Jeffersonville Steel Processing Company Chooses Ports of Indiana-Jeffersonville for Major Expansion

by with No Comment 1si News1si Press ReleaseEconomic Development

voestalpine Roll Forming Corporation significantly grows Jeffersonville operations

Jeffersonville, IN. (Aug. 19, 2024)

voestalpine Roll Forming Corporation (RFC) will move forward on a major expansion of its Jeffersonville operations. The expansion includes a new production line for frame rails for several major global customers, including over $77,900,000 in construction, equipment, and other related services. The expansion will also include over 100 new jobs that will meet or exceed the Clark County average wage.

voestalpine RFC, a supplier of roll formed metal, services several different industries, including aerospace, construction, material handling, off-highway, office furniture, solar, and transportation, is wholly owned by voestalpine AG, a globally leading steel and technology group operating in over 50 countries.

“This next chapter of growth for RFC would not be possible without the support from state and local leaders. We look forward to expanding our business operations with this transformative project adding long-term infrastructure, employment opportunities and overall value to the Jeffersonville community for years to come,” said Kevin Dierking, President & CEO, voestalpine Roll Forming Corporation.

“Indiana has a rich tradition of manufacturing and delivering high quality materials that power the world around us thanks to commitment of companies like voestalpine,” said IEDC Chief Strategy Officer Ann Lathrop. “The company’s continued growth and industry partnership in Southern Indiana will help advance critical industries, from aerospace to energy to infrastructure and transportation, while supporting job growth and community development in Jeffersonville and the surrounding region.”

“We are thrilled voestalpine RFC continues to find success in Jeffersonville and has officially decided to significantly grow operations at their Ports of Indiana-Jeffersonville location, adding over 100 new jobs, all of which are at or above the county average wage,” said Mayor Mike Moore. “The City of Jeffersonville’s continued focus on quality of place, complimented with a competitive business environment, has set the stage for this continued momentum and long-term community impact.”

“Our team is very pleased that voestalpine RFC has chosen Ports of Indiana-Jeffersonville for its new operations,” said Ports of Indiana CEO Jody Peacock. “voestalpine RFC is a forward-thinking leader in producing specialized roll-formed metal for vital sectors like aerospace, construction, solar energy, and transportation. Establishing the new facility adjacent to their current operations allows voestalpine to capitalize on the port’s multimodal connections, comprehensive logistics services and operational synergies, thereby strengthening their competitive edge.”

“Voestalpine has operated in this region for years, and when a customer of ours chooses to expand here, it’s a win for Hoosiers,” said Duke Energy Indiana President Stan Pinegar. “We are glad to work with them to help make this possible. This will bring both capital investment and jobs—both permanent and construction—to the community.”

“One Southern Indiana welcomes this announcement from RFC and celebrates another win for our growing community,” said One Southern Indiana CEO and President Lance Allison. “This announcement offers our residents and industry a growing opportunity and is yet another indicator of our regional strength and capacity to support global industry leaders such as RFC.”

Based on the company’s job creation plans, the Indiana Economic Development Corporation (IEDC) will commit an investment in voestalpine Roll Forming Corporation of up to $2 million in the form of incentive-based tax credits and up to $2 million in Hoosier Business Investment tax credits. These tax credits are performance-based, meaning the company is eligible to claim incentives once Hoosiers are hired.

About voestalpine Roll Forming Corporation

voestalpine Roll Forming Corporation supplies custom roll formed metal components into several industries including Aerospace, Construction, Material Handling, Off-Highway, Office Furniture, Solar and Transportation.

In 2000, Roll Forming Corporation was acquired by globally leading steel and technology group voestalpine AG joining the Metal Forming, Tubes and Sections division. In 2001, voestalpine Roll Forming Corporation became a corporate partner to the state of Indiana by adding a manufacturing facility in Jeffersonville, Indiana.

Today, voestalpine Roll Forming Corporation has seven production facilities across three states with five facilities and headquarters located in Shelby County, Kentucky and one facility each in Pennsylvania and Indiana.

About Ports of Indiana: Ports of Indiana is a statewide port authority operating three ports on the Ohio River and Lake Michigan. Established in 1961, Ports of Indiana is a self-funded enterprise dedicated to growing Indiana’s economy by developing and maintaining a world-class port system, and by serving as a statewide resource for maritime issues, international trade, and multimodal logistics. Web: www.portsofindiana.com

About Duke Energy

Duke Energy Indiana, a subsidiary of Duke Energy, provides about 6,300 megawatts of owned electric capacity to approximately 900,000 customers in a 23,000-square-mile service area, making it Indiana’s largest electric supplier.

