EDC Staff
Cinda Kelley Acting Executive Director Jody Hamilton Director of Business & Administration Wayne Reisinger Director of Existing Industry April Hart Administrative Assistant
Lafayette - West Lafayette Economic Development Corporation
2 0 0 5 A N N UA L R E P O RT
2005 Annual Report
337 Columbia Street P.O. Box 311 Lafayette, IN 47902 Tele - (765) 742-0095 Fax - (765) 742-6276 Webpage: http://www.lwledc.org
Known By The Companies We Keep
March 2006
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2005 Annual Report
2005 Annual Report Memberships
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Board of Directors & Officers
David Bathe Ivy Tech Community College Steve Belter Wintek Corporation Joseph Bumbleburg The Ball Law Firm Tom Easterday SIA Robert Griffiths Merrill Lynch Gary Henriott, Chairman Henriott Group Mike Johnston WLFI - TV, Inc. Vic Lechtenberg Purdue University Lawrence McShane Eli Lilly & Co. Mayor Jan Mills City of West Lafayette Mayor Tony Roswarski City of Lafayette Wendell Seaborne Cinergy Steve Shook The Shook Agency Jo Wade Lafayette - West Lafayette CVB Commissioner KD Benson Tippecanoe County Anthony Benton, Treasurer Stuart & Branigin Sally Byrn SSCI Tom Freeman, Vice Chairman Regions Bank Dr. Bob Hagen Unity Healthcare Joseph Hornett Purdue Research Foundation Jack Kelley Tipp. Bldg. Trades Council Doug Mansfield, Past Chair Kirby Risk Ann Miller Adecco Amy Moulton Hawkins Environmental Chuck Scott Verizon Joseph Seaman Chase Gary Stampanato, Secretary Caterpillar Terry Wilson Greater Lafayette Health Services
The EDC is a member of several supporting organizations and councils. They include: * Mid-American Economic Development Council * Indiana Economic Development Association - EDC is serving as Secretary to the organization, and liaison to the Midwest US-Japan Conference planning committee. * Indiana Chamber * Indy Partnership - The EDC is on the LEDO Advisory Board and a Board Member * Midwest US-Japan Association
Speaking Engagements
Cinda Kelley, Acting Executive Director, gave the following presentations in 2005: * Mid American Economic Development Competitiveness Conference speaking on seeking and reaching economic development partnerships. * Cinergy Regional Workshop offering a presentation on Preparing Powerful Proposals.
Special Thanks to the EDC Partners
City of Lafayette City of West Lafayette Ivy Tech Community College Purdue Research Foundation Purdue University Tippecanoe County Government
Thank you for your continued support!
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2005 Annual Report EDC Membership
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Recognitions
Tippecanoe Region Prospector
The prospector was runner-up for the BKD Indiana Excellence award.
Quality of Life Magazine
The DISCOVER magazine is an award winning magazine. The MidAmerican Economic Development Council recognized the 2005 publication with the Development Materials Excellent Award. The DISCOVER will become an annual publication and will become more focused on economic trends of the community. A wide representation of community leaders are involved in the publication of this magazine.
Century & Half Century Awards
The EDC submitted several applications for local companies for the Governors Century/Half Century Awards. The Journal and Courier received the Century Award and Kirby Risk, Dynamic Corp, Eli Lilly, and Lafayette Office Supply received the Half Century Award.
Achievements
WIRED Grant
WIRED, or Workforce Innovation for Regional Economic Development, funding was awarded to the fourteen (14) county Economic Growth Region 4 (EGR4) in February. The EDC brought together regional partners to complete a successful application which was chosen by the Governor to submit to the Department of Labor (DOL) for consideration. The EGR4 was awarded the grant by the DOL. The State Department of Workforce Development will serve the region as the fiscal agent, Purdue Center for Regional Economic Development will serve as the Project Manager and the EDC will serve on the Advisory Committee. The grant will span over a three year period and totals $15M. For a summary of the application or to review the complete initiative, please go to the EDC Collaboration Center.
