Louisville-based manufacturer to expand into Southern Indiana
Conco, Inc. opening a new facility and investing over $54 million in Scottsburg.
Scottsburg, IN. (August 14, 2023)
Southern Indiana is celebrating the growth of another manufacturing company in the region. Conco, a full-time, full-service supplier of ammunition containers and related services, plans to invest $54.5 million to establish a second facility in the region, this one located in Scottsburg, Indiana. The company’s investment includes over $36 million in new equipment, furnishings, fixtures, hardware, and software; $11.5 million to purchase the former Tokusen USA space; and $6.9 million in improvements to the existing spaces.
This investment will result in up to 175 new full-time positions at the Scottsburg location, including Production Team Members, Quality Technicians, Welders, Paint Technicians, Process Technicians, Controls Technicians, Tool & Die, Industrial Maintenance, Electricians, Engineering and Administration at an average wage of $28 per hour.
Conco has served the United States Armed Forces as a supplier since 1967. With a strong reputation for high-quality products, on-time delivery, and tech support, they continue to meet military needs and develop innovative products to adapt to ever-changing requirements. Conco is also a designated “return site” equipped to store, de-militarize, and prepare container models for reuse and resale. Their specialized products include insensitive munitions, rectangular containers, square bell containers, and round bell containers, in addition to their refurbished container options.
“We are excited to join the Southern Indiana region with our new facility in Scottsburg,” said Karen Paschal, President and CEO of Conco, “When looking at locations, the former Tokusen USA space was a perfect fit for what we needed to expand, and we look forward to working with the State of Indiana, the City of Scottsburg, and its residents to create additional growth for the region.”
The Indiana Economic Development Corporation (IEDC) has committed to an investment in Conco of up to $1.925 million in the form of incentive-based tax credits. These tax credits are performance-based, meaning the company is eligible to claim incentives once Hoosiers are hired. In addition, the City of Scottsburg is offering the company personal and real property tax abatement, phasing in over five and ten years, respectively.
“Indiana’s defense sector continues to grow, and we’re excited to welcome Conco to our network of advanced manufacturers that are contributing to and supporting our nation’s armed forces,” said Governor Eric J. Holcomb. “Conco’s decision to locate in Scott County is a testament to the region’s skilled workforce and vibrant communities, and the company’s presence in southern Indiana will further advance new patriotic career opportunities for families for years to come.”
“The City of Scottsburg is thrilled to be working with Conco and helping them establish a home in Scottsburg,” said Terry Amick, Mayor of the City of Scottsburg. “We are proud to support their efforts as they expand their services for the United States Armed Forces and are excited to see the local community growth they will bring to the area.”
“Southern Indiana has seen major manufacturer growth over the last several years with projects expanding or new locations opening in the region,” said Wendy Dant Chesser, President and CEO of One Southern Indiana. “Conco’s decision to expand and open a new location in Scottsburg shows that our region remains a prime location for manufacturers – big and small, current and new. 1si is excited to see what Conco will bring to the manufacturing region and look forward to continuing this partnership and assisting them in any way we can.”
About Conco, Inc.
Conco is a designated “small business” with 50 years of experience dedicated to the ammunition container market and is ISO 9001:2015 certified. Conco is centrally located in Louisville, KY, and is currently the prime contract container supplier for several U.S. Army ammunition programs. For more information, visit concocontainers.com. If interested in a position at Conco, email resumes to resumes@concocontainers.com.
About One Southern Indiana
One Southern Indiana (1si) was formed in July of 2006 as the economic development organization and chamber of commerce serving Clark and Floyd counties. 1si’s mission is to help businesses innovate and thrive in the Southern Indiana / Louisville metro area via the three pillars of Business Resources, Economic Development and Advocacy. For more information on One Southern Indiana, visit www.1si.org.
Contact:
Conco, Inc.
Karen Paschal, President & CEO
502-962-2121
One Southern Indiana
Brittany Schmidt, Content Marketing and Media Relations Manager
BrittanyS@1si.org
812-945-0266
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Economic Update | The Resilience of the Consumer
submitted by
Uric Dufrene, Ph.D., Interim Executive Vice Chancellor for Academic Affairs, Sanders Chair in Business, Indiana University Southeast
One of the reasons why we have not seen a recession this year, and likely for the rest of the year, has to do with the consumer, driver of almost 70% of the U.S. economy. So, what is happening with the consumer will often provide clues about the direction of the U.S. economy. Last year, for example, the economy was seeing 40-year high rates of inflation. Skyrocketing inflation was expected to break the backs of the consumer, and a recession would then follow. Additionally, consumer sentiment was in the doldrums, not only due to higher prices but also the collapse in both stock and bond values. Stock market indices saw significant erosion, and bond values declined due to increasing interest rates. Consumer conditions were not favorable, and a recession was almost certain, as also evidenced by an inverted yield curve (short-term bond yields are higher than long-term bond yields), a reliable predictor of past recessions.
