled worker, you don't have to leave Kokomo to find good employment opportunities."
Thomas Capozzoli, director of the College of Technology at Kokomo and a professor of organizational leadership and supervision, said that he sees the partnership between Frontline Logic and Purdue as the start of a new way of thinking.
"The culture of entrepreneurship in Indiana needs to be encouraged, and this is a great example that success stories are possible," he said. "The 'timeclock mentality' of grooming students to work for a big company is still prevalent in this area and in other areas in the region, such as Muncie and Anderson. While there is nothing wrong with that, we want to open students' minds to all the career options that are available.
"What we're doing is showing students that they don't have to leave Indiana to find good opportunities."
Jan Hendrix, general manager of Inventrek, said that providing students and the community with a tangible example of entrepreneurship at work can go a long way toward showing students that entrepreneurship is possible anywhere.
"While north-central Indiana still relies heavily upon the large employers, what we're doing is proving that there are options other than working for a large corporation or leaving Indiana," Hendrix said. "Those large employers are still vitally important to our area, but it's always a good idea to diversify the economy as much as possible. That way, if a downturn comes about, the community's economy can weather it much better."
For recent Purdue graduates and current students, the experience at Frontline Logic is serving as a valuable supplement to their education.
Jon-Eric Eliker, who graduated with a computer and information technology bachelor's degree from Purdue in 2006, said one of the best things he's learned while working at Frontline Logic since 2003 is how to work directly with clients.
"Since we're a small company, managing clients and selling yourself is an important part of our jobs," he said. "Unlike a large corporation where clients are assigned to us, we have to work for every client we get and make sure to please them so they'll stay with us."
Eliker said he received excellent preparation from Purdue for both the technical and people skills parts of his job, but working in the field at Frontline Logic has strengthened those skills. He said that team members are given the flexibility to work around their Purdue class schedules while maintaining client service and meeting assigned deliverable schedules.
"Programming is a commodity that anyone can be trained to do, but we need people who can think, interact and communicate with clients," he said. "At Frontline Logic, I've been given the freedom to develop these skills in ways I wouldn't at a larger corporation."
Inventrek Technology Park, Frontline Logic's home, is a high-tech business incubator founded in 2003. The Kokomo Howard County Development Corp., in collaboration with Purdue University and Indiana University, Kokomo, established Inventrek to encourage the development of high-tech businesses in Kokomo and Howard County.
Writer: Kim Medaris, (765) 494-6998, kmedaris@purdue.edu
Sources: Thomas Capozzoli, (765) 455-9218, capozzol@purdue.edu
Brent Seaman, (765) 854-0739, brent.seaman@frontlinelogic.com
Jeffrey Griffin, (765) 455-9268, griffin0@purdue.edu
Jan Hendrix, general manager of Inventrek, (765) 854-0443, jhendrix@inventrek.org
Jon-Eric Eliker, (765) 437-7247, jon-eric.eliker@frontlinelogic.com
Related Web sites:
College of Technology at Kokomo: http://www.tech.purdue.edu/kokomo/
Inventrek Technology Park: http://www.inventrek.org/
Frontline Logic: http://www.frontlinelogic.com
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| U.S. 31 bypass gets green light |
Added: 5/31/2007
Source: Kokomo Tribune
Link: click here
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Lt. Gov. Skillman on hand for announcement
By SCOTT SMITH
Tribune staff writer
It probably wasn’t a coincidence that Lt. Gov. Becky Skillman wore a green jacket to officially give the U.S. 31 Kokomo bypass a green light Friday.
After 16 years of planning, making plans, building consensus, paying consultants and surveying land, the Indiana Department of Transportation is finally ready to move ahead with the $344 million project.
“This is a major milestone. I joined INDOT in 1959, and for many of the years since then, U.S. 31 through Kokomo has been a problem,” said INDOT deputy commissioner Bill Rinard during a press conference at Kokomo Municipal Airport. “I didn’t think we’d ever see a resolution.”