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. Web: www.1si.org

Contact:
voestalpine AG
mediarelations@voestalpine.com

One Southern Indiana
Brittany Schmidt, Manager of Programs, Events, and Groups
BrittanyS@1si.org   
812-945-0266

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Louisville Zoo Celebrates Birth of Giraffe Calf

by with No Comment Member News

Watch Progress on Live Giraffe Cam at louisvillezoo.org/giraffecam

LOUISVILLE, Ky. (August 12, 2024) – There’s a six-foot-tall bundle of joy at the Louisville Zoo. A newborn male Masai giraffe, born to parents Kianga and Baridi on August 9, 2024, will mark the first giraffe calf born at the Zoo in 12 years. The last giraffe calf was Silvester in 2012. A name will be announced in the coming weeks.

After a gestation period of 15 – 17 months, 7-year-old Kianga delivered the healthy calf, who weighed 160 pounds and stood at six feet and two inches tall at birth. This pregnancy was a planned part of the Association of Zoos and Aquariums (AZA) Species Survival Plan for Masai giraffes, aimed at maintaining the genetic diversity of managed animal populations in human care.

“We are delighted to celebrate this important birth,” said Dan Maloney, Director of the Louisville Zoo. “Both Kianga and the calf are doing well, and the Zoo staff is closely monitoring them to ensure their continued health and well-being.”

Currently, the calf is being raised and nurtured off exhibit. Guests are invited to follow updates and watch the calf’s first weeks by viewing the giraffe cam at louisvillezoo.org/giraffecam. Updates on when the public can view the calf will be communicated via the Zoo’s social media channels and official website. The Zoo anticipates the calf will make its public debut in the coming days.

Guests can also “adopt” the giraffe calf through a special ADOPTS package coming soon which includes a mom and calf plushie, an adoption certificate, the adopter’s name listed on the Zoo’s website, a colorful Zoo magnet and two admission passes to visit to the Louisville Zoo — all for $99. Visit louisvillezoo.org/adopts for more information and to purchase.

Zoo fans can also support the new calf and mom with donations at louisvillezoo.org/giraffe-donation-2024. Support like this will help ensure that this adorable calf and his parents continue to receive top-notch care around the clock, engaging enrichment activities, and all the essentials needed to thrive. Donations of any amount make an impact.

About Masai Giraffes

Masai giraffes, native to East Africa, are the largest subspecies of giraffe. They are distinguished by their irregular, star-shaped spots which are like a fingerprint and unique to each individual animal.  The International Union for Conservation of Nature (IUCN) Red List of Threatened Species categorizes giraffes as a whole as vulnerable.  Masai giraffe numbers have declined more than 50 percent in last 30 years. Their largest threats are habitat loss and poaching. The Louisville Zoo is committed to the conservation of this majestic species through education, breeding programs, and support of conservation efforts in the wild.

Zoo Hours

The Zoo is open daily year-round. Summer hours are 10 a.m. – 5 p.m. (stay until 6 p.m.) through Sept. 22, 2024. The Zoo will close early on Saturday, August 24 (10 a.m. – 2 p.m., exit by 3 p.m.) for Brew at the Zoo with Wine and Food, Too! The Zoo is open year-round except on Thanksgiving, Christmas, and New Year’s Day. Visit louisvillezoo.org for more information.

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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).

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Economic Update: Fed Inaction Leads to Market Overreaction

by with No Comment 1si NewsEconomic Development

submitted by
Uric Dufrene, Ph.D., Sanders Chair in Business, Indiana University Southeast

A few weeks ago, the Economic Update suggested that there was an outside chance for the first Federal Reserve cut to come in July, but more than likely we would see the first cut in September. After the last batch of key economic releases, the FedWatch Tool is now pricing, with 100% odds that the first cut will come in September. We predicted that cuts would then come again in November and December. Current probabilities are now pointing to cuts in November and December. Will the economy see a recession in 2024, or will it simply hit an expected soft patch? 

The odds of a September rate cut quickly changed with the release of the July employment report, coming in weaker than expected. The BLS reported that the nation’s economy added 114,000 jobs, far less than the expected level of 175,000. The unemployment rate increased from 4.1% to 4.3%. While the report showed that the labor market is weakening, as we have been expecting, the stock market reaction was probably an overreaction. Payroll growth slowed, but not far under what we would expect as normal job growth. The unemployment rate did notch upward, but a closer look suggests that the increase may not persist.     The number of unemployed increased by 352,000, and of this amount, 249,000 were on temporary layoffs. Without the large increase in temporary layoffs, the unemployment rate would have remained unchanged at 4.1%. 