Adecco ALCOA Arnett Health Systems Ball Law Firm Bennett Boehning & Clary Bioanalytical Systems Blue Print Specialties Burkhart Advertising Caterpillar Logistics Caterpillar, Inc. Chase Cinergy City of Lafayette City of West Lafayette Coca-Cola Bottling Co. Copy Print Shop *CP Morgan DeFouw Chevrolet Eli Lilly & Co. Elmsteel, Inc. FC Tucker/Lafayette Realtors *Fairfield Manufacturing Fifth Third Bank Girardot Strauch & Co. Greater Lafayette Health Services Hawkins Environmental Henriott Group Henry Poor Lumber Homewood Suites Indiana Design Consortium Indiana - American Water Company INOK Investments Ivy Tech Community College Journal & Courier Kendrick Buick, Cadillac, Nissan, Inc. Kirby Risk Corporation Lafayette Bank & Trust Lafayette Life Insurance Laf. Regional Assoc. of Realtors Lafayette Savings Bank Lafayette Union Railway Laf - W. Laf. CVB Laf. - W. Laf. Chamber of Commerce Landis + Gyr LUEA MBAH Insurance Milestone Contractors Murphy/Reader Assoc. Office Works *Old National Bank Oscar Winski Co., Inc. PEFCU Precise Technology Purdue Research Foundation Regions Bank Salin Bank & Trust Sand Ridge Bank Scholer Corporation Smith Barney SSCI State Farm Insurance Stuart & Branigin Subaru of Indiana Automotive Superior Structures Tate & Lyle The Schneider Corporation The Shook Agency The Warehouse of Lafayette Tillett Engineering Services Tipmont REMC Tipp. Bldg. Trades Council Tippecanoe County Commissioners TRW Twin City Electric, Co. Unity Healthcare Verizon Wabash National Corporation Wabash Valley Power Association Weigand Construction Co. Wintek Corporation WLFI - TV, Inc. * Indicates new members in 2005
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2005 Annual Report
2005 Annual Report Sponsored Programs
Venture Capital Club
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Business Retention & Expansion
Tippecanoe County, City of Lafayette, and City of West Lafayette saw strong investments in 2005 with expansions at local companies including: * ALCOA - 162 new jobs * Caterpillar - $170M investment with 52 new jobs * Favored - $650,000 investment with 3 new jobs * Roadworks - $2.5M investment * SIA - $2M investment * Tate & Lyle - $100M investment In addition, Tippecanoe County, City of Lafayette and the EDC partnered to offer funding for local companies for job training and recruitment. Tippecanoe County presented $150,000 to Butler International for recruitment efforts. The City of Lafayette presented Fairfield Manufacturing $50,000 for training of 50 new positions.
The EDC sponsors a local Venture Capital Club comprised of 80 members who meet quarterly at the Holiday Inn Select. The Club’s purpose is to provide a forum for entrepreneurship. Up to two companies are allowed to make a presentation at each quarterly meeting. Each meeting of the Club also includes a special guest speaker.
Small Business Development Center (SBDC)
The EDC is a co-sponsor of the SBDC. The SBDC offers one-on-one counseling to local entrepreneurs along with a monthly workshop. The workshop features local volunteers from the finance, insurance, legal, marketing and accounting sectors.
Life Science Research Council (LSRC)
The council promotes the life science industry in the area. It’s emphasis is placed on growth of university based start-up companies, encourages development of a community and education system that attracts a skilled life science work force, support legislative efforts and encourages inter-company, community and university cooperation on common issues.
Business Attraction
New Distribution Center
Stoddard Development of Decatur Illinois built a 400,000 sq. ft. facility on a 37-acre site. They leased it to their own subsidiary, 307 Corporation. The corporation is a third-party distribution center that services a single client, Tate & Lyle.
Community Council
The Community Council is a group of local business leaders that meet every month to discuss the issues and activities happening in the community.
Regional
Before Benton established their own economic development organization, the EDC assisted the county in their economic efforts. The EDC assisted Benton County in landing an Ethanol plant and Windmill Farm in 2005.
Sister City
Sister City is a committee that oversees the relationship between the City of Lafayette and it’s sister city, Ota City, Japan. Sister City is planning a trip to Ota City, Japan in September 2006.
Leadership Lafayette
Check out www.lwledc.org
The EDC was an organization resource mentor during the Spring and Fall semester of Leadership Lafayette.