In her hand, however, Skillman held the final approval for the massive project, signed Monday by Robert F. Tally Jr., Indiana Division administrator for the Federal Highway Administration, approving the final route for the eastern bypass around Kokomo.
“For those of you who routinely fight traffic in that section through Kokomo — and that would be us today — today is a day to celebrate,” Skillman said.
“The 15 signals that disrupt the free flow of traffic will be soon be gone. Dozens of dangerous intersections that contribute to higher-than-normal accident rates will be a thing of the past,” she said.
Funding for the project will come courtesy of the 75-year lease the state signed with the consortium that will run the Indiana Toll Road, better known as the Major Moves program.
Over the next 10 years, the state is expected to spend $1 billion of the $3.85 billion collected from the lease arrangement on the U.S. 31 corridor between South Bend and Indianapolis.
A federal Record of Decision, like the one Skillman presented for Kokomo Friday, has already been signed for the congested stretch of U.S. 31 in northern Marshall and southern St. Joseph counties, and that stretch will be the first area to see actual construction.
Kokomo will be next, with construction slated to begin in 2009.
INDOT spokesman Andy Dietrick said final design work will begin immediately on the Kokomo corridor, which will begin two miles south of Ind. 26 and end one mile north of the U.S. 35 junction (450 North), a distance of 12 miles.
The state has budgeted between $22 million and $26 million for land acquisition on the project, and Dietrick said the state’s fast-track goal is to have the acquisition completed by next year.
Local property owners in the affected corridor could begin receiving purchase offers from the state within a few months, although the “actual acquisition could still be a year away,” Dietrick said.
Detailed maps of the corridor have been available for months on the project Web site, www.us31kokomo.com, and give a fairly accurate description of where the actual road will go.
The corridor shown superimposed on the aerial maps is about 400 feet wide. According to the Record of Decision summary, the actual road will be 154 feet wide, not counting any ditches on either side of the road. One project consultant said Friday the actual road corridor will probably be between 250-300 feet wide.
INDOT will hold public meetings over the next two years to discuss the highway’s design and receive input from citizens.
Skillman said the new bypass is a major economic development initiative for the entire state.
“This new highway will save time and allow economic development to flourish,” Skillman said. “Northern and central Indiana will become even more attractive to businesses who want to establish or expand their operations. Good transportation infrastructure will help us keep the good paying jobs we already have, and allow us to add thousands of new ones.” |
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| Jan Hendrix Named KHDC President |
| Added: 2/1/2007
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January 8, 2007
Kokomo/Howard County Development Corporation (KHDC) announces the appointment of Jan Hendrix as Interim President. She will also continue as the General Manager of Inventrek Technology Park. She will replace Greg Aaron, who has accepted a position as Executive Director of Resource Development for Ivy Tech Community College. Laura Sheets, KHDC Board Chair, explained: “Since the local economic development organizations are currently assessing the most efficient organizational structure for this community, the Board felt that it was not a good time to begin a search for a permanent President. Jan Hendrix has done an outstanding job in the development of Inventrek Technology Park. The Board of Directors has full confidence that she will carry out her expanded duties with the same enthusiasm and proficiency that she has brought to Inventrek.”
Jan Hendrix has more than twenty years of experience in workforce and economic development. In 1995 she was named as the first Director of the Kokomo Downtown Association. There she coordinated activities related to downtown infrastructure design, economic restructuring and promotion of downtown development. Prior to that, her work with the North Central Indiana Private Industry Council included leading a transformation of the organization’s structure and culture. Hendrix graduated from Ball
State University with a bachelor’s degree in marketing.
Contact: Jan Hendrix
Kokomo/Howard County Development Corporation
700 E. Firmin Street
Kokomo, IN 46902
(765) 457-2000 |
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| Aaron Leaving KHDC for Ivy Tech Position |
Added: 2/1/2007
Source: Kokomo Tribune
Link: click here
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Added: 1/11/2007
Source: Kokomo Tribune
Published: November 28, 2006
The economic development leader takes fundraising role
By SCOTT SMITH
Tribune staff writer
After six years of watching the Inventrek business incubator go from vision to reality, Kokomo-Howard County Development Corp. president Greg Aaron is moving on.
