Seed Coating Company Picks Washington County for First Midwest Facility
Summit Seed Coatings Indiana LLC, a custom traditional and organic seed coating company, announced plans today to locate its first Midwest facility in Salem, creating up to 20 new jobs by 2017.
The Caldwell, Idaho-based company will invest $2.39 million to lease, renovate and equip a 60,000 square-foot facility at 401 South High St. in Salem.
The facility now owned by Aaron Lee, will be operational by January, and will aid in distribution to the company’s Midwest customers, as well as help meet the company’s strong demand, which has increased by 30 percent annually over the past four years.
“We included three Midwestern states in our search,” said Stuart Barclay, manager at Summit Seed Coatings. “While there were similar benefits offered by all of the states, we were attracted by the cultural atmosphere of Salem, which is similar to Caldwell.
Moreover, the help and encouragement by the state of Indiana, the city of Salem and the people we met was a big influence in our selection.”
“The seeds we have planted for a strong business climate are blossoming in Indiana,” said Eric Doden, president of the Indiana Economic Development Corporation. “Companies around the nation like Summit Seed Coatings are selecting the Hoosier State for their agricultural business. In Indiana, they find the right conditions for growth, including a low-cost environment and convenient location close to their customers.”
Summit Seed Coatings, which currently employs 25 full-time associates at its Idaho facility, plans to begin hiring key personnel in Indiana within the next two months. Interested applicants may apply at the company’s Salem facility.
“We included three Midwestern states in our search,” said Stuart Barclay, manager at Summit Seed Coatings. “While there were similar benefits offered by all of the states, we were attracted by the cultural atmosphere of Salem, which is similar to Caldwell. Moreover, the help and encouragement by the state of Indiana, the city of Salem and the people we met was a big influence in our selection.”
Founded in 2002, Summit Seed Coatings produces seed coatings for major seed distributors, which sell their seeds to agriculture dealers and government dealers, as well as at Lowe’s, The Home Depot, Walmart and other garden store chains. The company’s coatings convert more seeds to plants and produce more vigorous seedlings than uncoated seeds. Summit Seed Coatings currently coats small seeded legumes, alfalfa, clover, cover crops, radishes, forage grasses and retail grasses for homeowners.
The Indiana Economic Development Corporation offered Summit Seed Coatings Indiana LLC up to $100,000 in conditional tax credits and up to $17,500 in training grants based on the company’s job creation plans. These tax credits are performance-based, meaning until Indiana residents are hired, the company is not eligible to claim incentives. The city of Salem will consider additional incentives.
“We recognize Summit Seed Coatings as a growing, value-added agribusiness that will fit very well into our area,” said Salem Mayor David Bower. “It provides evidence that the cooperative efforts of the IEDC with Salem provides benefits to all and has a positive impact.”
“We are very pleased that after a very competitive multi-state search Summit Seed Coatings Indiana picked Salem as the best location,” said Bower. “Their decision reinforces our belief that with a coordinated team effort Salem can be very competitive in attracting new companies and investment. After just 2 years of local effort Summit is the latest success story that now totals over $45 million in new investment completed or underway in Salem.
“We expect even more in the near future. It has been the result of strong efforts on the part of many individuals. On this project we want to recognize the efforts of the Indiana Economic Development Corporation, Plan Commission Chairman Terry McNeely, Community Development Director Greg Fitzloff as well as the Salem City Council.”
Indiana ranks among the top 10 states in the nation for agricultural sales. Companies like Summit Seed Coatings contribute to the state’s $16 billion food and agricultural sector and help support 245,000 Hoosier jobs across the state.
Coffee Club Podcast 09-29-2014
Coffee Club Podcast 09-29-2014
Coach’s Corner Podcast 09-27-2014
Coach’s Corner Podcast 09-27-2014
BOIL WATER ISSUES FOR NORTH LAWRENCE
The North Lawrence Water Authority has issued a boil order for resident in Western Hill Addition Addition and all customers on Ind. 158 East of the addition.
The boil order is in effect until Wednesday, October 1.