One dynamic of the labor market over the past year has been the divergence between employment from the household survey and payrolls from the establishment survey. Employment from the household survey increased about 1.3 million (.8%) since last year, with some months showing declines. The establishment survey showed payroll growth at 2.4 million (1.5%), a difference of approximately 1 million. Historically, a divergence between these two series is usually followed by convergence. In the current state,  convergence would require either a slowdown in payrolls or an acceleration in employment. Last week’s report produced a slowdown in payrolls, perhaps the start of slower growth from the establishment survey. The report also showed a decline in weekly hours worked, and a small gain in average hourly wages.    

Following the report, expectations for a Fed cut in rates spiked. The FedWatch Tool is currently showing an almost even split between a reduction of a quarter or half a percent. Unless we get a much weaker payroll report for August, along with very soft inflation reports, the likely cut in September will be ¼% of a point.     

Equity markets sold off with the release of the July employment report, and the signal of a slowing economy. Then came Monday, with the Dow dropping more than 1,000 points. Markets were somewhat relieved and cut losses after the release of the ISM Services report, pointing to expansion in the service economy.   

More encouraging news came later in the week,  with the release of new claims for unemployment.  For the past several weeks, claims had been trending upward, an  indicator of a slower economy. Markets were surprised when claims came in below what was expected and surged as a result.   

The market turbulence last week was a combination of Fed inaction and market overreaction. With CPI less food, energy, and shelter rate running under 2%, a justification could have been made for the first cut in July. Market overreaction came in response to the national employment report on Friday, followed by Monday’s Yen carry trade-related sell-offs.  

The softening of payrolls brought a significant decline in the 10-year Treasury yield, a precursor to lower mortgage rates. 30-year mortgage rates have come down to 6.5%, and this will bring about a boost to the supply of homes, thus applying headwinds to shelter costs.  One reason for the current limited supply of homes has been the “lock-in” effect from homeowners with sub-4% mortgages. A reduction in rates will boost supply, as homeowners exercise options to either scale up or down in home ownership preferences.    

We are not ready to declare a recession just yet. While the labor market will continue to soften, this is also a matter of normalization of the macro-economy. Payroll changes averaged 251,000 a month in 2023, and that is still too high. Unemployment claims have risen from earlier levels but remain low compared to historical levels. Job openings have declined but still at levels that exceed the number of unemployed. Recession territory would need to see the opposite. Negative year-over-year changes in industrial production usually correspond to a recession, but for the last two months, the change in industrial production has turned positive, a reversal from the first quarter. The economy has not escaped a recession just yet. Keys to watch in the coming weeks will be the labor market and consumer spending. If both weaken considerably, recession calls will increase in intensity.  

Expansion on the Horizon: Jeffersonville Steel Processing Company Considers Growth at Ports of Indiana-Jeffersonville 

by with No Comment 1si News1si Press ReleaseEconomic Development

voestalpine Roll Forming Corporation looking to potentially expand Jeffersonville operations. 

Jeffersonville, IN. (Aug. 5, 2024) 

voestalpine Roll Forming Corporation (RFC) is considering a major expansion of their Jeffersonville operations. If Jeffersonville is chosen, the expansion would result in a new production line for frame rails for several major global customers, and would include over $77,900,000 in construction, equipment, and other related services. The expansion would include over 100 new jobs that will meet or exceed the Clark County average wage. 

voestalpine RFC, a supplier of roll formed metal, services several different industries, including aerospace, construction, material handling, off-highway, office furniture, solar, and transportation, is wholly owned by voestalpine AG, a globally leading steel and technology group operating in over 50 countries. 

Several locations are under consideration for the company’s expansion project. As part of its decision-making process, the company is requesting support from the City of Jeffersonville with a final location decision determined and communicated by voestalpine AG on August 19, 2024. Duke Energy has also offered additional incentives. 

“As we look to further develop new markets and grow our business to meet our customer’s needs, we want to thank the Indiana Economic Development Corporation, Duke Energy Indiana, Clark County, One Southern Indiana, Jeffersonville Redevelopment Commission, and the City of Jeffersonville for the support in evaluating where the next chapter of growth will reside for voestalpine Roll Forming Corporation. The cooperation with state and local leaders is a key consideration for us,” said CFO of voestalpine Roll Forming Corporation, Brad Lacy. “It is important to note that we still have a decision to make on an ideal location for our investment for all stakeholders including employees, customers and the communities in which we operate. We will finalize this decision the week of August 12 in partnership with our executive team and an official press release will follow the week of Monday, August 19 from voestalpine AG.” 