Aaron announced Tuesday he’ll accept a position as executive director of resource development at Ivy Tech Community College. In his new job, Aaron will lead Ivy Tech’s fundraising efforts in a six-county service area known as Region 5.
“It was the opportunity,” Aaron said when asked why he took the job. “I certainly wasn’t looking for a new job or a new career. I’ve had opportunities in the past several years to accept other jobs that would have required me to leave the community, and that’s certainly something I’m not going to do.”
At Ivy Tech, Aaron will be reunited with several people he worked closely with during a 25-year career with the Kokomo city administration. Starting out in a labor position, Aaron eventually worked his way up as a grant writer, assistant superintendent of the wastewater plant, and with different departments in a variety of urban renewal roles.
Aaron was widely known as the city’s first director of development; he was appointed to that economic development role by former Mayor Jim Trobaugh in 1998.
Ivy Tech chancellor Steve Daily praised Aaron as a community leader and friend of Ivy Tech.
“Greg has been a good friend and supporter of the college for many years,” Daily said. “He has served the college well as a board member, helping us to make important decisions in a rapid growth period. I know that he will provide excellent leadership as we work to secure essential funding that will answer the needs of students in this region.”
Aaron said the chance to work with Daily, a former Kokomo mayor, was too good to pass up.
“Steve Daily is an outstanding leader, and a large part of his team is former city employees that I used to work with,” Aaron said. “It’s almost like going back to work with my family.”
Ivy Tech has played a key role in the success of Inventrek, which over the past two years has created 57 new jobs in Kokomo. Ivy Tech’s health sciences program serves as an anchor tenant of the Inventrek building, a former Delphi Corp. administrative building.
According to an Ivy Tech press statement, Aaron will join Director of Resource Development Miriam Thomas and Ivy Tech’s development team. The school cited Thomas for playing an integral role in the Ivy Tech Peru project and a number of other initiatives.
Daily said Aaron could soon play a key role in a possible regionwide capital projects campaign.
Ivy Tech Region 5, which now has about 3,800 students spread across campuses in Kokomo, Logansport, Wabash and Peru, is expecting a 50 percent increase in enrollment over the next four years, and adding facilities and staff is a distinct possibility.
Aaron said he intends to continue aiding the KHDC and the Inventrek incubator as a KHDC board member, but is uncertain whether he’ll remain on several other boards when he leaves the KHDC Jan. 5.
He said it’s personally important to continue his involvement with the organization, calling Jan Hendrix, Inventrek’s general manager, and Cathy Irick, the organization’s administrative assistant “just like my family.”
The KHDC board and other area economic development organizations are still mulling over a recent report calling for the consolidation of the numerous organizations into a single umbrella organization, but Aaron said the report had no effect on his decision to move to Ivy Tech.
“I think there’s a lot of potential with that, even though it may not happen immediately,” Aaron said. “I’m excited about the potential of a new paradigm for economic development in Howard County.”
Aaron received a bachelor’s degree in business administration from Indiana Wesleyan University in 1997 and a graduate certificate in the IU Kokomo Public Affairs Graduate Program in 2003.
In addition to his work with the KHDC and Inventrek, Aaron is also a member of the Ivy Tech Community College Region 5 Board of Trustees, Partners in Education of Howard County, the City of Kokomo Revolving Loan Fund Board, Workforce Investment Board Economic Development Committee, North Central Indiana Economic Development District Board, Workforce Innovation in Regional Economic Development Core Group (WIRED Grant), Indiana University Kokomo School of Public and Environmental Affairs Advisory Board and the Kokomo Downtown Association Board.
