Thanks for Renewing Your Membership | October 2022

by 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 October 2022.

Quarter Century Club (25 Years or More) Member Since
Lehigh Cement 1976
AAA Hoosier Motor Club 1984
Huber’s Orchard, Winery & Vineyards 1984
Star Electric 1984
Morrison Chiropractic 1992
Ten to 24 Years
Centra Credit Union 2000
Building & Development Association of Southern Indiana 2001
The Grand 2002
Kentucky Truck Sales 2002
Heartland, A Global Payments Company 2004
Caesars Foundation of Floyd County 2005
CBRE 2006
Cimtech, Inc. 2007
American Beverage Marketers, Inc. 2009
Leadership Louisville Center 2010
The Center for Women & Families 2011
Five to Nine Years
Fund for the Arts 2014
World Trade Center Kentucky 2014
Weber Group Inc. 2015
Big Brothers Big Sisters of Kentuckiana 2016
Civilcon, Inc. 2016
South Central Regional Airport Authority 2016
Trinity Dynamics, Inc. 2016
Louisville Gas & Electric Co. 2017
Two to Four Years
Louisville Regional Airport Authority 2018
Rapid Industries Inc. 2018
Allegiance Staffing 2019
Chick-fil-A Jeffersonville 2019
Hagerman Inc. 2019
Our Place Drug & Alcohol Education Services, Inc. 2019
Fairfield by Marriott Louisville Jeffersonville 2020
KHIT Consulting 2020
McMahon Truck Centers 2020
Perfection Group 2020
Premier Primary Care 2020
Signature Mortgage 2020
Starlight Coffee Co. and Roastery 2020
One Year
Countryside Insurance Agency, Inc. 2021
HempRise 2021
Jeff City Mix 2021
KORT Physical Therapy 2021
Truist – Louisville 2021

City of Jeffersonville celebrates end of $20.9-million Jeff Digs project

by Member News

MEDIA RELEASE: OCTOBER 26, 2022

City celebrates end of $20.9-million Jeff Digs project

Jeffersonville, Ind. – Mayor Mike Moore joined city officials and project leaders to celebrate the completion of the Jeff Digs project on Wednesday.

Jeff Digs is the City of Jeffersonville’s largest public infrastructure project to date. The purpose was to correct downtown Combined Sewer Overflow (CSO) issues, decades in the making.

The United States Environmental Protection Agency (EPO) required the city to control the overflows to the Ohio River.

“Investing in our sewers today will position us for even more growth tomorrow,” Mayor Mike Moore said, “We knew this would not come without its headaches, but the Jeff Digs project was just what the city needed to meet the terms of the federal mandate and improve overall downtown flooding.”

In February 2021, work began at the intersection of 8th and Ohio. The project route was approximately a mile and a half.  It made its way to Wall Street through Spring and 7th and then south on Wall Street along Chestnut and then continued east on Chestnut to Graham. At times digging reached as deep as 25 feet.

The project was completed on October 10, 2022, and totaled $20.9 million.

“We completed this project without raising sewer rates and we did it for millions of dollars less than what was first talked about,” Moore said. “Everyone in Jeffersonville wins.”

The City of Jeffersonville launched the jeffdigs.net site to keep the community and residents living in the area up to date. Text alerts were sent out on a weekly basis with road closures and updates. Public meetings were held and city officials were available for questions and comments.

The project was intended to efficiently revitalize the city’s wastewater infrastructure and protect local waterways in the growing Jeffersonville community for the next 75 years.

The City is now in compliance with EPA with controlling CSOs.

Many key players helped successfully pull this off on time. The City would like to thank Utility Director Len Ashack, City Engineer Andy Crouch, Jacobi, Toombs & Lanz, Mac Construction, and numerous contractors involved.

-#-

MORE INFORMATION: (502) 295-3738

PROJECT BACKGROUND

The first sewers were constructed in Jeffersonville in approximately 1900. As was common practice at the time, these sewers were built as combined sewers, a sewer system that carries both wastewater and stormwater in the same pipe.

As is typical in many CSO communities, Jeffersonville’s combined sewers are located primarily in the older, downtown area of the city, with approximately 989 acres spanning from Main Street west to the city’s corporate limits with the Town of Clarksville being served by combined sewers.

Fast forward to today, the United States Environmental Protection Agency (EPA) has required the City of Jeffersonville to control the sewer overflows to the Ohio River and the Jeff Digs project did just that.

In August 2009, the Jeffersonville Sanitary Sewer Board ratified a Consent Decree with the EPA, the U.S. Department of Justice, and the Indiana Department of Environmental Management (IDEM). The Consent Decree was accepted by the U.S. District Court for the Southern District of Indiana in November 2009.