“We are thrilled voestalpine RFC continues to find success in Jeffersonville and are now under final consideration to significantly grow their operations at their Ports of Indiana-Jeffersonville location,” said Mayor Mike Moore. “This expansion is yet another reflection of the vibrant economic environment we have fostered over the years, now affording us this opportunity to bring over 100 new high-wage jobs to the community, all of which are above the Clark County average wage.” 

“Ports of Indiana is delighted voestalpine RFC is considering the Jeffersonville port for this critical expansion,” said Ports of Indiana Chief Executive Officer Jody Peacock. “This is a visionary company that provides specialized roll formed metal for key industries, including aerospace, construction, solar, and transportation. By locating next to its existing facility, it can further enhance its competitive advantage by leveraging the port’s multimodal connections, logistics services, foreign-trade zone and operational synergies within the port’s steel campus.” 

“Voestalpine has operated in this region for years, and when a customer of ours considers expanding here, it is a win for Hoosiers,” said Duke Energy Indiana President Stan Pinegar. “We are glad to work with them to help make this possible. This would bring both capital investment and jobs—both permanent and construction—to this community.” 

“We are delighted about the potential expansion of voestalpine RFC in Southern Indiana,” said CEO and President of One Southern Indiana, Lance Allison. “This move underscores the attractiveness of our business and economic development environment and the strong network we offer to companies looking to grow in the region.” 

About voestalpine Roll Forming Corporation 

voestalpine Roll Forming Corporation supplies custom roll formed metal components into several industries including Aerospace, Construction, Material Handling, Off-Highway, Office Furniture, Solar and Transportation. 

In 2000, Roll Forming Corporation was acquired by globally leading steel and technology group voestalpine AG joining the Metal Forming, Tubes and Sections division. In 2001, voestalpine Roll Forming Corporation became a corporate partner to the state of Indiana by adding a manufacturing facility in Jeffersonville, Indiana. 

Today, voestalpine Roll Forming Corporation has seven production facilities across three states with five facilities and headquarters located in Shelby County, Kentucky and one facility each in Pennsylvania and Indiana. 

About Ports of Indiana: Ports of Indiana is a statewide port authority operating three ports on the Ohio River and Lake Michigan. Established in 1961, Ports of Indiana is a self-funded enterprise dedicated to growing Indiana’s economy by developing and maintaining a world-class port system, and by serving as a statewide resource for maritime issues, international trade, and multimodal logistics. Web:  www.portsofindiana.com

About Duke Energy 

Duke Energy Indiana, a subsidiary of Duke Energy, provides about 6,300 megawatts of owned electric capacity to approximately 900,000 customers in a 23,000-square-mile service area, making it Indiana’s largest electric supplier. 

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: 
voestalpine AG  
mediarelations@voestalpine.com 

One Southern Indiana 
Brittany Schmidt, Manager of Programs, Events, and Groups 
BrittanyS@1si.org  
812-945-0266 

 

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Thank You for Renewing Your Membership | July 2024

by with No Comment 1si NewsThank Your for Renewing Your Membership

One Southern Indiana would like to thank the following members for renewing their membership during the month of July 2024.

Quarter Century Club (25 Years or More)Member Since
Retailers Supply  (aka Aramsco)1968
Bachman Auto Group1976
Clark County REMC1976
First Savings Bank1976
Geo. Pfau’s Sons Company, Inc.1976
Lee Building Products1976
paco manufacturing1976
Water Tower Square1977
Goodwill of Central & Southern Indiana, Inc.1982
The Marketing Company1985
Commercial Kentucky, Inc.1988
Southern Indiana Works1988
Custom Foods Catering1990
Hosparus Health of Southern Indiana1990
Kightlinger & Gray, LLP 1991
AssuredPartners – Jeffersonville1993
Monroe Shine & Co., Inc., CPA’s1994
Nimlok Kentucky1994
Taco Bell1994
  
Ten to 24 Years 
The Stemler Corporation2001
LMH Architecture2002
Radiology Associates, Inc.2002
Health Insurance by Design2003
Callistus Smith Agency, Inc.2004
Highlander Point Center2006
Federal Reserve Bank of St. Louis2007
Harrison County Convention & Visitors Bureau2007
Gilda’s Club Kentuckiana2008
Security Pros, LLC2009
Stoll Keenon Ogden PLLC2009
Timmel Associates, LLC2009
Jimmy John’s2011
Crown Staffing2012
Fox Insurance & Investments, LLC2012
Heritage Engineering, LLC2012
Jones, Nale & Mattingly PLC2012
Dr. Black’s Eye Associates2013
ProMedia Group, LLC2013
Stotts Orthodontics2013
Clark Dietz, Inc.2014
Culver’s of Jeffersonville2014
Estes Waste Solutions, LLC2014
HWC Engineering2014
Lochmueller Group, Inc.2014
  
