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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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Home Prices Fall at Slowest Pace Since '10
Residential real estate prices fell in April at the slowest pace in more than a year, adding to signs the U.S. housing market was firming.
The S&P/Case-Shiller index of property values in 20 cities dropped 1.9 percent in April from the same month in 2011, the smallest decline since November 2010, after decreasing 2.6 percent in the year ended March, the group said today in New York. The median forecast of 28 economists in a Bloomberg News survey projected a 2.5 percent drop.
A turnaround in prices is a necessary step toward luring more buyers and sustaining demand for housing, which is starting to stabilize after precipitating the last recession almost five years ago. Record-low borrowing costs, due in part to Federal Reserve efforts to hold down long-term rates, may keep promoting home sales in the presence of an 8.2 percent unemployment rate.
Click here to learn more.
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| Maine Capital Investment Program Seeks Rural Jobs
Maine Senate Republicans recently announced an increase in the cap to tax credits for certain rural development projects in the state's new $250 million New Markets Capital Investment Program. The program, which could cost taxpayers $95.7 million, was included in last year's budget and modified in this year's supplemental budget. It mirrors the federal New Markets Tax Credit program, but is funded through the state budget.
The state program, established Jan. 1 and administered by the Finance Authority of Maine, allows Community Development Entities to apply for the tax credits, which are awarded on a first-come first-served basis, provided they meet criteria established in the federal program.
Click here to learn more.
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| High School Students Pitch Business Plans
Fifty high school seniors and juniors from 22 Indiana counties will present their business plans Friday (June 29), the final day of the sixth annual Purdue Research Park Entrepreneurship Academy.
The live presentations provide the best opportunity to get photographs and video footage of students as they pitch high-tech business cases to a panel of judges. Students also are available to speak with reporters about their experiences during the week-long academy.
The Purdue Research Park Entrepreneurship Academy is a week-long program that introduces high school students to the world of entrepreneurship, guided by local business leaders and Purdue Research Park experts. Students also experience campus life at a leading research university.
Click here to learn more.
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Skjodt-Barrett Foods to Hire
Skjodt-Barrett Contract Packaging LLC announced that it will add an additional 150 jobs at its Lebanon, Ind. facility by the end of summer due to increased customer demand for its products. Skjodt-Barrett manufactures organic and non-organic baby food, fruit snacks and fruit smoothies in spouted pouches for a variety of global infant nutrition brand leaders.
The North American market for foods in spouted pouches is rapidly growing, and will likely reach one billion pouches by 2014. Infant nutrition, fruit snacks, fruit smoothies, sauces, toppings, beverages are just some of the products being sold in pouches. Pouches used by Skjodt-Barrett have childproof caps, as well as built-in straws from which children can sip the product out of the pouch.
Inside Indiana Business Article
Indy Star Article
Fox 59 Video Segment
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| Treasury Offers Guidance to Help Jump Start QECB
The 12-page guidance, in the form of a question-and-answer model, comes months after the administration and lawmakers highlighted several challenges to the program and requested clarification to encourage more use.
A Qualified Energy Conservation Bond (QECB) is taxable security and can be issued either as a bond for which an investor gets a tax credit or as a direct-pay bond in which the issuer would receive subsidy payments from the federal government equal to 70% of interest costs.
A Treasury official said the guidance addresses the definition of a "green community program" and how to measure whether the financing would result in a reduction of energy consumption in publicly-owned buildings by at least 20%.
It does not, however, address how resources are allocated. Current law says states with local government populations greater than 100,000 must divide up the total resources into many pieces. Some market experts said this has been a significant challenge to the program.
To clarify the 20% energy savings rules, the Treasury Department said issuers may measure the reduction by using measurement units such as single publicly-owned building, one or more building system components of one or more publicly-owned buildings, or a combination.
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US Cold Storage Plans to Hire
United States Cold Storage, located in the Lebanon Business Park, says that that the company plans to hire 40 additional employees by the end of July. Adam Ashley, General Manager of the Lebanon facility said, "We are experiencing growth from our current customers and new customers resulting in this need for additional employees. This is great news for USCS and the Lebanon community."
Dax Norton, Executive Director of the Boone County Economic Development Corporation said, "US Cold Storage continues to surpass expectations. They have been a great community partner and we're ecstatic that they continue to invest in their operations here in Lebanon."
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Boone County Polo Event
The 9th Annual Boone County Polo Event will take place on July 14, 2012 at the Hickory Hall Polo Club located north of Zionsville in Whitestown, Indiana. Gates open at noon, with the match beginning at 1 p.m. Proceeds from the annual fundraiser will benefit the Witham Health Services Foundation, which supports hospital projects in the Boone County community, as well as Boone County Senior Services, which provides life sustaining and enriching services for older adult residents.
General admission is $20 per car, or polo boxes can be purchased by local businesses, clubs and individuals/families. Polo box registration forms are available at www.booneseniors.org or by contacting 765-482-8112.
Boone County Polo Facebook Page
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YOU'RE INVITED!
The Boone EDC Annual Meeting sponsored by Metronet and Skjodt-Barrett Foods will be on Wednesday, July 18 from 7:30 a.m. - 9:30 a.m.
The Boone EDC will be raffling an iPad sponsored by Hachette Book Group with the proceeds benefiting Boone County Councilperson, David Rodgers and his family. A continental breakfast with pastries, fruit, and juice will be provided free of charge and sponsored by Edward Jones. This meeting is open to the public and there is no cost to attend.
 
Click Here to Learn More.
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Meeting Dates:
Boone County Commissioners: - July 2 @ 9 a.m. Boone County Council: - July 10 @ 8:30 a.m. Boone County APC: - July 4 @ 7 p.m. Boone County RDC: - July 20 @ 2 p.m. Advance Town Council: - July 9 @ 7 p.m. Jamestown Town Council: - July 3 @ 7 p.m. Lebanon City Council: - July 9 @ 7 p.m. Thorntown Town Council: - July 16 @ 7 p.m. Whitestown Town Council: - July 10 @ 6:30 p.m. Zionsville Town Council: - July 2 @ 7 p.m. Boone EDC Board of Directors: - July 26 @ 4 p.m. Boone EDC Executive Committee:
- July 12 @ 7:30 a.m.
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