Despite challenges, consumers have held up, steering the economy clear of a recession, at least for this year. Consumer spending on services has not slowed down. It took almost two years to recover from the decline in spending due to Covid, but spending has been increasing since. Goods spending saw astronomical gains coming out of Covid but has been normalizing since. Goods spending peaked in April 2021, and has decelerated since, but that was to be expected. Households can only make so many home repairs and buy so many couches, refrigerators, and RVs!
Higher mortgage rates were expected to also thwart the consumer, but most households with mortgage balances had already locked in an ultralow mortgage rate, immune from subsequent rate increases. Most are not eager to replace a low-rate mortgage with a higher rate, and this is one of the reasons why the housing supply, or homes available for sale, continues to be challenged. Existing home sales, at the national level, are down more than 30% from a year ago. Higher mortgage rates have impacted some industries, like real estate, housing, and mortgage finance, but the impact on most consumers has been minimized.
One of the contrary benefits of higher mortgage rates is the impact on supply. Restricting supply is providing support to home prices, when normally, higher mortgage rates might adversely impact housing values, like the housing crash that ultimately brought about the Great Recession of 2007. Strong home values are providing a boost to homeowner’s equity, building wealth, and supporting a resilient consumer. Since the Great Recession, home equity loans have been on a continued downward slope, but since last year, home equity loans rebounded, allowing homeowners to tap into this wealth to support consumer spending.
This added equity to the household balance sheet is also giving consumers the confidence to take on more debt. Consumer debt dipped coming out of the Covid recession but started climbing around mid-2021. Debt continues to increase, but the rate of growth has subsided. Household debt ratios had dropped to a 30-year low in March 2021 and began climbing to a pre-pandemic high in late 2022. Since then, household debt ratios have declined slightly, providing more ammunition for subsequent consumer spending. A red flag is beginning to emerge on the consumer debt side, however. While delinquency rates are lower than pre-pandemic levels, and significantly below rates associated with the Great Recession, delinquency rates on consumer loans and credit cards have been climbing.
Household checkable deposits have declined from a peak in September 2022, but remain considerably higher than pre-pandemic levels. Consumer sentiment continues to climb from the trough of June 2022 but is at levels that historically coincide with recessions. Inflation continues to moderate, and the last report showed a decline in the core rate, previously referred to as “sticky”. The progress made on inflation is supporting consumer sentiment, one of the reasons why sentiment has been trending upward. The labor market has softened a little but is still very tight. Job openings continue to exceed the number of unemployment and the growth in earnings now exceeds the rate of inflation. We are still expecting a slowdown in the economy, but the overall shape of the consumer is one of the reasons any economic contraction will be mild.
Nonprofit Spotlight of the Month | Open Door Youth Services
Open Door Youth Services
2524 Corydon Pike Ste. 108
New Albany, IN 47150
Business Phone: (812) 948–5481
Website: www.opendooryouthservices.com
Contact Person: Augie Jones, Communications Manager
Contact Email: augie.jones@opendooryouthservices.com
Agency Mission Statement or Description: Open Door Youth Services exists to respond to the needs and promote the healthy development of vulnerable children and youth. It has been helping our community for 40 years through residential, prevention, and outreach programs that add positive influences to the lives of our young people.
Year established: 1982 (40 years).
Counties/regions serviced: We serve the entire state of Indiana through the Indiana Department of Child Services where we house over 200 residents in our residential facility each year. We also serve Floyd County elementary schools with afterschool programming where we provide prevention education, teaching them age-appropriate lessons that will help them to avoid potentially abusive situations.
Focus areas: Youth Development / Social Services
Impact in community: We have been helping our community through residential, prevention, and outreach programs that add positive influences to the lives of our young people. Open Door Youth Services reach as many as 4,000 children a year.
Volunteer Opportunities: 1si members are invited to volunteer at our annual Vince Klein “Run Like a Super Hero” Memorial 5k on September 23rd, 2023 or visit our website’s “Volunteer” page for more opportunities. These opportunities range from youth mentorship, grounds maintenance, or taking our youth on outings. Volunteers must be 21 years or older. If a 1si business has a specific area of expertise that they think can benefit Open Door Youth Services (i.e landscaping, information technology, ect.) and would be interested in providing their services for free, please reach out on our website or at augie.jones@opendooryouthservices.com.
