Business Facilities - February 2008 - (Page 45)

BUSINESS REPORT Indiana By Bill Trüb Indiana: Sending Tech Messages New grants and jobs bolster Indiana’s diverse technology industry. I n February, the Indiana Economic Development Corporation (IEDC) began accepting proposals for its commercialization enhancement program, an initiative that provides up to $350,000 in grant money to businesses participating in the federal government’s Small Business Innovation Research and Small Business Technology Transfer programs. These programs allow small, hightech businesses to have a role in the research and development efforts of the U.S. government. “By encouraging the development of innovations in Indiana, we are commercializing new technology that has the potential to translate into more high-paying jobs for Hoosiers,” says Nathan Feltman, secretary of commerce and CEO of the IEDC. The most recent company to take advantage of Indiana’s commercialization enhancement program is Indianapolis-based engineering firm Wolf Technical Services, Inc.— exactly the type of high-tech business the grant program is designed to assist, according to Feltman. The company is in the final stages of developing a new restraint system for military aircrew members. “The grant enhancement program has enabled us to accelerate the development of our restraint system and pursue early commercialization opportunities,” says Mark E. Lewis, vice president of Wolf Technical Services. “These funds will allow us to complete final-stage environmental testing, flight testing, and additional development work to make the device production-ready.” The commercialization enhancement program is funded by Indiana’s 21st Century Research and Technology Fund, which has directly invested more than $65 million in 51 high-tech companies since 2006. In January, the 21st Century Research and Technology Fund awarded Comfort Motion Technologies (CMT) a $1.085 million grant to further develop, test, and commercialize its Vehicle Seat Multiposition software. The Anderson, IN-based software research and design firm hopes its product will provide ergonomic benefits to vehicle drivers by making automated seat changes to redistribute the driver’s body weight. “With the 21st Century grant, CMT will continue product refinement with the Rose-Hulman Institute INDIANA FAST FACTS Population (2006): 6,313,520 Largest Cities (2006): Indianapolis, 785,597; Fort Wayne, 248,637; Evansville, 115,738; South Bend, 104,905; Gary, 97,715 Targeted Industries: Advanced manufacturing, transportation and distribution logistics, life sciences, IT, insurance, motorsports Key Incentives: Economic Development for a Growing Economy Program, Certified Technology Parks Program, The Hoosier Business Investment Tax Credit, Venture Capital Investment Tax Credits, Headquarters Relocation Tax Credit EMPLOYMENT BY NAICS SUPERSECTOR (December 2007) Trade, Transportation, & Utilities: 605,200 Natural Resources & Mining: 6,900 5,000 THOUSANDS OF WORKERS 4,000 3,000 2,000 1,000 Professional & Business Services: 283,600 6,000 Leisure & Hospitality: 280,700 Manufacturing: 554,700 Other Services: 111,900 Construction: 150,200 SOURCE: BUREAU OF LABOR STATISTICS, DECEMBER 2007 (PRELIMINARY DATA, NOT SEASONALLY ADJUSTED) Information: 40,400 Government: 442,300 BUSINESS FACILITIES 45

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Business Facilites - February 2008 Contents First Word Snapshots Corporate Moves: Texas Capturing the Creative Class Green with Energy Automotive Opportunities in a Green Economy Corporate Moves: Wyoming Metro Spotlight: Overland Park, KS Metro Spotlight: Long Island, NY Get Ahead in Alabama Indiana: Sending Tech Messages How to Successfully Negotiate a Lease in Today's Real Estate Environment Legislation Spurring Innovation in Kentucky New Center will Propel Ontario's Automotive Future Virginia's Vital Signs Eating Well in the North of France Advertiser Index Ask the Expert

Business Facilities - February 2008

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