Alex Brown

Jeffersonville Hotel Sold

Virginia-based Sotherly Hotels Inc. (Nasdaq: SOHO) has completed the sale of the Sheraton Louisville Riverside Hotel in Jeffersonville. The company says the deal is valued at $11.5 million.... Read More

Indiana Statehouse DM 2

State Revenue Continues to Beat Projections

Indiana revenue exceeded the most recent projections for the month of January. The Indiana State Budget Agency says General Fund revenues totaled more than $2 billion last month, which was 2.1% higher than the December 2021 forecast and more than 11% higher than the same month in 2020.... Read More

Akyumen Genesis Convention Center Rendering

Gary Inks Settlement Over Failed Akyumen Project

The city of Gary has reached a settlement in its lawsuit against California-based Akyumen Industries Corp. Our partners at The Times of Northwest Indiana report the city's redevelopment commission will regain control of the Genesis Convention Center and Ivanhoe Gardens properties, where Akyumen had planned to establish its new headquarters and a manufacturing facility to produce 5G smartphones.... Read More

Hoosier Nonprofit Ordered to Pay Back Wages

A Jeffersonville-based nonprofit was ordered to pay more than $150,000 in back wages to its employees with disabilities after an investigation by the U.S. Department of Labor. The DOL says New Hope Services should have paid the workers the full minimum wage because it failed to meet the requirements to pay a sub-minimum wage.... Read More

Patrick Industries Reports Big Profit Jump

Elkhart-based Patrick Industries Inc. (Nasdaq: PATK) is reporting full-year net income of $225 million, up from $97 million the previous year. President Jeff Rodino says market conditions across the manufacturer's platform have remained strong despite challenges from the pandemic.... Read More

Elkhart Tooling Company Acquired

Peak Toolworks, a manufacturer of diamond and carbide cutting tools headquartered in Jasper, has acquired Elkhart-based Tooling Concepts Inc. Financial terms of the deal were not disclosed, though Peak says it plans to further invest in the Elkhart region.... Read More

Steel Dynamics Terre Haute Facility Interior

Steel Dynamics Adding 200 Jobs

Fort Wayne-based Steel Dynamics Inc. (Nasdaq: STLD) is looking to add 200 employees in northeast Indiana. The company says the additions will support ongoing growth in the region.... Read More

INDOT Commissioner Stepping Down

Governor Eric Holcomb has announced Joe McGuinness will be stepping down as commissioner of the Indiana Department of Transportation. McGuinness, who was appointed to the role in 2017, is leaving to become chief executive officer of a new local government infrastructure management consultant company.... Read More

Tamm: Hoosier Restaurants Still Facing Recovery

New data from the Indiana Restaurant and Lodging Association shows many Hoosier restaurants are still struggling to recover from the pandemic. Chief Executive Officer Patrick Tamm says 48% of restaurant operators throughout the state report their sales volume in 2021 was lower than pre-pandemic levels in 2019. Tamm adds many restaurants nationwide have still not received grants from the nearly $29 billion Restaurant Revitalization Fund, even though their applications were approved.... Read More