Economic Update | An Employment Report for All

by with No Comment 1si NewsEconomic Development

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

The Super Bowl of economic indicators was released last week, and there was news for the pessimists and optimists. On the negative side, payrolls rebounded from the prior month, increasing by 142,000, compared to 114,000 the prior month. While the 142,000 gain was an uptick from July, it was less than the consensus forecast of 165,000. Manufacturing, in a slump for more than a year, saw a decline of 24,000 jobs. The decline was attributed to a 25,000 drop in jobs in durable goods manufacturing.     

Health care continued the upward rise in job creation, adding another 31,000 payrolls. Construction saw an unexpected pick-up, adding 34,000 jobs, higher than the 12-month average of 19,000. The average workweek increased from 34.2 hours to 34.3, and average hourly earnings increased by .4%, higher than anticipated.    

On the plus side, the unemployment rate ticked back down to 4.2%. The labor force expanded by 120,000, but employment increased by 168,000. This combination led to an overall decline in unemployment and the unemployment rate. Last month, the unemployment rate increased, and this was partially attributed to the spike in temporary unemployment. Temporary unemployment fell again this month, and this was one of the reasons for the unemployment rate decline.   

Prior month revisions shaved 86,000 in payrolls from the prior two months. This slower payroll growth will be closely scrutinized by the Fed at the September meeting, along with the higher-than-expected increase in average hourly earnings.   

More signs of a labor market slowdown came last week with the release of the Job Openings and Labor Turnover Survey (JOLTS).  Job openings declined to a level last observed in early 2021 and are almost on par with the number of unemployed. Openings exceeded the number of unemployed by double back in early 2022. The balance between openings and unemployed does reflect the normalization of the labor market, but we should expect the number of unemployed to exceed job openings as we move through 2024 and into 2025.    

Turning to Indiana and Kentucky, we are seeing an overall increase in unemployment rates. Kentucky’s unemployment rate is up to 5.3%, compared to 4.6% last year. Indiana’s unemployment rate is up to 5%, up from 3.7% last year. Job growth in both states has slowed, with manufacturing showing declines from last year. Indiana manufacturing jobs are down 6,000 and Kentucky down by 4,000. 

Softening is also evident across Indiana and Kentucky metro regions.  All Kentucky metro areas now have an unemployment rate that exceeds 5%, except for Lexington. The highest unemployment rate is Elizabethtown at 5.5%, and Lexington had the lowest at 4.3%. Indiana has several metro areas with unemployment rates well above 5%.   Kokomo has the highest at 7%, and Muncie is just behind with an unemployment rate of 6.3%.   

40-year high inflation resulted in higher interest rates, impacting rate-sensitive sectors like manufacturing, and this shows up through weaker payroll growth or losses.   One example of the impact of higher interest rates on IN and KY manufacturing is in the auto industry.  Higher interest rates suppressed auto sales due to the higher cost of financing.  Kentucky and Indiana are heavy auto manufacturing states, and the historically low auto sales nationwide also impact manufacturing employment in both states.  National manufacturing has been in a slump, and heavy manufacturing states, like Indiana and Kentucky, are feeling the effects of this slower manufacturing environment. 

We can still expect a rate reduction of .25% by the Fed at their September meeting. Some are calling for a reduction of .5%, but the economy is not weak enough to justify it.   We’ll likely see similar cuts of .25% in November and December. Last week saw a drop in the 10-Year Treasury yield, so we will likely see additional progress in lower mortgage rates. Declining interest rates will provide a stimulus to interest rate sectors, and the economy overall.  The consumer continues to show some resilience, and while we continue to believe that the economy will be in a soft patch, we are still not ready to call a recession. 

Now Seeking Nominations and Applications for the 2024 ONCE Awards!

by with No Comment 1si News
AWARD CATEGORIES
  • Duke Energy Kevin Hammersmith Community Leader
  • Axiom Financial Strategies Group James W. Robinson Young Professional of the Year
  • Kightlinger & Gray, LLP Sam Day Professional of the Year
  • Rising Star Award is given to a company who has been in business from 1-5 years.
  • Cherry Bekaert Business of the Year Award for companies with 50 or less employees
  • German American Bank Business of the Year Award for companies with 51 or more employees
  • Centra Credit Union Non-Profit Program of the Year
  • Ivy Tech Community College DE&I Initiative Award
  • Minority Business of the Year
  • Harding, Shymanski & Company, P.S.C. Manufacturer of the Year

NOMINATE

If you know an individual or organization that should apply for one of the following ONCE Award categories, click here to nominate them. 

