Business, Economy and Consumer Affairs

BASi ends fiscal year 2011

Dec 20, 2011

A company in the Purdue Research Park is reporting positive results for the year.

Bioanalytical Systems, Incorporated had net income of $543,000 for the fiscal year that ended September 30th.  BASi ended the previous fiscal year with a net loss of more than $2.5 million.

President and CEO Anthony Chilton says the company generated cash, delivered revenue growth, and substantially improved bottom-line performance.  He says that happened despite a difficult economic environment and delays in certain projects.

Here's some interesting news about the car market in the United States: Citing increased competition, Honda said it is taking the unusual step of redesigning its Civic sedan months after a unveiling its 2012 model this summer.

Here's what Tetsuo Iwamura, chief executive for American Honda Motor Co., told The Detroit News:

New tenants expected at Wabash Landing in 2012

Dec 20, 2011

The former Border’s location in West Lafayette is being split up into eight retail spaces.

Wabash Landing LLC spokesperson Jim Curtis says lease negotiations are already underway for some of the spots.

In addition, two new businesses will move into the shopping complex.

Cold Stone Creamery and Rocky Mountain Chocolate will take over the Snow Bear Frozen Custard site, and Domino’s will replace Topper’s Pizza.

Curtis is hoping the city’s Redevelopment Commission can help develop a plan to bring more businesses to the pedestrian walkway.

Vectren locks out union members

Dec 16, 2011

Vectren says service to its natural gas customers will continue as normal, despite the lockout of nearly 300 employees.

Company spokesperson Chase Kelley says the move was necessary after union members rejected a new three-year contract.

She says without an employment agreement in place, union members could walk off the job at any time.

Kelley says to guarantee business as usual, Vectren felt it was necessary to put a contingency team in place.

The company serves 570,000 customers in 49 Indiana counties, including Tippecanoe.

City Bus to Build a New Transfer Station

Dec 15, 2011

City Bus is planning to open a new transfer station next year.

The transit service will move from its current location at Riehle Plaza to 3rd and North streets.

Manager of Development John Metzinger says the reason is to better accommodate riders with disabilities.

He says each bus route will have its own designated bay.

City Bus recently purchased some space from the city for its ticket office.

Once complete, all bus transfers will be done at the new facility and no longer at the current depot.

The project is expected to cost about $3-million.

Chatham Square development entering next phase

Dec 15, 2011

The developer of Chatham Square in Lafayette is taking the next step in completing the project.

Brinshore took control of a parcel at the site from the city.  It will build single-family homes on 10 lots, which it will then put up for sale.

Senior Vice President Peter Levavi says work is already underway on three of the lots, one of which has the Purdue Solar Decathlon home on it.  He says crews are putting the finishing touches on that house and foundations have been poured for the two model homes.  Those should be ready for tours in April.

A Tippecanoe County pallet manufacturer is receiving tax abatements on a roughly $8-million investment.

The county council approved the tax breaks for American Fibertech in Clarks Hill.

Chief Financial Officer Jay Wiegand says the business is experiencing increased demand and the abatement is needed to help it expand.

American Fibertech is getting a seven-year abatement for equipment investments and ten-years for property improvements.

Wiegand says the expansion will result in 20 new jobs within five years.

Half-Marathon Scheduling Causing Controversy

Dec 9, 2011

Promoters of a half marathon say they are going to have to change the date of their race due to the scheduling of a similar event. The Carroll County Community Center planned their Adam’s Mill Covered Bridge Half Marathon for October 20th next year in Flora. However, a group is putting together its own half-marathon on the same day through Lafayette and West Lafayette. Flora race Director Don Franklin says that is going to hurt participation of his event, which is needed to raise money for the community center. He says last year the event raise about $3,000 for the Community Center.

SIA Foundation Awards Eight Grants

Dec 6, 2011

Eight non-profit groups in Tippecanoe and surrounding counties are receiving grants for projects.

The money comes from Subaru of Indiana Automotive Foundation.

The largest award of $7,395 went to the Art Museum of Greater Lafayette for purchasing a mobile arts learning lab and to expand educational outreach.

Sunnyside Middle School in Lafayette received the second largest of the $7,000 for science tables and chairs education.

Lafayette Housing Authority was awarded $3,168. 

Habitat for Humanity of Lafayette put 18 families in homes this year.  That's more than the 12 to 15 families they usually help during a year.

Director of Family Services and Volunteers Cindy Taylor says they've selected some of next year's families, but can take on more in Tippecanoe and surrounding counties.

She says Habitat has already been working with eight families on the requirements to build their homes early next year.

The organization is hosting a celebration party Tuesday (Dec. 6) to honor donors and highlight the successes of 2011.