“As a member of the board of regional trustees, I have first-hand knowledge of the goals and aspirations of Ivy Tech Community College,” said Aaron. “I share Steve and his staff’s vision and passion for Ivy Tech’s advancement. I’m look forward to this new challenge and starting a new phase of my career.”
Scott Smith may be reached at (765) 454-8569 or via e-mail at scott.smith@kokomotribune.com
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| City Lands New Steel Company |
Added: 2/1/2007
Source: Kokomo Tribune
Link: click here
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Published: July 15, 2006
Hynes-Kokomo will open first Indiana operations
By JOHN DEMPSEY
Tribune business writer
Citing the work force, location and efforts of local economic development leaders, Hynes Industries announced today that Kokomo will be the site of its first Indiana operations.
Hynes-Kokomo LLC, a spinoff of the Youngstown, Ohio, steel product business, has purchased property at 1817 W. Defenbaugh St. from Stephens Fabrication.
Stephens will be moving its operations to the former IDRA building, 1600 N. Ann St.
New business opportunities led Hynes to look to Indiana. Kokomo won the bid over several other cities in north central Indiana.
“Kokomo’s productive work force, good location, and a well-developed network of industrial support shops were key factors in our decision,” William Bresnahan said in a news release issued by Jason Hester, Kokomo’s director of development. “Beyond that, local leaders really bent over backwards to make sure that we chose Kokomo over any other option.”
Mayor Matt McKillip, Kokomo Howard County Development Corp. President Greg Aaron and Hester visited Youngstown to meet with officials of company, which began operations in 1925.
“We are very pleased that Hynes has chosen Kokomo,” McKillip said. “Through last year’s trip and our team’s many follow-up efforts, we have demonstrated that we in Kokomo are serious about helping businesses meet their goals.”
A privately held company, Hynes-Kokomo LLC will specialize in custom roll-formed steel products for the trucking and other industries.
According to Hynes’ Web site, its roll formed products are used for truck trailers as well as automotive components, appliances, outdoor furniture, hardware, rail cars, drawer slides, elevators and garage door components.
“Hynes has opportunities in Indiana. There is a customer in Indiana who they were wanting to be closer to,” Hester said. “They first approached us as they were looking at different communities in this part of Indiana.”
There are two major trailer manufacturers located in Indiana. The main production facility of Wabash National Corp. is located in Lafayette, while Great Dane Trailers has manufacturing facilities in Brazil and Terre Haute.
While details of the incentive package are still being finalized, Hester said they include a $10,000 grant for job training and a business acceleration grant worth $20,000. That grant will help the company move equipment into the Kokomo facility.
Hynes-Kokomo expects to invest more than $6 million in equipment and plant improvements. Initially, it will employ 20 to 25 workers, with another 25 projected to be hired over a two-year period.
Aaron said KHDC contributed $8,000 and Stephens’ Realtor, Paul Wyman of Wyman Group, added $5,000 to the deal. Those funds will help pay Stephen’s moving expenses.
Beyond the addition of 50 jobs over a two-year period, the deal also helps the city retain another 20 jobs at Stephens Fabrication, according to Aaron.
“By adding our contributions along with the city’s generous offer to Hynes, we’re helping both Hynes and Stephens, ultimately resulting in 70 jobs,” said Aaron.
Plans call for Stephens to move from the Defenbaugh location to Ann Street within 45 days, and Hynes-Kokomo will move into the building. That turnaround is important to Hynes.
“Stephens has closed on the property for their new location. Hynes-Kokomo will move in as soon as it can,” Hester said. “Hynes is looking for a very quick setup. Within 60 days of moving in, they want to be operational.”
The building sits on 10 acres of land that then-PSI Energy Inc. donated to KHDC in 1996. Stephens bought the property from KHDC in for $70,000 and built the 35,000 square-foot building. It has been up for sale since July 15, 2004.
Hester said the company expects to bring a few people from Ohio, “but the vast majority will be local hires.”
“They aren’t ready to hire yet,” he said. “Their plan is to put an advertisement out when they are ready to take applications.”
