Hamilton County Alliance e-News

2003 HCA Performance

An improving economy enhanced economic opportunities for Hamilton County in 2003. The Alliance was able to assist 14 companies in 2002 but that number grew to 35 in 2003. Collectively, these growing businesses represent 490 new jobs with capital investments in excess of $40 million. The companies assisted by the Alliance ranged in size from fewer than 10 employees to more than 1,500. The projects will contribute more than $600,000 per year in new tax revenue. The Return-on-Investment for Hamilton County's public sector was $3 : $1. A list of the expanding companies is seen in Figure 1. Each of these projects includes activities to enhance the skill-sets of the company's employees. Over 150 Hamilton County companies assisted by the Alliance have been awarded more than $5 million from the State of Indiana to enhance corporate education and training program. Since 1998, more than 17,000 Hamilton County workers were retrained and nearly 3,500 new workers received skills training through this effort. A list of the companies assisted by the Alliance is found at http://www.hcalliance.com/.

Workforce

Hamilton County's ability to successfully compete for future business attraction projects will greatly be influenced by its ability to satisfy a variety of workforce issues. A recent article on site selection stated that, "skills will continue to be the number one location criterion for domestic technology site selection projects for the foreseeable future". It is for this reason (and others) that the Alliance has made workforce skills an integral part of its on-going business retention/expansion strategy.

It can also be said that many of the business attraction targets of the Alliance are businesses where access to and retention of skilled employees will greatly determine their success in the marketplace. These businesses weight their site searches toward factors resulting in operational success rather than elements purely related to driving down costs. It is at this point that quality of life factors are front and center in the site selection process.

Headquarters Activity

ADESA Corporation is completing construction of its new Carmel headquarters. The 180,000 square foot facility in Hamilton Crossing will ultimately house about 800 employees.

ADESA is a market leader in wholesale vehicle auctions, salvage auctions and automotive finance. The company reported 2002 revenues in excess of $800 million. In October 2003, ADESA's parent company, Allete, Inc., announced that its automotive services group would be spun off to form ADESA Corporation. ALLETE, Inc. is based in Duluth, MN.

Zotec Solutions, a medical billing and electronic medical records firm announced an expansion and the purchase of a new headquarters facility. The Carmel building will be renovated and the company anticipates adding an additional 160 jobs over the next four years.

MISO Expansion Energizes Economy

MISO or Midwest Independent Transmission System Operator, Inc. has announced a major expansion of its Carmel headquarters operations. The company will be investing $150 million in new facilities and equipment. The expansion will also result in the hiring of more than 300 new employees over the next five years at an average annual salary of $85,000 to $90,000. The State of Indiana and City of Carmel combined to provide an incentive package of nearly $7 million. At present, MISO occupies approximately 180,000 sq. ft. of space. In 2003, MISO paid more than $310,000 in local property taxes.

Demographic Update

The latest available demographic data on Hamilton County shows a county continuing to experience strong growth. New census data show Hamilton County with an estimated 2003 population of 216,820 people, an increase of 34,000 or 18.7 percent since the 2000 Census.This rate of growth has Hamilton County as the 21 fastest growing county in the U.S. The county is presently the fifth most populous county in Indiana. The median age of the county's current population is 35.3 years. The current employment estimate (at-place employment) for the county is almost 80,000 (full-time), an increase of nearly 39,000 jobs since 1990. At the same time, the county boasts more than 8,050 businesses. Claritas reports a median household income for the county of $81,100.

Outlook 2004 A Success

The seventh annual Outlook event proved to be very popular. More than 225 people attended the luncheon program to hear three local firms discuss their activities in the dynamic life sciences sector. The three firms were The Theron Group, Disetronics and Suros Surgical Systems. Disetronics, a subsidiary of The Roche Group, has relocated its operations from Minnesota to Fishers, IN. The company is a leader in the design and manufacture of insulin pumps. The company announced it would be hiring approximately 100 people by the end of May. Keynote speaker for the event was Dr. Morton Marcus, who commented on the Indiana economy and efforts needed to move it forward.

ED News Briefs

A recent newspaper article reported discussions by the City of Carmel with the University of Notre Dame concerning the potential of a branch or satellite facility in the city. Mayor Jim Brainard noted the discussions were at a very preliminary stage.

Hamilton County and Noblesville officials announced a proposed $25 million plan to extend 146th Street from Cumberland Road, through the Noblesville Corporate Campus, to I-69. The proposal is subject to formal approval but is a major step forward for improved traffic flow and creating new development opportunities. Work on the 3,400-acre Corporate Campus has begun and is an economic development initiative of the City of Noblesville.