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Boone EDC Weekly
Greetings from the Boone EDC,
Welcome to Boone EDC Weekly.
As an organization, the Boone EDC is constantly researching and benchmarking to learn what our competing communities are doing to attract and retain business. Boone EDC Weekly is a compilation of noteworthy National and Indiana news about economic development trends. We will also post information about upcoming conferences, events, and
webinars that you may find interesting.
Boone EDC Weekly is another tool that you can refer to as a community leader to help Boone County continue to move forward in a positive manner.
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Fountain Trust Bank Invests in Downtown Darlington
When you walk into the new Fountain Trust Banking Center in Darlington you might think you are walking into a 1940's movie set.
A historic building that was unoccupied for decades and had been allowed to run down was purchased by the bank and upwards of $1 million was invested in the renovation, said Douglas Weisheit, business development officer. A new safe was brought to Darlington and a portion of the building wall was removed so the safe could be installed.
Click here to learn more.
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| Indianapolis rated the Most Affordable U.S. City to Buy a Home
Based on home prices, median income and mortgage rates, 10 cities have been identified by the National Association of Home Builders and Wells Fargo as the most affordable home prices in the nation.
Helping to keep prices down is the fact that there is so much room to grow. "There's an ample amount of land available for housing development any time there's a rise in demand for housing," said Kyle Anderson, a professor of economics at the Kelley School of Business of Indiana University.
Click here to learn more.
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| Creating Self-Sustaining Communities
"For all the implications of 'sprawl'-from job loss and economic decline, to alarming obesity, asthma rates, and segregation, to the loss of habitat and global warming, to our dangerous dependence on foreign oil-all of them are driven by one fundamental problem: the mismatch between where we live and where we work."
This statement, made by Shaun Donavan, secretary of the U.S. Department of Housing and Urban Development (HUD), in a White House blog in June 2010, depicts the serious issues facing the United States and other countries caused by decades of impractical and inefficient development. Sprawl, both urban and suburban, has had extremely negative consequences, aggravated by impractical zoning regulations and development trends that isolate residential, office, entertainment, and retail districts.
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Workers Lacking Skills Hinder Manufacturing Gains
Paul Bonin has no problem getting enough orders to keep his South Bend, Indiana, factory busy. What he can't find are enough qualified employees to work on the assembly lines.
"The biggest challenge we face is a skilled labor force," said Bonin, president of Bertrand Products Inc., which makes transmission parts for helicopters. He said he sees opportunities to fill more orders, "butt I can't take the work because I can't find the workforce."
The inability to locate employees with the right abilities is holding back manufacturing, the industry that led the U.S. out of the worst recession since the 1930s, just as the economy shows signs of cooling. The number of factory jobs waiting to be filled climbed to 326,000 in March, the most since November 2007, according to data from the Labor Department.
"The manufacturing sector is clearly showing signs of a skills mismatch," said Dean Maki, chief U.S. economist at Barclays in New York. "It is likely to weigh on manufacturing growth."
Click here to learn more.
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| Where the Jobs Are
Despite high unemployment companies say they find it hard to hire people. Unemployment has reached record levels in many countries. Yet more than a third of employers around the world are still having trouble filling vacancies, according to a ManpowerGroup survey of nearly 40,000 employers in 41 countries. Workers in skilled trades (electricians, plumbers, bricklayers and so on) are in shortest supply, followed by engineers and sales people.
Talent shortages are most acute in Asia, particularly in Japan where an ageing population is exacerbating the problem. Only in France has the proportion of employers struggling to find appropriate talent increased significantly since last year (from 20% to 29%). In Italy, by contrast, it has halved from 29% to 14%. Overall, employers are less concerned about the impact of skills shortages than they were in 2011. This may be because companies are becoming more comfortable conducting business in an uncertain environment where talent shortages persist.
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Hicks: State Unemployment Rate a 'Good Sign'
A Ball State University economist believes Indiana's unemployment rate is a sign of optimistic long-term prospects for the state. Center for Business and Economic Research Director Mike Hicks says the 7.9 percent unemployment rate is lower than forecasts had estimated, but he cautions there are warning signs, including the fact that Indiana lost a sizable portion of its labor force in April. |
Boone County Cash Mob
A cash mob is a way to support a locally owned business with a little home-grown economic stimulus. Here's how it works. At a specific place and time, people are invited and encouraged to show up and spend $20 or more and also to invite their friends to do the same.
Our Next Cash Mob will be Saturday, June 2 from 1:00-3:00 p.m. at Akard True Value Hardware in Zionsville!
Support the Cash Mob on Facebook
Follow the Cash Mob on Twitter
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Boone EDC Video Blog
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Zionsville Economic Development Video
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Meeting Dates:
Boone County Commissioners: - June 4 @ 9 a.m. Boone County Council: - June 12 @ 8:30 a.m. Boone County APC: - June 6 @ 7 p.m. Boone County RDC: - June 15 @ 2 p.m. Advance Town Council: - June 11 @ 7 p.m. Jamestown Town Council: - June 5 @ 7 p.m. Lebanon City Council: - June 11 @ 7 p.m. Thorntown Town Council: - June 18 @ 7 p.m. Whitestown Town Council: - June 12 @ 6:30 p.m. Zionsville Town Council: - June 4 @ 7 p.m. Boone EDC Board of Directors: - June 28 @ 4 p.m. Boone EDC Executive Committee:
- June 14 @ 7:30 a.m.
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