According to its Web site, Hynes Industries deals in roll formed products, steel and rolled wire, as well as FlexAngle®, a reusable, heavy-duty, slotted framing system.
John Dempsey may be contacted at (765) 854-6739 or by e-mail at john.dempsey@kokomotribune.com
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| Consolidation Plan Gets First Boost |
Added: 12/3/2006
Source: Kokomo Tribune
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By SCOTT SMITH
Tribune staff writer
The push to consolidate Howard County’s economic development forces received a first nod of encouragement last week, when the Kokomo-Howard County Development Corp. board voted unanimously to buy into the effort.
The decision came one day after author Donald T. Iannone formally presented a three-month study on cooperation between local economic development groups, a presentation attended by numerous influential local business leaders.
“The board is committed to working in pursuit of the viability of the plan, they’ve embraced the concept, and the board will work to provide whatever they can to help other groups come together and work toward the goal,” KHDC president Greg Aaron said Friday.
Iannone is recommending a drastic reduction in both the number of boards and organizations, a consolidation which would leave the area with a single umbrella organization in charge of all areas of economic development.
The study also recommends the city and county governments — the source of 78 percent of the current funding for the various economic development groups — collaborate to create a $2 million Strategic Investment Fund to support worthy economic development projects.
The city and county should also enter into a three-year funding agreement for the new umbrella organization and work together to establish criteria for investing economic development funds, Iannone wrote.
Kokomo Mayor Matt McKillip, one of the primary forces behind the effort, said Friday he was encouraged by the KHDC decision.
One complaint of local business leaders, reflected in Iannone’s study, is the belief that too many organizations are competing for limited funding and volunteer effort from the community’s private industry, McKillip said.
He reflected on comments made by Haynes International CEO Francis Petro at Thursday’s presentation, in which Petro told Iannone that “We’re getting flailed to death by not only these nine organizations, but also by a multitude of charitable organizations.”
“I think he made a very good point — there are just too many mouths to feed,” McKillip said.
With Friday’s decision, the KHDC became the first local organization among the nine organizations Iannone studied to voice public support.
In addition to the city and county governments, Iannone also included the Urban Enterprise Association, KHDC, Kokomo Downtown Association, Small Business Development Center, Kokomo-Howard County Chamber of Commerce, Inventrek, and Howard County Visitors Bureau in his study.
Last December, when the idea of studying consolidation was broached in a city administration press release, Community First Bank President Mike Stegall, a proponent of reorganization, said city and county officials “owe it to the people who pay the bills to see if we can build a better mousetrap.”
“Hopefully everybody would like to be part of the process, to see if there’s a better model,” Stegall said. “The question is whether we could get a bigger bang for the buck.”
Whether all nine organizations will buy in is still in question, however.
Friday Stegall and Stegall’s co-leader in the effort, local Realtor and Howard County Councilman-elect Paul Wyman, said the Chamber of Commerce board is expected to take up the issue at its January meeting.
Chamber president Rick Hamilton said last month his organization’s board initially declined to participate in the consolidation study, when it was initially believed forming a consolidation plan would be the sole aim of Iannone’s work.
But after the study was broadened to include how economic development dollars are spent locally, the chamber board agreed to participate, he added.
“I’m sure no matter what happens, the chamber will participate and work with this,” Hamilton said. “Even if we’'re not part of an overall group, we’ll work with whatever group comes out of this.”
Scott Smith may be reached at (765) 454-8569 or via e-mail at scott.smith@kokomotribune.com
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| Kokomo Earns Coveted "Five Star Community" Ranking |
Added: 12/1/2006
Source: KHDC
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If you owned a mid-sized (100-500 employees) company that is growing rapidly, and you needed to find the best place to locate a new manufacturing or distribution facility, or perhaps a back office operation, where would you look? Everyone knows about Dallas, or New York, or Los Angeles, but what about places like Kokomo? How would you sort them out, particularly as places to live and work?