The Consent Decree is a federally enforceable, legally binding agreement that resolves alleged violations of the Clean Water Act for untreated overflows from Jeffersonville’s combined sewer system.

Economic Update | Recession Chatter and the Consumer

by 1si NewsEconomic Development

By Dr. Uric Dufrene, Sanders Chair in Business Professor of Finance, Indiana University Southeast

Talk about an upcoming recession has been only intensifying.   A recent recession indicator at Bloomberg placed the odds of a recession at 100%, and one frequently cited recession indicator, an inverted yield curve (which means short-term Treasury yields are higher than longer-term yields) also points to a recession.   If we do believe that a recession is imminent, one question to ask is whether it will be a deep or mild recession. Given that the consumer is almost 70% of the U.S. economy, the state of the consumer will help determine the severity of any economic slowdown. If we agree with some of these recession indicators and one is imminent, it will be mild compared to previous recessions.

Not counting the Covid recession, one of the most severe recessions was the Great Recession from 2007 to 2009.   The recession originated with disruptions in the mortgage market with certain types of mortgage-backed securities and then spread to other corners of the financial markets.   The official starting date of the recession was December 2007.    One characteristic of this recession was the significant decline in household net worth. Southern Indiana did not observe the big price declines in home values, but other regions experienced significant wealth destruction due to plummeting home values. In addition to the loss of real estate wealth, households also saw big declines in stock equity values. The combination of losses through home values and the stock market led to a big drop in household net worth.  It then took another five years to fully recover the loss of net worth. This decline in household wealth caused the consumer to retrench, and consumer spending saw significant declines. It took about 4 years for retail sales to get back to pre-recession levels.

In contrast, household net worth saw a smaller drop during the Covid recession, and value was fully recovered in less than 6 months. After that initial recovery, net worth then exploded, experiencing the biggest two-year increase in the past 30 years. Recent stock market turbulence has since produced a decline in net worth, but levels are still high relative to historic numbers.

One implication of this is that households are better prepared to experience a recession. This is one of the reasons why any impending recession will only be mild.

Net worth is only one measure of consumer health, but others draw similar conclusions regarding consumer readiness for a recession. One measure is the consumer debt situation. Household debt, as a percentage of household income, has been increasing. It reached the lowest level in 30 years back in 2021 when consumers were flush with cash from government stimulus programs. Since then, household debt has been increasing. However, levels remain under pre-pandemic levels and lower than the past two recessions prior to Covid.

Even though household debt has been on the upswing, it is under control. Delinquency rates on credit cards and consumer loans remain the lowest in the past 30 years.  Delinquency rates declined during Covid and have experienced upticks this past year. Rates are still under pre-Covid delinquency rates and remain at the lowest in 30 years.

Covid saw the highest savings rates going back to the 1960s, and perhaps among the highest of all time, approaching 35% back in 2020. Consumers did not have many places to spend or enjoy services, like dining and travel. This behavior, combined with government stimulus, produced sky-high savings rates. Savings rates have come down considerably since. The savings rate is well under the level that existed at the start of Covid and is comparable to a savings rate just before the Great Recession. The difference between now and then is with the level of checkable deposits. While savings rates have come down, checkable deposits are at record levels. The additional cash that households have accumulated will serve as a buffer for any economic downturn.

With gains in home values, households are experiencing record home equity levels, but the volume of home equity loans remains at low levels.   This means that the household has unused debt capacity and will be able to tap into this wealth.  Higher mortgage rates will discourage use of home equity, but it does remain a source of cash for the household.

Another factor that supports a shallow recession is the state of the consumer due to the labor market. The unemployment rate will increase during a recession, but this is from an already low rate of 3.5%. Job openings remain at very high levels relative to the number of unemployed with 1.7 job openings available for every unemployed person.  Job openings will also come down, but openings will also soften the blow of an economic slowdown.

If we do enter a recession, the household is favorably positioned to weather the storm.  Consequently, the recession will be mild and not nearly as deep as the Great Recession of 2007.

IU Southeast welcomes community to IUS Fest on October 29

by Member News

IU Southeast welcomes community to IUS Fest on October 29

NEW ALBANY, Ind. (Oct.19, 2022) – Indiana University Southeast is opening its campus to alumni and families throughout the region for IUS Fest on Saturday, October 29, from 11:00 a.m. to 2:00 p.m. The new event is a mixture of homecoming and fall festival, two time-honored traditions where the campus welcomes back alumni and engages students in celebrating all that is IU Southeast.