How 1si members can help your organization: 1si members can support our organization by donating on our website or participating in our annual Vince Klein “Run Like a Super Hero” Memorial 5k on September 23rd, 2023. All proceeds raised will go towards our residential program. Members can run in the 5k or become a sponsor of the event. If sponsored, members of your organization will be allotted free tickets for the 5k.
Financial Assistance Available for Duke Energy Customers in Indiana
If you or someone you know is having trouble paying utility expenses, there are many programs available to help.
ASSISTANCE AGENCY FUNDS
Assistance agencies in your area may be able to help make payments to cover some or all of your past-due utility bill balance. To learn about agencies that serve your area, please dial 211, visit 211.org or text your ZIP code to 898211. This free service helps connect customers to local community agencies supplying aid for a wide range of needs, including help with energy bills. These agencies often administer both state and federal funds or know of state agencies that are overseeing related state-approved funds.
ASSISTANCE PROGRAMS
Energy Assistance Program (EAP)
This income-based assistance program allows those earning below certain income thresholds to qualify for federal energy bill assistance. The qualifying income thresholds are based on factors that include household income and the number of people living in your home.
To learn how to qualify and apply for EAP funds, call 317.232.7777 or visit in.gov/ihcda.
Share the Light Fund®
Share the Light Fund brings together customers and communities to help individuals and families struggling to pay their energy bills. Duke Energy works with agencies to distribute funds to qualifying customers in order to pay energy bills, deposits, and reconnection/connection charges.
Find your local agency and learn more at duke-energy.com/ShareTheLight.
OTHER ASSISTANCE
Budget Billing
Favored by customers who like to know what to expect each month, Duke Energy’s Budget Billing program allows you to pay one predictable monthly amount to help provide better control over your budget. Your monthly Budget Billing amount is based on the average of your actual bills over the last 12 months and is periodically reviewed and adjusted.
To learn more or sign up online, visit duke-energy.com/BudgetBilling.
Pick Your Due Date
With Duke Energy’s Pick Your Due Date option, you can choose the date you want your energy bill to be due each month. For even more control over your energy bills, combine Pick Your Due Date together with Budget Billing.
Learn more about Pick Your Due Date at duke-energy.com/DueDate.
Installment Plans
Installment plans give you more flexibility to pay back a past-due balance over a longer period of time. Helpful options are available for you to request a few extra days or to restructure your entire past-due balance into a monthly payment plan.
To learn more, visit duke-energy.com/MoreTime or call customer service at 800.521.2232.
Due Date Extension
If you know ahead of time that you will miss your due date, this payment option may be for you. Extend your payment due date by up to 10 business days to avoid late fees. Learn more at duke-energy.com/ExtendDueDate.
Usage and Budget Alerts
Take control of your electricity use and monthly budget with Usage Alerts. By having a smart meter and an email address on file, you’ll automatically be enrolled to receive a notification showing how much electricity you’re using and how much it may cost, in time to adjust.
You also have the option to set up Budget Alerts to help keep your bill in check. Get informed when your bill is expected to reach a specific dollar amount you choose, allowing you to course-correct and cut back on your usage if you wish. Set up your Budget Alerts by clicking the Manage My Usage Alerts button in your Mid-cycle Alert. Learn more at duke-energy.com/UsageAlerts.
One Southern Indiana Board of Directors Announces Transition Plan for CEO and President
Wendy Dant Chesser, current CEO and President, announced her resignation last month.
New Albany, IN. (August 10, 2023) – The One Southern Indiana (1si) Board of Directors has approved a CEO transition and search plan to guide the organization during the next several months. Wendy Dant Chesser, current CEO and President, is resigning her position as of October 26, 2023, and this transition plan includes hiring a search firm for 1si’s next president and CEO and ensuring all duties and projects currently performed by the President are completed or transitioned to other staff members by this date.
The search committee, comprised of stakeholders, Board of Directors, business members, and investors, will be led by Bryan Wickens, the current Chair of the Board of Directors. The search committee issued a Request for Proposals and will analyze and hire a search firm to facilitate the candidate identification and interview process.
“Wendy has done an excellent job for nearly 11 years, and we appreciate all that she has done in guiding the organization,” noted Wickens. “We know that change can be challenging, but we truly have an incredible opportunity in front of us to build on her work and the wonderful foundation of 1si’s past accomplishments. We are committed to finding the leader we need today to take our organization and region to the next level.”
The committee plans to engage board members, business members, and stakeholders during the search process. If a candidate is not found or hired by Wendy’s last day, an Interim CEO will be considered until a permanent replacement is found. Chesser will continue her current projects and duties until her resignation date but will have a secondary lead for ongoing projects and duties.
