Indiana Business Bulletins

Virus Will Impact Supply Chain for Months
The director of the Center for Business and Economic Research at Ball State
University says Indiana manufacturing is facing a supply chain disruption
for the next several months as a direct result of the coronavirus outbreak
in China. Professor Michael Hicks says Indiana annually imports about $7
billion worth of goods, about half of that for Indiana’s automobile sector.
Much of that, Hicks says, comes from China.

Convention Postpones Indy Event Amid Virus Concerns
A convention set to come to the Indiana Convention Center later this month
has postponed its event in response to COVID-19 developments. Indiana on
Friday announced its first confirmed case of coronavirus.

State Awards $470K for Destination Development
The Indiana Office of Tourism Development is doing its part to help keep the
memory alive of famed TV host and artist Bob Ross. The award is part of a
$470,000 Destination Development Grant.

FCA to Create 200 Jobs in Kokomo
Fiat Chrysler Automobiles says its previously announced $400 million
investment in Kokomo will create nearly 200 jobs and retain 1,000 more. The
automaker plans to repurpose an idled transmission plant in the Howard
County city into what will now be known as the Kokomo Engine Plant. The
facility will produce the GMET4 engine, which is used to power the Jeep
Wrangler and Jeep Cherokee.

Amish Acres Rebranded, New Offerings to Attraction
The tourist attraction in northern Indiana once known as Amish Acres will
reopen in April with a new name and additional offerings. The new owners,
including former U.S. Congressman Marlin Stutzman, this week unveiled the
rebranded name: The Barns of Nappanee, home of Amish Acres.

IPL Receives Approval to Modernize Electric Grid
Indianapolis Power & Light Co. has received Indiana Utility Regulatory
Commission approval to invest over $1 billion to modernize its electric grid
over a seven-year-period. IPL revAMP will address aging equipment and
hardware, and will provide new technology and equipment.

Hoosier Robotics Teams to Battle at Lucas Oil Stadium
Some of the brightest, tech-savvy kids in Indiana will be competing Saturday
when the 4th annual VEX State Robotics Championship gets underway at Lucas
Oil Stadium. The event, sponsored by the TechPoint Foundation for Youth,
will bring nearly 400 teams from Indiana elementary, middle and high schools
to downtown Indianapolis.

Farmer Optimism Pushes Sentiment Index to New High
A large percentage of American farmers and ranchers are feeling very
optimistic about the agricultural economy right now, according to new data
from the Purdue Center for Commercial Agriculture. The Purdue/CME Ag Economy
Barometer rose by one point last month to 168, the highest reading in the
five-year history of the measurement.

Acacia Pharma Gets FDA Approval for Post Op Therapeutics
United Kingdom-based Acacia Pharma Group plc, which has research facilities
in Indianapolis, has announced the U.S. Food and Drug Administration has
approved BARHEMSYS, an injectable drug for the prevention and treatment of
postoperative nausea and vomiting. PONV is common in patients following
significant treatments or invasive procedures, including surgery or cancer
chemotherapy.

Infosys Opens Cyber Defense Center
An India-based digital services and consulting company is continuing to grow
in central Indiana. Infosys (NYSE: INFY) has cut the ribbon on its new Cyber
Defense Center in downtown Indianapolis. Located inside its Technology and
Innovation Hub that opened last year, the company says the center aims to
prevent, detect, assess and respond to cybersecurity threats and breaches
for its clients. It is the seventh global Cyber Defense Center for Infosys.

Purdue Researcher Creates Quick Test to Detect Infection
A biomedical researcher at Purdue University has developed a paper, handheld
device to test for infectious diseases, including the various coronaviruses.
Test results can be read within 40 minutes, according to Jacqueline Linnes,
an assistant professor of biomedical engineering who specializes in building
portable diagnostic tools.

Kelley Puts More Focus on STEM for MBA Students
The Indiana University Kelley School of Business says it is responding to a
growing demand for graduates who are prepared to function in science,
technology, engineering and math-related fields. The school says its
full-time MBA program will offer STEM designated degrees in five
disciplines. Beginning with those earning degrees this spring, MBAs with
majors in accounting, business analytics, finance, marketing and supply
chain and operations will carry the extra designation of STEM certified.

Coronavirus: Potential Impact on Indiana Manufacturing
Even without one human case of coronavirus within Indiana’s borders, the
Hoosier state could feel a deep impact of the disease as it starts to impede
manufacturing, according to an IUPUC professor. Stocks plunged last week
amid escalating fears of the coronavirus’ spread and the damage it could
inflict on the global economy. In this country, there’s concern about how
supply chain disruptions could impact factories if they can’t get enough
materials from China.

Indy Splenda Maker Responds to Coronavirus Reports
As the coronavirus outbreak creates concern around the globe, it’s hitting
close to home for at least one Indiana-based company. Carmel-based Heartland
Food Products Group produces Splenda – those little yellow packets of
sweetener – which is made in Indianapolis. Several national media outlets
reported last week the zero-calorie sweetener was made in China and
impacting the production of Diet Coke.