Business

The city of West Lafayette is moving forward with plans for a fiber optic network.

However the details of the project have changed.

Initially Metronet officials asked the city to partner with Lafayette and Tippecanoe County to create a tax increment financing district that would enable the company to secure a bond for startup costs.

The Lafayette Redevelopment Commission would have been the lead agency.

But the West Lafayette Redevelopment Commission voted today to establish its own TIF district so it would have more direct input in the process.

Mayor John Dennis is glad the city and Metronet could compromise to make this project a reality.

A group from the Lafayette area is preparing to meet with some of Indiana’s Congressional delegation February 29 - March 2.

They hope to share some of their goals with such lawmakers as Senator Dick Lugar and Congressman Mike Pence.

Tippecanoe County Councilman Dave Williams chairs the Federal Government Committee for Greater Lafayette Commerce. He says the goal of these annual trips is to plant seeds with lawmakers, and to come together locally to address common needs.

"I don't know that you can weigh what kind of effect we're having in D.C., but I know what kind of effect this networking has on the local community. It gives us an opportunity to sit down and discuss things that are important to not only Greater Lafayette Commerce, but all of us."

Prior to Wednesday’s Tippecanoe Area Plan Commission meeting, it appeared the debate regarding a proposed development across from Mackey Arena was centered around one main issue, parking. However, As WBAA’s Sam Klemet reports, those on both sides say there is much more at stake than just congestion of cars.

About 300 new jobs and $440-million in capital investments highlight a new report on the cities of Lafayette and West Lafayette.

Greater Lafayette Commerce unveiled the encouraging economic trends from 2011 in the area in its year-end study.

Director of Development Jody Hamilton says the figures point to the forward thinking of both cities’ leadership.

She says the first quarter of 2012 appears to be building on the momentum of last year.

Lafayette already secured two major investments with a new $90-million plant at Alcoa and Ernest Health’s nearly $19-million rehabilitation hospital.

Hamilton says incentives such as money for job training programs make the area attractive to businesses.

Just outside of West Virginia's capital city, Charleston, on the banks of the Kanawha River, sits the Institute Industrial Park. Chemical plants have operated here continuously since World War II, when the local factories cranked out synthetic rubber. Today there are industrial pipes, tanks and buildings stretching in just about every direction.

Soon, there could be more.

U.S. chemical companies are the latest beneficiaries of the nation's natural gas drilling boom. Long focused on cheap gas sources elsewhere in the world, companies are now looking to expand here. A surplus of natural gas has pushed down prices, making it more attractive for chemical companies that use lots of gas to reopen shuttered plants and build new ones.

A new initiative through the Region Four Workforce Board aims at connecting manufacturers and skilled workers.

It’s called “Advancing Manufacturing: We Have Jobs Here, We Have Training Here.” Besides listing open positions at companies in Tippecanoe and surrounding counties, it offers free training for job seekers.

Region 4 CEO Roger Feldhaus says the effort is in response to employers who have expressed concerns about the quality of the current labor pool.

"They're not necessarily wanting to hire the same type of people with the same type of skills as they've hired in the past, prior to the recession. Processes have gotten a little more technologically sophisticated. The expectation of the workers that they bring on, I think, the standard has risen."

The $26 billion deal Thursday reached by the federal government, most states and the nation's largest banks to compensate homeowners for abusive foreclosure practices was hailed as a landmark agreement. But it's unlikely to end the mortgage mess that has depressed property values and left millions of homeowners owing more than their homes are worth, analysts say.

The agreement announced by the Justice Department directs the banks to write down a portion of loans for at-risk borrowers, modify mortgages for others and provide cash payments to some people who have already lost their homes.

Wabash National is reporting net income of $7.5 million dollars for the 4th quarter of 2011.

That compares with net income of a little less than $5 million for October through December of 2010.

President and C-E-O Dick Giromini  says this is the ninth consecutive quarter of noteworthy year-over-year improvement in Wabash National’s operating results.

The Lafayette truck-trailer manufacturer sold more than 47,000 units in 2011.

That nearly doubled total sales from 2010.

Retirees and families with young children have a mostly favorable impression of Greater Lafayette.  Young professionals say there is much to be desired.

Those are some of the findings in a survey by the Chamber of Commerce and Next Generation Consulting.

It shows the area compares favorably in cost, safety, and diversity to similar cities, but lags behind when it comes to socializing after work, healthy living, and transit options.

Chamber council member Mike Piggott hopes the report can spark some positive change locally.

Next Generation Consulting Founder Rebecca Ryan says one of the initial efforts must be breaking down certain stigmas that may hinder catering to younger people.