APPLY

If you would like to apply for one of the categories, click here to complete the application.

The 2024 ONCE Awards will be held on Thursday, November 14th at Caesars Southern Indiana so SAVE THE DATE!

Thanks for Renewing Your Membership | August 2024

by with No Comment Thank Your for Renewing Your Membership

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

Quarter Century Club (25 Years or More)Member Since
Frank Stemler & Sons dba Stemler Plumbing1977
AAA Hoosier Motor Club1984
Chase1988
Community Foundation of Southern Indiana1995
Chemtrusion, Inc.1996
Renaissance Design Build, Inc.1999
  
Ten to 24 Years 
Youth Link Southern Indiana2004
Caesars Foundation of Floyd County2005
Mariner Wealth Advisors2005
Impact Sales Systems2007
Talis Group, Inc.2007
Northern Continental Logistics2008
American Beverage Marketers, Inc.2009
C3 Tech2009
Town of Clarksville2009
HJI Supply Chain Solutions2010
Lindsey Wilson College2010
LifeSpan Resources, Inc.2012
Lotus Sign & Design2012
Brown-Forman2014
World Trade Center Kentucky2014
  
Five to Nine Years 
Louisville Orthopaedic Clinic2015
Knapheide Truck Equipment Co.2016
Louisville Zoo2016
South Central Regional Airport Authority2016
Groups Recover Together2017
PMC Regional Hospital2017
Franklin Pest Solutions2018
KY-IN Paralyzed Veterans of America2018
McRae Enterprises, LLC2018
Cattleman’s Roadhouse2019
Progressive Material s2019
Wooded Glen Recovery Center2019
  
Two to Four Years 
Big O Tires – Sellersburg2020
Conrad Brothers Moving & Storage2020
East End Crossing Partners2020
Hilton Garden Inn Jeffersonville Louisville North2020
Idemitsu Lubricants America Corporation2020
Avant-Garde Turnstiles2021
Harry’s Taphouse and Kitchen2021
River City Bank of Kentucky2021
Southern Indiana United Soccer Club2021
Stein Law2021
Zoeller Pump Company2021
CertaPro Painters of Kentuckiana2022
EightTwenty2022
Lamar Advertising2022
Louisville Low Voltage LLC2022
RQAW Corporation2022
Shrewsberry & Associates, LLC2022
Taft Law2022
TNT Fireworks2022
Upland Brewing Company2022
  
One Year 
AJ Business Consulting2023
Alee Solutions 2023
Charleston Place at New Albany2023
Classic Truss and Wood Components, Inc.2023
Cornerstone Insurance Agency, LLC2023
Lilys SoftWash LLC2023
Office Resources, Inc.2023
Resort 4 Paws2023
Unbreakable Bonds Catering LLC2023
Versa Designed Surfaces2023

Welcome New Members | August 2024

by with No Comment Welcome New Members

One Southern Indiana would like to welcome the following new members that joined or rejoined during the month of August 2024.

Economic Update | And Still No Recession

by with No Comment Economic Development

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

The Federal Reserve received the data it needed to finally pivot from an inflation emphasis to a focus on employment, and along with that, a signal of the first interest rate cut.  The last CPI (Consumer Price Index) came in weaker than expected, both at the headline number and the core rate (CPI minus food and energy). The PPI (Producer Price Index), issued just a day before CPI, also came in softer than expected. The favorable inflation readings, along with the weak employment report for July, combined to provide a green light to the Federal Reserve for a potential rate cut come September. Equity markets approved and are again pushing all-time highs. The market meltdown from early August is a distant memory.   

Emerging from the pandemic has led to challenges for the economic forecasting industry. Predictions of recessions have yet to materialize. The last national employment report, for example, triggered the so-called Sahm Rule, which basically says that the economy is in a recession if the three-month moving average of the U.S. unemployment rate rises by more than .5 percentage points from the lowest 3-month average unemployment rate over the past 12 months. It has been historically accurate and only produced two false positives since 1959. 2024 may be the 3rd. 

The yield curve, quite accurate for every recession since the early 80s, has also produced a recession signal that has yet to be accurate. The yield curve inverts when rates on 10-Year Treasury securities are lower than shorter-term rates, such as the yield on 2-Year Treasuries. The current yield curve became inverted back in July 2022, and a recession has not been declared. My outlook back in November 2022 included a recession call for 2023, and clues from the yield curve was one of the primary reasons. Higher interest rates have slowed the economy, as intended, but not to the extent of a recession declaration.   