Under a boil-water advisory (BWA), the Centers for Disease Control and Prevention recommends that water be brought to a rolling boil for one minute before it is consumed in order to kill protozoa, bacteria and viruses. At altitudes above 2,000 meters, boiling should be extended to 3 minutes, as the lower temperature of the boiling point at high altitudes requires more time to kill such organisms.
Bedford K-Mart Closing in December
Bedford’s Kmart will close its doors for the last time in December, leaving 62 employees without a job.
The store is being closed to help reduce corporate expenses, according to a press release.
Eligible associates will receive severance and have opportunities to apply at other area Sears or Kmart stores. Most employees are part-time or hourly.
Kmart, located at 1320 James Ave., will remain open until December, but has begun liquidating its inventory.
Two Indianapolis stores are also closing in December, 2715 Madison Ave. and 7425 E. Washington St. The Madison Street store employes 131 and the Washington Street store, 139.
The Decatur store, located at 804 S. 13th Street, has 49 employees and the Fort Wayne store, located at 820 Coliseum Boulevard North, has 69 employees and they too will close in December.
The closing “are part of a series of actions we’re taking to reduce ongoing expenses, adjust our asset base, and accelerate the transformation of our business,” as it moves to do more sales online, said Howard Riefs, a spokesman for Sears Holding, which owns Kmart.
Kmart was founded in 1899 by Sebastian Spering Kresge in Detroit and became one of America’s largest retailers before filing for bankruptcy in 2002. After emerging from bankruptcy, Kmart was acquired by a hedge fund and later became a subsidiary of Illinois-based Sears.
But Sears is struggling as well. The national retailer lost $573 million in the first half of the year, almost three times its loss in the first half of 2013.
“We have continued to show progress in our transformation, as demonstrated by our year-over-year increase in online and multi-channel sales, and with our member sales now representing 73% of eligible sales,” says Edward S. Lampert, Sears Holdings’ Chairman and Chief Executive Officer said at a stockholders meeting in August. “However, our second quarter earnings are unacceptable and we are taking steps to address our performance on several levels. This includes reducing costs as we evolve our business model, investing in our Shop Your Way and Integrated Retail customer initiatives, rationalizing our physical footprint and improving pricing and promotions. As we move through the transformation, our new programs are becoming more prominent both in how we run the company and in how we serve our members, and we are pleased with how our members are responding.”
“As we progress with our transformation by investing in new programs and platforms, we continue to bear the costs of two promotional models, which adversely impacts margins. There is more work to be done to get results where we expect them to be. Like any transformation, we must first overcome the burden of the initial costs before we can enjoy the benefits. We have a large and valuable portfolio of assets that provide us with the flexibility we need to fund our transformation as we proactively work to return Sears Holdings to profitable growth and deliver shareholder value.”
According to the financial results for the second quarter of 2014, Kmart comparable stores sales were down 1.7% for the quarter as compared to a 2.1% decline last year, also despite the continuing impact of consumer electronics industry trends, as well as the impact of our grocery & household goods business. Excluding the impact of both, comparable store sales would have declined 1.0%;
Sales to Shop Your Way members in Sears Full-line and Kmart stores increased to 73% of eligible sales, up from 71% during the second quarter last year;
Online and multi-channel sales grew 18% over the prior year second quarter and 22% over the prior year first half.
Major Marijuana Bust in Floyd County
Friday afternoon, Indiana State Troopers arrested two in New Albany and seized more than 20 pounds of marijuana.
ISP Detectives with assistance from the Harrison County Sheriff’s Department executed a search warrant at the residence and vehicles located at 3020 Barrington Court in New Albany, Indiana.
As a result of the search warrant, Le Gia Hoang, 66, from Oakland, California and Lucky Shiarath, 42, from San Pablo, California, were arrested for Dealing in Marijuana Over Ten Pounds and Maintaining a Common Nuisance.
The search warrant also resulted in the seizure of over twenty pounds of processed high grade Marijuana and the seizure of several thousand dollars in U.S. Currency and money orders.
Both of the arrested were incarcerated at the Floyd County Jail awaiting their first court appearance.
This investigation is continuing.