Activities will include trunk-or-treat, touch-a-truck, pumpkin painting, carnival games, spooky science experiments for the kids, animal encounters, food trucks, an alumni beer garden and much more.  There is no charge for admission and there will be free food trucks while supplies last.

At noon, celebrate senior day with the IU Southeast Grenadier Volleyball team as they take on Brescia University in the Activities Building. Across the campus will be a cornhole tournament; registration for the event is at 11:00, followed by the competition at noon.

“We are excited to welcome back our alumni and invite families from our community to celebrate fall at IU Southeast,” said Joe Glover, interim vice chancellor of advancement, alumni and external affairs. “We thank our sponsors for helping make this event possible and hope to see as many people as possible from the area showing their IU pride and come celebrate the best of the season.”

For a complete roster of events and to download and print a map of the schedule and locations for the events, go to www.ius.edu/ius-fest. Maps and food vouchers will be available on the day of the event at the information booth, located on Southern Drive, in front of the Activities Center on the south end of the campus.

Sponsors of the event include the Indiana University Alumni Association Kentuckiana Region, Clark Memorial Hospital, Libs Paving Company, and Duke Energy.

###
About IU Southeast:  IU Southeast is one of seven campuses of Indiana University. Offering more than 130 degree programs and concentrations, the scenic 180-acre campus is located less than 15 minutes from downtown Louisville, Kentucky. It currently has an enrollment of more than 4,000 students and employs more than 400 faculty members. About 400 students now live on campus in five fully furnished, lodge-style residence halls. Through an agreement with the Commonwealth of Kentucky, Indiana University Southeast offers in-state tuition to students enrolled from eight counties in the Louisville region. For more information, visit www.ius.edu. IU Southeast is a tobacco-free campus.

 

Celebration of Veterans Scheduled for November 6th in Clarksville

by Member News

The theme for our 2022 celebration will be “80 Years of Women in the Military”

CLARKSVILLE, IN (October 17, 2022) – Female Veterans will be the focus of the Town of Clarksville’s annual Celebration of Veterans on Sunday, November 6th.  The event will be held from 2:00-3:00 pm at the Veterans Place Memorial located behind Town Hall.

The theme for our 2022 celebration will be “80 Years of Women in the Military,” and will feature a nearly all-female line-up of speakers, singers, and other participants.  The keynote address will be presented by Lt. Col. Amy McGrath, USMC Ret.  McGrath served more than 20 years in the United States Marine Corps., flying more than 89 missions as a pilot in Iraq and Afghanistan.  She later went on to run for Senate and started a non-profit organization.

The event will also include a color guard, the playing of TAPS, and a performance of harpist and singer Erin Hill, a harpist & singer based out of New York City, Chicago, and Louisville, KY. She’s had a #1 album on the Billboard world chart and has played with Cyndi Lauper, Kanye West, Enya, Moby, Sinead O’Connor, a-ha, Josh Groban, and Jewel.  She has also performed for celebrities, two First Ladies, and royalty.

All local Veterans and residents are welcome to attend this special celebration.

WHAT: Celebration of Veterans

WHEN: Sunday, November 6th – 2:00-3:00 pm

WHERE: Veterans Place Memorial (Behind Town Hall) – 2000 Broadway Street, Clarksville IN

####

Economic Update: Louisville Metro Jobs Surpass February 2020 Total

by 1si NewsEconomic Development

By Dr. Uric Dufrene, Sanders Chair in Business Professor of Finance, Indiana University Southeast

The latest BLS data on metropolitan jobs show that Louisville Metro payrolls have finally surpassed the level that existed in February 2020, just before the Covid shutdown of the economy. While these are preliminary estimates and subject to subsequent revisions, the data do provide a view of the regional labor economy.  The latest report indicated that the region’s labor force showed another uptick, increasing by approximately 3,000 from July to August (non-seasonally adjusted).  The increase in the labor force was accompanied by a decline in the number of unemployed, resulting in a drop in the unemployment rate to 3.1%.

Payrolls were up by 23,000 over the year representing a 3.4% increase.  Over the past 30 years, this over-the-year difference would rank among the highest. The seasonal adjustment had payrolls increasing by 22,000 over the year and about 8,000 from July to August.  Both numbers would be considered above average. Since February 2020, payrolls are up about 4,000 on a seasonally adjusted basis.

Going back to August of 2020, the biggest gainer in jobs was the professional and business services sector, adding about 15,000 jobs. We use August 2020 as a comparison due to the non-seasonality of the data.  The bulk of the job gains in professional and business services came in the Administrative and Support and Waste Management and Remediation Services industry. Leisure and hospitality added about 11,000 jobs since then, but August 2020 was also a depressed level of payrolls. Manufacturing payrolls have increased by roughly 5,000 since August 2020, and transportation and warehousing added just under 4,000.