“I am pleased with the transition plan that the Executive Committee has developed for the remainder of my time at 1si,” said Chesser, “1si is in good hands with the current team of leadership and staff and will continue the mission to help businesses thrive and innovate in Southern Indiana and Louisville metro area.”
About One Southern Indiana
One Southern Indiana (1si) was formed in July of 2006 as the economic development organization and chamber of commerce serving Clark and Floyd counties. 1si’s mission is to help businesses innovate and thrive in the Southern Indiana / Louisville metro area via the three pillars of Business Resources, Economic Development and Advocacy. For more information on One Southern Indiana, visit www.1si.org.
Contact:
Brittany Schmidt, Content Marketing and Media Relations Manager
BrittanyS@1si.org | 812-945-0266
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CFD Awards Additional $180,000 Grant for Paramedicine Program
New grant from the IDOH is in addition to another $315,000 grant already awarded.
CLARKSVILLE, IN (August 9, 2023) – The Clarksville Fire Department is getting some additional assistance in launching a new program aimed at alleviating overcrowding in local emergency rooms and improving response times for ambulances. The Indiana Department of Health (IDOH) recently notified Clarksville Fire Chief Brandon Skaggs that his department was awarded a grant of $180,000 for the new Paramedicine program.
Earlier this year, the Clarksville Fire Department was awarded a $315,000 grant to start the new Paramedicine program, which would be the first of its kind in Southern Indiana. Working with Clark Memorial Hospital and LifeSpring Health Systems, the CFD will create a database of patients with approved treatment plans. The patients could be dealing with health conditions such as diabetes, COPD, respiratory issues, or postpartum concerns. Using the grant funds, the CFD will hire part-time nurses or paramedics to schedule short, in-home appointments with these patients to provide care, change dressings, and other related medical needs.
Skaggs says his first grant proposal to the Indiana Department of Health was for $400,000, but the department ended up receiving an award of $315,000. He says this additional grant of $180,000 is from the Health Innovation Partnerships and Programs division of the IDOH, a different source from the original grant.
“Although we could have made the program work with the original grant, this additional funding will serve as a valuable resource for helping to get the new Paramedicine program up and running,” said Chief Skaggs. “These funds will allow us to purchase additional medical equipment and hire additional program staff to serve the community.”
The in-home visits provided by the Paramedicine program will be free, but the CFD will not cover expenses such as medications or other needed medical items. Those will be the responsibility of the patient. Chief Skaggs says the grant funds will be in place through 2026, and should cover things such as equipment, a vehicle, and salaries for the part-time paramedicine staff.
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One Southern Indiana Celebrates Accomplishments at Annual Meeting
The Organization Announced Several Award Winners and Welcomed New Board of Directors
New Albany, IN. (August 8, 2023) – One Southern Indiana, the chamber of commerce and economic development organization for Clark and Floyd counties (1si), hosted their Annual Meeting today, August 8, 2023, at Huber’s Orchard, Winery & Vineyards. The theme of this year’s program was “New Perspectives.” The event hosted approximately 380 members and guests.
1si is pleased to present three awards during this event to members and individuals who embodied the characteristics of the award categories:
- Economic Development Impact Project of the Year – HealthTrackRX, sponsored by DMLO CPAs and Advisors
- Ambassador of the Year – Danny Berry, Prudential Financial, sponsored by MCM CPAs & Advisors
- Volunteer of the Year – Kim Martin-Dawkins, PNC Bank, sponsored by First Harrison Bank
HealthTrackRx is the nation’s premier PCR-based infectious disease laboratory, providing clinical testing services throughout the U.S., and has a long-term vision to grow its regional presence.
Members enthusiastically approved a slate of new officers and directors to the 1si Board. Officers for the 2023-2024 year include:
- Chair – Bryan Wickens, MAC Construction & Excavating, Inc.
- Chair-Elect / Economic Development Chair – Cathy Scrivner, Louisville Water Co.
- Secretary / Governance Chair – Brad Blackburn, Samtec, Inc.
- Treasurer / Finance Chair – Tommy Wallace, Old National Bank
- Past Chair – Laurie Goetz-Kemp, Momentum Title Agency, LLC
- Business Resources Council Chair – Jessica Carroll, First Harrison Bank
- Board Development Chair – Ann Carruthers, Clark/Floyd System of CARE & Prevent Child Abuse
- Advocacy Chair – Jim Epperson, SoIN Tourism
- Diversity, Equity & Inclusion Council Chair – Raymond Smith, Jr., Park Community Credit Union
- Investor Relations Chair – Afton Yaeger, Mariner Wealth Advisors
“I am thrilled to be the chair for the 2023-2024 year at One Southern Indiana,” said Bryan Wickens, “It’s an honor to lead the executive team and board of directors, and I am excited to work with the staff of 1si during this time of transition.”