Expansion Management Magazine, a monthly business magazine for executives of companies that are actively looking for a place to expand or relocate their facilities within the next one to three years, recently published its 3rd annual "Quality of Life Quotient” ratings of the 329 metropolitan statistical areas (MSA) throughout the United States. The magazine rates metro areas as a way of providing its readers with a basis for comparing the type of living and working environment they are likely to encounter in various communities around the country. top
The Top 33 percent of the MSAs earned coveted "Five Star" or "Four Star" distinctions. "If your criteria for a great place to live begins and ends with accessibility to world class theater and opera, then this is probably not the list for you," said Bill King, Chief Editor of Expansion Management magazine. "However, if your idea of a great place to live and work is based upon a reasonable cost of living, affordable housing, low crime, excellent transportation access, good public schools, proximity to community colleges and universities, an educated work force, low taxes, and other concerns you as a potential employer might have, then our Quality of Life Quotient is worth a look."
Expansion Management magazine is mailed to more than 45,000 CEOs, vice presidents, directors and other executives of companies that have indicated they are considering expanding into new geographic areas. "We compared all 329 MSAs according to nearly 50 statistical criteria and came up with a ranking that most people can identify with," said King. The most heavily weighted category in the QLQ addresses the ability of families and individuals to meet their financial needs and desires. Median family income, per capita income and per capita disposable income levels were combined with cost of living adjustments, state and local tax burdens, family and individual poverty levels, and unemployment rates. A significant part of the American Dream involves home ownership, or at least the ability to afford to live in a decent house or apartment. The next most heavily-weighted category ranked the MSAs on housing affordability for median-income families, as well as fair market rents for three- and four-bedroom rental housing units.
But it's not all about money. Things like peace of mind are also important to most families and employers. "When it comes to quality of life from an individual or company perspective, low crime rates provide a sense of security, an expectation that a person won't fall victim to personal injury or property loss," said Les Gramkow, research editor for Expansion Management. top
Education is also an important factor in the rankings, which include the quality of local public schools, community colleges and universities, since these institutions are the cornerstone of the community's work force. Other factors include transportation access, unemployment rates, and the proportion of l8-to-34 year-olds in the population. All told, there were 47 factors that went into the final overall rankings.
For a copy of the Quality of Life Quotient 2001 article, go to Expansion Management's Web site at www.ExpansionManagement.com. |
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| Hidden Labor Market Study Completed |
| Added: 11/29/2006
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The Kokomo/Howard County Development Corporation recently participated in a Hidden Labor Market Study for the North Central Indiana region. The study was in response to requests from existing and potential employers about workforce availability in the region. The Howard County survey area includes Carroll, Cass, Clinton, Grant, Howard, Miami and Tipton Counties.
While the unemployed may be considered a potentially good source of employees, the type of quality employer that Howard County is attempting to attract typically does not rely on the unemployed to staff an operation. The study was commissioned to quantify the extent to which UNDEREMPLOYMENT exists in the area, as well as to document the cost, skills, experience, and education of that hidden workforce.
The study presents data quite different from published government statistics, which show wages and employment for the entire workforce, most of who have no interest in changing jobs. The study includes data only on people in the area who might change jobs and would, therefore, be potential candidate workers for a new or existing employer. As opposed to average wages, this study quantifies the number of those workers available for an employer in various wage ranges.
The study indicates that existing or new employers in the region can attract from an additional labor pool of 23,100 if they consider the underemployed population in the region. Underemployed is defined as existing workers who may possess the skills, education and experience to qualify for a better job and who are willing to take a better job if offered. The results of this assessment also determined the labor shed contains approximately 4,100 unemployed people who are seeking work. In addition, the survey indicated there are roughly 4,100 people neither employed nor seeking work that might re-enter the workforce for the proper job.
