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Northeast Indiana 2012 Business Dynamics Report Released

February 12th, 2013

FOR IMMEDIATE RELEASE:
February 12, 2013

Northeast Indiana 2012 Business Dynamics Report Released

FORT WAYNE, Ind.- The Northeast Indiana Regional Partnership in conjunction with the Community Research Institute at Indiana University-Purdue University Fort Wayne (IPFW) has released its annual Business Dynamics Report. The report tracks business events in the 10-county Northeast Indiana region, including companies new to the region, expansions, layoffs, closings, downsizings and call-backs.

"2012 was another strong year for project activity that continues the pattern since 2010. The continued number and quality of upside' events is encouraging. Perhaps as significant is the absence of many major 'downside' events over the past three years, including 2012," said John Stafford, director of the Community Research Institute (CRI) at IPFW. "This trend should assist Northeast Indiana in remaining one of the real bright spots in Indiana and the Midwest for post- recession employment growth."

By the numbers, there were 10 net new company announcements with 763 new positions in Northeast Indiana in 2012. The largest in terms of new positions was Accelerated Tanks and Trailers in Allen County, with 300 new jobs planned.

2012 was also another good year for business expansions in the region. There were 120 expansions with 3,007 jobs associated with these expansions. In addition, over $450 million was invested in plant and equipment upgrades and expansions this past year. The largest expansion in terms of additional employees was at Sweetwater Sound, which is expanding and adding 316 employees.

"Northeast Indiana had a very good year in capital investment and job creation for 2012 despite considerable uncertainty in the national economy," said John Sampson, president and CEO of the Regional Partnership. "The collaborative effort of local and regional economic developers with new and expanding companies is a winning strategy. We remain committed to the long term priorities of Vision 2020 to grow the economy of Northeast Indiana."

The full 2012 Business Dynamics Report can be found in the Resource Center on the Partnership's Vision 2020 website.

The Northeast Indiana Regional Partnership was formed in 2006 to help build a globally competitive economy in Northeast Indiana. It is a public-private partnership focused on generating business leads and building regional capacity through product development and effective regional collaboration. The Northeast Indiana Fund (Fund) was created in 2005 to operate as a supporting organization of the Northeast Indiana Regional Partnership, focused specifically on product development and regional collaboration. In 2010, the Partnership launched Vision 2020 to bring the region together around five key areas for economic growth: 21st Century Talent, Competitive Business Climate, Entrepreneurship, Infrastructure and Quality of Life. Through its combined efforts in business development and capacity building, the Partnership supports its 10 member counties: Adams, Allen, DeKalb, Huntington, LaGrange, Noble, Steuben, Wabash, Wells and Whitley counties. For more information, visit www.NEIndiana.com.

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MEDIA CONTACT:
Courtney Tritch
Marketing Director
Northeast Indiana Regional Partnership
260.469.3460
courtney@NEIndiana.com

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