Another measure, industrial production, was also flashing a possible recession signal starting last year.  Industrial production, which measures the output in manufacturing, mining, and utilities, coincides with a recession when year-over-year changes become negative. Going back to the 1920s, a negative change in industrial production not resulting in a recession has only occurred on three separate occasions. Over the past year, year-over-year changes in industrial production have hovered around 0, with 9 of 12 months being negative. So, the current cycle may be the 4th time that industrial production has turned negative, but absent a recession. 

Another economic indicator with some information about the state of the economy is new claims for unemployment.  As the economy slows, layoffs increase, leading to higher unemployment rates, less consumer spending, and an upward spiral of overall slower growth.  For unemployment claims, the number to watch is about 350,000. This is not a precise rule, but when new claims for unemployment approach 350,000 or surpass that level, a recession may be likely. The latest claims for unemployment were at 232,000, and the highest level for 2024 was 243,000.    

During a recession, consumers are expected to spend less on goods and services. But this is not always the case. In the 2001 dot com recession, spending on both goods and services increased from recession start to recession end.   During the Great Recession, spending on services remained just about flat, but goods spending saw noticeable declines. In the quick Covid recession, spending on both goods and services plummeted, but quickly recovered and saw subsequent spikes in both goods and services spending to all-time highs. Goods spending saw some declines from 2023 to 2024 but has stabilized since.  Services spending continues unabated. Based on recessions going back to 2001, reductions in both goods and services spending are not necessarily present during a recession, however.    While we can probably rule out a complete collapse of the consumer, softening in both goods and services spending is still likely.  

Data continue to point to an overall softening of the economy, but not quite a recession, just yet.  The soft landing is in sight once again.   

Nonprofit Spotlight | Jeffersonville Township Public Library

by with No Comment 1si NewsNonprofit Spotlight

Jeffersonville Township Public Library
Jefflibrary.org

211 E. Court Avenue
Jeffersonville, IN  47130
812-285-5633
Contact person: David Seckman, Executive Director

1312 Eastern Blvd.
Clarksville, IN  47129
812-416-8128
Contact person:  Dave Thomas, Foundation President

Vision Statement:
Sharing the Joy of Lifelong Learning by Connecting People and Ideas

Year established:
1852. The Jeffersonville Township Public Library has its roots in the workingmen’s library movement of the early 1800’s.

Counties/regions serviced:
Southern Indiana, with an emphasis on the Clark County cities of Jeffersonville and Clarksville, while enjoying reciprocity agreements with surrounding counties and their library systems.

Focus areas:
The Jeffersonville Township Public Library (JTPL) is a vibrant cultural and educational, community destination that welcomes everyone to gather, engage, create, learn, and grow.

Impact in Community:
The Jeffersonville Township Public Library connects people and ideas through experiences, technology, and information in the pursuit of lifelong learning.

Volunteer Opportunities:
Volunteer at the library, or with the Friends of the Library, serve on the Library Foundation Board or as a Trustee.

How 1si members can help:
There are a multitude of ways to help YOUR library that will enhance your business or organization. Planned Giving, Corporate Donations, Payroll Deduction, Point of Sale contributions or becoming a corporate sponsor of the Summer Reading Program.

Offer library cards to your employees, use our resources to obtain hardbound and audio books, puzzles, movies, music and documentary CD’s, free tutoring, online database access, computer labs, programs, training, job postings and search resources, historical, business, geographic, scientific, and genealogical research, make inexpensive purchases of all media types from our massive used bookstore and book free rooms for study or group meetings!

Attend the 1si Non-profit Round-table discussion on August 14th, at the library. Jeffersonville Township Public Library at 211 E. Court Avenue, Jeffersonville, IN 47130. Beginning at 8:30 AM and held in our North Program Room (immediately on your right when entering the library), we will be concluding discussions on Board Involvement and providing coffee and donuts!

Additional information:
Single or repetitive giving opportunities are available online, in-person, by mail, electronic (wire) transfer, wills, bequests, endowment contributions, stock, security, life insurance, real estate, or artifact donations to the Jeffersonville Township Public Library Foundation.

We welcome the opportunity to work with your investment or tax professional to arrange an IRS section 135 tax exempt donation. Click here to donate, or contact us:

Donate: http://www.jefflibrary.org
Contact: foundation@jefflibrary.org

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

###

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 

 

### 

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