The underemployed workers possess the skills, experience, and education to qualify them for the pay rates, at which they would take a new job, ranging from less than $7.00 to over $25.00 per hour. About 25% of those workers would take a new job for $10.03 per hour or less. At the upper end, the 25% most qualified and experienced would command more than $16.93 per hour. Over 30% of the 23,100 underemployed individuals have some college experience and almost 15% have earned a college degree.
As this data relates solely to those underemployed, it will vary from data representative of the population as a whole. top
The study suggests that while the number of underemployed workers identified in the area is accurate (as are their skills, experience, education, and costs), all of those individuals would not be acceptable candidates for an employer. Their previous work records, stability, integrity, intelligence, appearance, and other factors could not be considered in the report.
Interviews were also conducted with senior management and human resource professionals from local companies in each of the counties in the survey area. The area workforce received high marks for productivity. This is consistent with the fact that many of the companies interviewed stated that their local operation compared favorably with operations in other locations in terms of profitability and production. This is indicative not only of good management but also of a very productive workforce.
Workforce Development Strategies, Incorporated and its Regional Economic Development Committee of which the KHDC is a member, commissioned the Hidden Labor Market Study. The results of this study are being released in order to promote a better understanding of the shared challenges in the North Central Indiana region.
Workforce development and workforce availability are an essential ingredient to the regions economic vitality. In the fast-changing, technology-driven economy, workforce issues must be an integral part of the conversations about how to position North Central Indiana for sustainable economic growth. |
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| Technology Center gets $50,000 in Grant Funding |
Added: 7/5/2006
Download Article: click here
Source: Kokomo Tribune
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Just wait.
That's the message from officials at the Kokomo/Howard County Development Corporation regarding a $50,000 enterprise grant.
The grant, administered by the U.S. Department of Agriculture, provides incentives for business expansion, job creation and investment in rural areas of Indiana.
At a ceremony last Friday, USDA Rural Development State Director Robert White presented Greg Aaron, President of the KHDC, with a check for the grant.
The affair, attended by about 25 members of the local and state business communities, was held at KHDC headquarters on Firmin Street.
"The (KHDC) is extremely grateful to the USDA for this $50,000," said Aaron, adding that his organization will chip in another $10,000 toward the effort. "With the availability of these funds, we will now also be able to assist them with start up costs. This grant is an example of the invaluable community, state and national support the KHDC has received to make the Kokomo Technology Center a reality."
Aaron said a board of directors consisting of some 8 to 10 people will be set up over the next few weeks to oversee the guidelines, qualifications and operating procedures of a revolving loan fund. Typically, businesses benefit by using the grant funds for expenditures like equipment puchases and other associated costs, all under the auspices of the business incubator "nurturing" concept, Aaron said.
Fund recipients must be affiliated with the KHDC. Distribution of the funds will be on a first-come, first-served basis, Aaron said.
"Entrepreneurs have creative, high-tech ideas for new businesses," Aaron told those gathered. "The Kokomo Technology Center (which operates independently of the KHDC and housed in the same building) already provides on-site facility services for our emerging businesses. Examples of these services include coaching and mentoring services, shared office and technology equipment, shared conference rooms, and now with the support of the USDA, we will now also be able to assist them with financial assistance."
When the current funds are used up, the KHDC will be eligible to apply for the same grant, Aaron pointed out.
Said White during the presentation: "With these funds, the KHDC will be able to assist numerous small businesses who, in the past, have had very few options for alternatives to traditional bank financing."
The KHDC markets Kokomo and the surrounding area for business attraction and retention.
Last week's award wasn't the first received from the USDA, Aaron noted. A $70,000 technology grant went toward computer and teleconferencing equipment puchases, he said.
For more information on how to qualify for grant funds, call the KHDC at 457-2000.
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| Chrysler Grant Supports Technology |
Added: 2/11/2006
Download Article: click here
Source: Kokomo Tribune
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| Kokomo Technology Center Assessment of Interest, Potential and Resources |
Added: 1/3/2006
Download Article: click here
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| Howard County Hidden Labor Report |
Added: 1/3/2006
Download Article: click here
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