Thank You for Renewing Your Membership | September 2022

by 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 September 2022.

 

Quarter Century Club (25 Years or More) Member Since
Graceland Baptist Church 1970
River Hills Econ. Dev. Dist. & Regional Planning Commission 1989
Jesse Ballew Enterprises 1990
ISU Insurance and Investment Group 1992
Duke Energy 1993
Ten to 24 Years
Fifth Third Bank 2000
Koetter Woodworking, Inc. 2002
Cornerstone Environmental, Health and Safety, Inc. 2007
Oasis Solutions 2008
Dean Dorton Allen Ford, PLLC 2008
Edward Jones – Kevin Boehnlein 2010
Unified Technologies 2010
Five to Nine Years
Peyton Technical Services, LLC 2013
The Spaghetti Junction 2014
Signarama Dixie 2014
Pegasus Industries and Packaging 2014
H & H Metal Products, Inc. 2016
Knapheide Truck Equipment Co. 2016
Borden Business Park, LLC 2016
ProRehab Physical Therapy 2017
Momentum Title Agency, LLC 2017
Two to Four Years
McRae Enterprises, LLC 2018
Workwell Industries 2018
Insuramax 2019
Wooded Glen Recovery Center 2019
Cattleman’s Roadhouse 2019
Heritage Ford 2019
Mid- Southern Savings Bank 2020
Hilton Garden Inn Jeffersonville 2020
Cluckers 2020
One Year
Louisville Bats Baseball Club 2021
All Wired Up – Electric LLC 2021
Safe Deliveries Worldwide, LLC 2021
GCCS Educational Foundation, Inc. 2021
Paz Realty, KW & Dynamic Contruction 2021
Mount Saint Francis Center for Spirituality 2021
Wright Choice Home Inspection 2021
Advanz Credit Union 2021
Family Scholar House, Inc. 2021
Fairfield Inn Louisville New Albany 2021
Edward Jones: Financial Advisor Adam Miller 2021

One Southern Indiana Builds a Deeper Bench

by 1si News1si Press Release

FOR IMMEDIATE RELEASE

4100 Charlestown Rd.
New Albany, IN 47150
812.945.0266
www.1si.org

One Southern Indiana Builds a Deeper Bench.
Talented professionals committed to serving the region’s business and economic needs

NEW ALBANY, IN. (September 29, 2022)

As One Southern Indiana (1si) continues to extend its reach and influence throughout the region, the chamber of commerce and economic development organization has attracted a number of new team members. 1si’s mission is to help businesses innovate and thrive in the region. Its team of talented professionals serve businesses and the community in building upon the great momentum of economic vitality.

John T. Launius will be transitioning to the role of 1si’s Vice President, Director of Economic Development after serving Ivy Tech Community College in Sellersburg in both development and career coaching and employer connections positions.

“Ivy Tech Community College is thankful for the incredible impact John has made on our campus. His leadership and knowledge of workforce trends have been extremely helpful in moving our campus forward and he has done a tremendous job working with our donors and community stakeholders,” stated Dr. Travis Haire, Chancellor of Ivy Tech’s Sellersburg campus. “We are very excited to collaborate in his new role at One Southern Indiana as we collectively work to enhance our region’s quality of place and economic competitiveness.”

In his new role, John will direct activities focused on growing the business community, including business attraction, retention and expansion, as well as planning for future economic needs. Prior to serving in higher education, John worked in regional economic development activities for Greater Louisville, Inc.

Amber Miller has been promoted to the position of Director of Engagement after serving as 1si’s Manager of Events and Special Programs, where she excelled in expanding the organization’s offerings, including many new virtual options during the global pandemic. In her new position, Amber will be taking the lead on developing, building and maintaining relations with 1si’s investors, members and customers.

Jon Pollock joined the 1si team last month as the Director of Programs, Events and Groups. Jon has extensive experience in managing all aspects of public and private events from his previous positions, most notably with Indiana University Southeast and the Kentucky Derby Festival. Jon earned his Certified Festival and Event Executive credential through the International Festivals and Events Association in 2016.

Melissa Sprigler also came on board in August as the 1si Business Resources Coordinator, where she will interface with 1si members at events, programs and workshops, as well as managing the 1si Ambassador program and coordinating ribbon cuttings and groundbreakings for new businesses. Melissa most recently worked as the Business Manager for Clinique in Clarksville.

