Business

Alcoa is celebrating the launch of construction of its state-of-the-art aluminum lithium casting plant.

The company held a groundbreaking this morning at its plant in Lafayette.

Alcoa’s president of Forgings and ExtrusionsEric Roegner says the expanded facility will allow the company to manufacture products that will revolutionize the airline industry.

The new venture will create approximately 75 full-time jobs, as well as approximately 150 additional jobs during the course of construction.

Production is expected to start in 2014.

As part of the groundbreaking, Alcoa donated 25-thousand dollars to the local chapter of the American Red Cross.

As many as 100 new jobs are coming to Lafayette due to an expansion at the Subaru of Indiana Automotive plant.

SIA is investing approximately $75 million over the next two years to increase production capacity. Construction is expected to begin this summer on a 52,000 square-foot build out of the body assembly section.

Executive Vice President Tom Easterday say there is strong customer demand for the Outback and Legacy models.

"It's fantastic, the growth we've had over the last three years in particular. The whole U.S. auto market is growing and we're growing with it. And Subaru, with the innovative products it's come out with, and we're coming out with a new engine here in Lafayette for the 2013 models, will continue to help the company grow."

Technology developers in Greater Lafayette are coming together to address local business issues.

Local non-profit Lafayettech is hosting a “Community Apps Hackathon” Saturday, May 5. It’s at its hub 580 N 36th St, Suite A, Lafayette.

Organizers are calling on participants to develop software using city data on building permits, code violations, and utilities.

Lafayettech President Nelu Lazar hopes the event will help integrate technology into local business efforts.

"What we want to see is more local startups, and encourage local people towards entrepreneurship and community development."

Lazar expects up to 20 developers at the event. It begins at 9 a.m. and concludes at 8 p.m. after judging the new apps.

Construction is beginning soon on a new manufacturing plant in Lafayette.

Heartland Automotive is building on Veterans Memorial Parkway so it can expand its business. The company makes car parts for Subaru and Toyota, and currently is on Kepner Drive in Lafayette.

Senior Vice President Ronan Miot says they’re running out of space at that facility.

"We want to be closer to our customers, to better service them as well. So, in the past couple years, we've expanded our production and we feel the need to expand and be closer to them is the right time, right now."

A foundation that pledged $100 million to Purdue will come up about $80 million short of its commitment.

The Alfred E. Mann Foundation for Biomedical Engineering is backing out of its agreement with Purdue on the Mann Institute on the West Lafayette campus. The entity helps commercialize life science technologies through early-stage funding and business guidance.

John Hertig is the executive director of the Institute. He says he was surprised when the Mann Foundation announced its decision about a month ago.

"We didn't think there was any reason to question our source of funding through the commitments made back in 2007, but we were also prepared, if something happened, we'd go on. That's what's going to occur."

A new facility in the Purdue Research Park will develop new technologies for the seed industry.

The Dow AgroSciences Seed Quality Control Lab was dedicated Tuesday.

Work at the 35,000 square foot greenhouse research center will aim to improve seed quality for crops.

Purdue Dean of Agriculture Jay Akridge  says the facility is important for the future of farming not only in Indiana, but around the world.

The Indiana Economic Development Corporation provided a $2.2-million grant to assist in the construction of the greenhouse.

The city of West Lafayette approved more than $300,000 in lease and tax abatement incentives to bring the facility to the area.

Indiana added 5,300 private sector jobs last month, and its unemployment rate dropped for the fourth straight month to 8.2% in March, its lowest level in more than three years.  It’s also the first time since last year that the state and U.S. unemployment rates were at the same level.

Ball State economist Michael Hicks says Indiana’s economy is showing good growth compared to other states, particularly those in the Midwest.

“In terms of employment numbers, in terms of the unemployment and just growth in labor force, so we’re as relatively healthy as you can get as a state.”