New directors elected to the board for a three-year term include:
- Morgan Bauer Brown, Schuler Bauer Real Estate Services
- Jason Clemmons, Clark County REMC
- Deborah Ford, IU Southeast
- Christopher Jackson, Dan Cristiani Excavating Co., Inc.
- Matt Neely, MCM CPAs & Advisors
- Joseph Scott, Joash Construction
- Andrea Strange, Harding, Shymanski & Company, P.S.C.
Once again, 1si partnered with the News & Tribune to publish our annual report to the community for the preceding 12 months. The supplement will be available in the August 8 edition.
Samtec provided the keynote for today’s meeting. Locally headquartered and privately held, Samtec is the service leader in the electronic interconnect industry with 40+ global locations. Mark Bobo, Executive Vice President of Global Compliance, Sustainability, and Government Affairs tied the “New Perspectives” theme of the event to the ever-changing world of electronics manufacturing. He highlighted how Samtec’s core philosophies around providing Sudden Service® to its customers have evolved while remaining true to the values upon which the company was founded.
1si’s sponsors for the event included:
- Presenting Sponsor – First Harrison Bank
- Video Sponsor – MCM CPAs & Advisors
- Economic Development Impact Project Award Sponsor – DMLO CPAs & Advisors
- Venue Sponsor – Huber’s Plantation Hall, Huber’s Orchard, Winery & Vineyards
- Platinum Sponsors – ClearPath Mutual, German American Bank, ProMedia Group, and River Ridge Development Authority
- Gold Sponsors – First Savings Bank, Ivy Tech Community College, Mister “P” Express, Inc., Shepherd Insurance, and SoIN Tourism
- Silver Sponsors – Centra Credit Union, Clark Memorial Health, Greater Clark County Schools, L&D Mail Masters, Inc., PayFWDs, River City Bank of Kentucky, Schuler Bauer Real Estate Services
“1si is a robust organization that shows continuous growth each year. We could not be the organization we are without the support of our board of directors, investors, business members, and the community,” noted Chesser. “I am proud to have been a part of this team for the past eleven years and can’t wait to see where the organization goes in the future.”
About One Southern Indiana
One Southern Indiana (1si) was formed in July of 2006 as the economic development organization and chamber of commerce serving Clark and Floyd counties. 1si’s mission is to help businesses innovate and thrive in the Southern Indiana / Louisville metro area via the three pillars of Business Resources, Economic Development, and Advocacy. For more information on One Southern Indiana, visit www.1si.org.
Contact:
Brittany Schmidt, Content Marketing and Media Relations Manager
BrittanyS@1si.org | 812-945-0266
Louisville Zoo Wildlife Photography Classes with Murphy’s Camera Back by Popular Demand
The Louisville Zoo is happy to announce the return of its popular Wildlife Photography Basics class on August 12 and September 9. The one-day course is presented in partnership with Murphy’s Camera.
Participants will learn the building blocks of great Zoo wildlife photography. Zoo staff will lend their expert advice on what animal behaviors to look for as well as the best times and seasons to photograph different species. Murphy’s Camera experts will advise on the basics of framing a shot and practical methods for taking advantage of available light.
The class meets from 9 to 11 a.m. and is designed for teens and adults eager to learn the basics of wildlife photography. For the August 12 class participants will take a photo walk through the South America area with views of puma, bald eagle, lynx, maned wolf, flamingos, sloth, hyacinth macaws or toucan (depends on rotational schedule) and jaguar. The September 9 class features the Islands area with views of the little penguins, dalmatian pelicans, Aldabra tortoises, and rotational islands mammals which could include Sumatran tiger, orangutans, babirusa, tapir and siamangs.
Registration for both classes is open now for $60 for non-members and $40 for members and includes all-day Zoo admission. Visit louisvillezoo.org/photography for more details and to register.
The Zoo is open daily year-round. Spring / summer hours are 10 a.m. ─ 5 p.m. (enjoy the Zoo until 6 p.m.). The Zoo is closed on Thanksgiving, Christmas, and New Year’s Day. Visit louisvillezoo.org for more info.
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The Louisville Zoo, the State Zoo of Kentucky, is the top, non-profit, paid attraction in the state. The Zoo is dedicated to bettering the bond between people and our planet by providing excellent care for animals, a great experience for visitors, and leadership in scientific research and conservation education. The Zoo is accredited by the Association of Zoos and Aquariums (AZA).