Vanessa Braswell joined the 1si team last week as the Operations Coordinator where she will use her customer service skills in addressing the needs of members, vendors and customers. Her teammates – or internal customers – will also benefit from her knowledge with database utilization and communications details. Vanessa comes to us most recently from Millennial Title after several years in the real estate profession.

Matthew Zicher will also join the 1si team as of October 1 as the organization’s Member Relationship Manager. In this role, Matt will focus on growing and retaining 1si’s members by connecting them to resources that will help them with their businesses. Matt most recently worked for Wetterer & Co, and at CSC, where he directed many aspects of event management at some of the region’s biggest events.

Wendy Dant Chesser, President and CEO of One Southern Indiana, enthusiastically noted, “We are excited about the economic opportunities on the horizon in Southern Indiana, and adding this talented group of professionals to our existing team gives us added capacity to maximize the growth we see ahead for our businesses and communities.”

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:

Wendy Dant Chesser
President & CEO, One Southern Indiana
Wendy@1si.org
812-945-0266

-30-

RxLightning to Expand with Headquarters in New Albany

by 1si News1si Press ReleaseEconomic Development
Southern Indiana technology company is positioned to transform patient care in the U.S.

NEW ALBANY, IN. (September 27, 2022)

In another sign of Southern Indiana’s growing appeal to the tech industry, RxLightning, an award-winning technology company, is establishing expanded headquarters in downtown New Albany, expecting to add up to 175 new jobs over several years paying nearly twice the average wage in Floyd County.  The company will invest heavily in software, hardware, and more in a three-story historic building at 227 Pearl Street, at the corner of Market and Pearl in New Albany.

RxLightning’s platform streamlines the specialty drug enrollment process for both doctors and patients, reducing paperwork and cutting the enrollment time from weeks to hours. The digitized, single solution, which is free for providers and patients, supports more than 1,200 specialty medications, helping patients get access to the treatments they need even faster. RxLightning has been named one of the fastest growing companies in Louisville by Louisville Business First, and the company received the tech product of the year and startup of the year awards at the 2022 TechPoint Mira Awards earlier this year.
“This is an incredibly exciting move for RxLightning,” said Julia Regan, co-founder and CEO of RxLightning. Our new expanded headquarters will allow us to continue our growth and work collaboratively to accelerate the speed at which patients get access to medicine they need.  The State of Indiana, the City of New Albany and One Southern Indiana have been amazing partners in this endeavor.  We considered other locations, but we’re thrilled to remain here in southern Indiana.”

Pending approval from the Indiana Economic Development Corporation (IEDC) board of directors, the IEDC will commit an investment in RxLightning of up to $4 million in conditional tax credits based on the company’s creation plans. The tax credits are performance-based, meaning RxLightning is eligible to claim incentives once Hoosiers are hired. In addition, the City of New Albany offered RxLightning training grants totaling $120,000 equally divided over five years.

“This news represents another milestone for the city and the region,” said Jeff Gahan, Mayor of the City of New Albany. “We welcome RxLightning to our downtown as they continue to build on their success and growth.”

“RxLightning is a perfect example of how Indiana innovators are advancing the industries of the future,” said Indiana Secretary of Commerce Brad Chambers. “The company’s solutions, powered by skilled and hardworking Hoosiers, are helping patients access life-saving treatments. Indiana is a leader in medical devices and pharmaceuticals, and now we’re the ideal destination for growing health tech companies like RxLightning.”

Wendy Dant Chesser, President and CEO of One Southern Indiana said, “RxLightning CEO Julia Regan was selected last month as an Endeavor Entrepreneur through a unanimous vote at the 94th International Selection Panel (ISP) held in Greece, the first woman in the Midwest to achieve that honor.  Her company’s growth continues to be remarkable,

and her commitment to this region is a testament to the ongoing vitality of southern Indiana. As always, 1si has been delighted to be a part of this process, and looks forward to assisting in any way we can.”

About RxLightning

RxLightning was co-founded by CEO Julia Regan and CTO Brad Allen to create a world where every patient gets accelerated access to the therapies they need, through the creation of a single destination for specialty prescriptions that makes the enrollment process easy, automated and as seamless as possible.  The free-to-provider digital platform streamlines the specialty medication enrollment process in every therapeutic area to reduce paperwork, eliminate mistakes, streamline communication and accelerate the time to life-altering therapies for patients.

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 and Advocacy. For more information on One Southern Indiana, visit www.1si.org.

Contact:     

Mary Jo Wallin-Orlowski
Director of Business Retention, Expansion and Talent
maryjo@1si.org
812-945-0266

Julia Regan
Founder and CEO, RxLightning
julia@rxlightning.com
1-855-485-0579