Five to Nine Years 
Ronald McDonald House Charities of Kentuckiana2015
Shoe Sensation #9732015
Taylor Siefker Williams Design Group2015
Bubba’s 332016
Church, Langdon, Lopp, Banet Law2016
Cornell Harbison Excavating, Inc.2016
H & H Metal Products, Inc.2016
Habitat for Humanity Clark & Floyd Indiana2016
Infinite Solutions, LLC2016
J & C Technologies2016
Kaiser Home Support Services, Inc.2016
River Valley Resources2016
Louisville Water Co.2017
River Heritage Conservancy, Inc.2017
Volunteers of America Mid-States2017
Farmers Insurance2018
Hanover College2018
Hollenbach-Oakley2019
KCC Manufacturing2019
Spencer Machine & Tool Co., Inc.2019
The Mustard Seed, Thrift On Mission, Inc.2019
  
Two to Four Years 
Board and You Bistro2020
Benchmark Family Services2021
Clark/Floyd System of CARE & Prevent Child Abuse2021
Clearpath Specialty2021
Guerin Woods2021
Louisville Bats Baseball Club2021
Outward Bound Support Services, LLC2021
Centerstone2022
Kentuckiana Mortgage Group Inc.2022
  
One Year 
Christian Brothers Automotive2023
Clarksville Little Theatre2023
Dare to Care Food Bank2023
Mitch Craig Heating & Cooling2023
Phoenix Theatres Entertainment2023
Premier Homes of Southern Indiana, Inc.2023
Spectrum Reach2023
Statewide Mortgage2023
The Kleingers Group2023

Louisville Zoo Celebrates Rare Birth of Sumatran Tiger Cub for the First Time in 20 Years

by with No Comment Member News

LOUISVILLE, Ky. (July 30, 2024) – The Louisville Zoo proudly announces the birth of a Sumatran tiger cub, marking the first tiger birth in more than 20 years for the Zoo. Born at 7:40 p.m. on July 23, 2024, the cub is the offspring of 16-year-old male Kami Sambal (kah-me-sahm-ball) and 14-year-old female Jingga (Jean-gah; like the game). Both mother and cub are thriving under the dedicated care of the Zoo’s expert staff. Jingga is demonstrating all the appropriate behaviors of an experienced mother, grooming, nursing and carrying her neonate cub. 

Currently, the newborn is behind the scenes bonding with mom. Plans for public viewing will be announced via the Zoo’s official channels and website soon. Guests are invited to follow updates and watch the tiger cub’s first weeks by viewing our Tiger Cub Cam at louisvillezoo.org/cubcam.

The last Sumatran tiger cubs born at the Zoo were Leela, Jai, and Mohan in April 2004, followed by two Amur, or Siberian tiger cubs, Irisa and Anya, in October of the same year.

“It’s been a long time since the Zoo has welcomed a tiger cub to our extended family and we are all excited by the arrival of this rare and endangered youngster,” said Louisville Zoo Director Dan Maloney. “I commend the Islands and Animal Health teams for their efforts and invite our community to come celebrate with us as we watch this precious cub grow and progress.”

A naming contest sponsored by Norton Children’s will be announced in the coming weeks. 

Guests can also “adopt” the tiger cub through a special ADOPTS package which includes a mom and cub plushie, an adoption certificate, the adopter’s name listed on the Zoo’s website, a colorful Zoo magnet and two admission passes to visit to the Louisville Zoo — all for $99. Visit louisvillezoo.org/adopts for more information and to purchase.

About Sumatran Tigers

Sumatran Tigers, the last of the island tiger subspecies, are smaller than mainland tigers and are critically endangered. Fewer than 400 individuals are estimated to still survive in the wild.  Found only on Sumatra, their habitat is threatened primarily by development for palm oil plantations. Palm oil is found in hundreds of foods, cosmetics and cleaning products. As worldwide demand for palm oil accelerates, so does the loss of vital tropical forest lands. These lands are home to thousands of unique plant and animal species. Choosing palm-oil free products and those containing sustainably grown palm oil helps preserve and protect wildlife and wild places.  

Zoo Hours

The Zoo is open daily year-round. Summer hours are 10 a.m. ─ 5 p.m. (stay until 6 p.m.) through Sept. 22, 2024. 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).

 

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