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At this weekend's U.S. Conference of Mayors in Indianapolis, leaders from cities big and small are brainstorming ways to collaborate on economic growth, rather than competing.

South Bend Mayor Pete Buttigieg says that approach is already catching on in Indiana.

Outside a session with the mayors of Boston and New York, Buttigieg said his city of 100,000 is just big enough to have all the problems of a major metro area:

 

Wikimedia Commons

A federal trade board has sided with the American steel industry this week, ruling that China harmed U.S. companies with unfair business practices.

But, U.S. steelmakers won't get the all-out ban on Chinese imports they requested.

The ruling is a victory for Pittsburgh-based U.S. Steel, which asked the International Trade Commission to recommend a ban on Chinese steel earlier this year.

Iker Merodio / https://www.flickr.com/photos/ikermerodio/4673992149

A Purdue University economist says he doesn’t think Indiana will feel much of an impact after voters in the United Kingdom elected to leave the European Union.

Jerry Lynch is a former interim dean of Purdue’s Krannert School of Management and says the state and its businesses will have to take a wait-and-see approach.

“It’s not going to be dire," Lynch says. "It has the potential, depending on the kind of agreements that get negotiated, of slowing down world growth in the economy. And if world growth slows down, Indiana is affected by it, there’s no question at all.”

Indiana Business Research Center

 

Japan's largest steel company, Nippon Steel, will spend $50 million and create 70 jobs at a new plant to produce wiring for cars in Shelbyville.

When it opens next year, it'll join an already large Japanese automotive sector in the state -- which houses more Japanese businesses than anywhere else in the country.

 

Japan is also Indiana’s biggest foreign investor, supporting almost 54,000 jobs. Many are in manufacturing.

Annie Ropeik / Indiana Public Broadcasting

    

Small towns across Indiana are trying modernize their economies and hold onto younger residents. But where do you start? With jobs? Quality of life? Or somewhere else entirely?

Making that decision can be complicated, as residents found out recently in Orange County.

 

It's home to Lost River Market & Deli, which looks a little out of place in tiny, rural Paoli. This organic food co-op might fit in better in Bloomington or Louisville, Kentucky, each just an hour away.

Lynn Friedman / https://www.flickr.com/photos/lynnfriedman/18263113926

The number of unemployed Hoosiers decreased last month, the first time Indiana’s jobless rate has declined since September of last year.

The unemployment rate went down two-tenths of a percent in May, falling to five percent.

That’s the largest one-month decline in more than a year. 

Bureau of Economic Analysis / U.S. Department of Commerce

Indiana led all the other states in GDP growth for the fourth quarter of 2015.

The state’s gross domestic product rose 3 percent – with manufacturing and agriculture driving most of that increase.

 

The GDP measures how much was spent on goods and services produced in-state. Indiana’s late-2015 increase from $338.7 million to $341.2 million in GDP was top in the nation, with neighboring Ohio coming in second.

GE Plans To Close Bloomington Plant, Cut 300 Jobs

Jun 16, 2016
Rafael Castillo / https://www.flickr.com/photos/miggslives/

GE Appliances announced Wednesday it plans to close a Bloomington plant that employs 329 people. The decision comes after GE says demand for side-by-side refrigerators made at the facility declined 76 percent since 2008.

The closure is subject to negotiations with the union, which could start this week. If GE and the union reach an agreement, the company estimates about 94 percent of the affected employees will be eligible for retirement. All employees will receive a benefits package.

During union negotiations last year, workers asked for stronger plant closing benefits.

Kauffman Foundation

A new report ranks Indianapolis last in the nation for start-up job growth.

 

The Kauffman Foundation puts out annual indices measuring entrepreneurial activity in the nation's 40 largest metropolitan areas. But this is its first report on annual growth at existing start-ups.

The 2016 report ranks Indianapolis last for jobs added at start-ups in their first five years of operation.

A Silicon Valley tech company is relocating to Carmel, in what state officials are touting as a win for Indiana's business-friendly climate.

 

San Mateo, Calif.-based Determine uses cloud technology to help companies store and manage contract data from start to finish. Its clients include AOL, Kellogg's and Sony Music Entertainment.

 

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