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2005 Annual Report
2005 Annual Report Regional Marketing Efforts
Indy Partnership
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Product Development
Industrial Appreciation Task Force
In an effort to recognize our valued manufacturing base, the EDC formed the Industrial Appreciation Task Force. The task force developed a community prosperity award to be given to manufacturers with 100 or more employees that have contributed to the community. The recipients of the award are as follows: * ALCOA * Bioanalytical Systems * Chemtura/Great Lakes Chemical * Journal & Courier * Kirby Risk Corporation * Lilly Tippecanoe Labs * Rea Magnet Wire * Subaru of Indiana Automotive * Tate & Lyle * TRW * Wabash National Corporation * Warren Industries
In 2005, Tippecanoe County became a member of The Indy Partnership, an economic development sales and marketing organization serving eleven counties in central Indiana. This collaboration will allow the EDC to leverage additional resources and talent.
Regional Marketing/Coop
Marketing continues with Benton, Clinton, Montgomery, Warren and White counties participating. Partnerships include Purdue Research Foundation, Indy Partnership, and IEDC Out-of-State Marketing Program.
Tippecanoe Region Prospector
In February 2005, the prospector was launched. It features a database of available sites and buildings in Tippecanoe County and surrounding counties. The initial partners of the prospector include Benton County, Clinton County, LUEA, FC Tucker Realtors and Coldwell Banker. White and Warren county will be coming on board beginning of 2006. The prospector can be accessed at www.lwledc.org and will be included in the statewide site database sponsored by the state utility companies.
Purdue Assessment
The assessment of Purdue programs and faculty was completed in 2005. The information will be used by Purdue University in their business and technology transfer efforts.
Telecommunications Oversight Committee
The telecommunications study has been completed. The committee has hired a Technical Director, which will oversee the fiber progress in the community.
Strategic Planning
The EDC participated in developing a community wide strategic plan and successful application for the CDAG grant for Benton County. After receiving the CDAG grant, the county was able to create their own local economic development organization and hire a part-time executive to over see their efforts.
Employers Health Care Forum
A group of HR professionals from the large corporations have developed a forum to put together initiatives to work with the local medical professionals on improving quality and lowering cost of health care. The committee was developed from the Medical Cost study, which was completed in 2005. There were approximately 70 attendees at the first forum.
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2005 Annual Report
2005 Annual Report Networks
Networks
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Marketing Efforts
Trade Shows
In 2005, the EDC staff attended a number of the top trade shows with opportunities to meet with site selectors and companies interested in relocating their business. The trade shows attended include: * BIO 2005 - A biotechnology and pharmaceutical International trade show. * PRI - Performance Racing Industry Trade Show * CoreNet Global - Corporate Real Estate Trade Show * Midwest US-Japan Conference - Annual conference * Governor’s Trade Mission to Japan - providing a number of valuable opportunities to build relationships with our Japan based companies.
The EDC sponsors several networking opportunities for our members. They include: Wabash Valley Lean The network is an organization comprised of diverse companies who seek to improve their competitive edge by gaining and sharing knowledge in lean concepts. The network held 10 networking sessions, 4 - LEAN 101 sessions and a field trip. Business Growth The network gives the members an opportunity to learn the ropes of growing their business in today’s competitive global markets. The network held 10 networking sessions. QN 9000 The network offers members interactive meetings oriented towards understanding, maintaining and learning about quality management systems and international standards. The network held 10 networking sessions and an Internal Auditor Training course. Senior Executive This network consists of an interactive group of executives that learn from one another’s experiences. The network held 10 network sessions and a social event. New Executive Reception The reception is co-sponsored by the EDC and Merrill Lynch. The event is held annually to introduce new executives to the local community. Several community leaders and legislators attend the reception to give a warm welcome to the new executives.
Materials
The staff developed several marketing pieces in 2005, which include: * Discover magazine that highlights the quality of life. * Regional CD that highlights economic development aspects of Tippecanoe, Warren, Clinton, Benton, Montgomery and White Counties. * Economic Trends that highlights the current trends happening in housing, industry, healthcare, finance, and local colleges. * Tippecanoe Region Prospector that provides full site and building details with extensive demographic, competitive and mapping information that users can customize for their needs. * Editorial pieces were featured in magazines such as Expansion Solutions, Business Faculties, Business Xpansion Journal and the Indy Partnership Regional magazine.