Southern Indiana Community Partners Loan $1,152,552 Million to Businesses in Need

by 1si News1si Press Release
Local Government, Foundations, Private Donors and One Southern Indiana Join Together to Disburse 123 Loans

June 25, 2020 (New Albany, Ind.) – It has been three months since Governor Holcomb announced an executive “Stay at Home” order for the citizens of Indiana.  Since that time, small businesses throughout the state have struggled to stay afloat during the COVID-19 Pandemic and subsequent economic downturn.  Recognizing the need for direct assistance to small businesses, One Southern Indiana (1si), the chamber of commerce and economic development organization for Clark and Floyd counties, along with the Caesars Foundation of Floyd County and the Community Foundation of Southern Indiana, joined together to raise funds to assist.

Response was overwhelming, with funding coming from the three initial partners as well as the BlueSky Foundation, Metro United Way, the Clark and Floyd County Commissioners, the Cities of Jeffersonville and New Albany and the Towns of Clarksville and Sellersburg.  Funding was also received from private individuals who wished to remain anonymous. 

There were three loan products offered with the funds raised.  The first, the COVID-19 Small Business Emergency Forgivable Loan Fund, approved 44 loans for a total of $419,257, which was dispersed to approved applicants within one week.  Of that amount, $199,000 was loaned to Clark County businesses and $220,257 to businesses in Floyd County. 

Donum Dei Brewery was one of the recipients of this program and owner Richard Otey said, “ Donum Dei would like to thank Jerry Finn and the Caesars Foundation of Floyd County, One Southern Indiana and all of the other organizations that contributed to the COVID-19 Small Business Emergency Forgivable Loan.  This loan will allow us to stay open and maintain our staffing at current levels.  It will also give us the opportunity to replenish our raw materials that have been depleted by making hand sanitizer for the community.”

The second loan product, called the Community and Cultural Relief Loan Program, was a zero-interest revolving loan program.  From that fund, a total of 44 businesses received $561,295,  with $175,946 loaned to Clark County businesses and $385,349 loaned to Floyd County businesses.

Ross Wallace, owner of New Albany’s Him Gentleman’s Boutique received a loan from this program.  He commented, “This loan means so much to me! Thank you, Caesars Foundation, for this amazing opportunity. After Him Gentleman’s Boutique being closed for almost two months and Derby being postponed, the business saw a significant loss of revenue.”

The “Jeffersonville Sustains” Forgivable Loan Program was the third loan product providing 35 businesses with $172,000 in direct assistance.  All recipients of this program were located within the city limits of Jeffersonville. Phillip and Stefanie Caldwell, owners of Hoopsters Sports Grill, were recipients of this loan and said, “We are grateful to live in an amazing community, that during this trying time in our country, steps up and helps their small businesses be able to keep their doors open. The money that has been loaned to us will help us pay our utilities, mortgage and keep buying supplies.  We will continue to pay the generosity forward.”

Wendy Dant Chesser, president and CEO of 1si, was pleased with the efficiency and results of the program, and said, “We took on this challenge knowing that every business needed help, and we would not be able to assist them all.  But everyone in Southern Indiana can be proud of this effort in our collective time of need.  Not only did we have a multitude of partners step forward to support the fund, but we also had 1si and Southeast SBDC staff members assisting loan applicants, volunteers reviewing and approving the loans and many others who helped get the word out to the community at large.  This is an incredible accomplishment and its success can be attributed to everyone involved.”

About One Southern Indiana:

One Southern Indiana (1si) was formed in July of 2006 from the Economic Development organization serving Clark and Floyd counties and the Chamber of Commerce.  1si’s mission is to provide the connections, resources and services that help businesses innovate and thrive in the Southern Indiana / Louisville metro area.

Since its inception, the organization has evolved to include a three-prong approach to serve its members and investors.  Business Resources, as the chamber side of the organization, encompasses membership, signature events and programs which support and encourage business growth;  Economic Development works to grow the regional economy through the attraction of new commerce and assists with retention and expansion of existing businesses;  Advocacy supports businesses at the government level by engaging in the initiatives to preserve, protect and promote a business friendly environment free of obstacles to growth and development of commerce.  More information on One Southern Indiana is available at www.1si.org.

 

Media Contacts:
Suzanne Ruark
Director, Marketing and Communication
One Southern Indiana
(812) 945-0266
SuzanneR@1si.org  

Northwest-Ordinance logo

Northwest Ordinance Distilling Announces Nearly $40 Million Expansion Plan

by 1si NewsEconomic Development

Expansion projected to bring up to 50 new jobs to area

NEW ALBANY, IND. (May 27, 2020) Northwest Ordinance Distilling, a distilled spirits bottling facility, announced its intention to expand its production facility in New Albany, Ind.  The facility, located at 707 Pillsbury Lane, was purchased in June of 2018 and is the former General Mills Pillsbury plant, which closed in 2016.

The $39.5 million expansion will include $7.5 million in building improvements and $32 million in new processing and bottling lines.  The expansion will allow the company to add many new products to its bottling  line and will result in the addition of 50 full time employees.

“We’re excited to be able to grow our Northwest Ordinance Distilling again,” said Jeff Conder, vice president of manufacturing. “The State of Indiana, the City of New Albany, and One Southern Indiana have all been great partners to us and created a very business friendly environment.  We look forward to expanding both our manufacturing footprint and our workforce with steady, good paying jobs.”

The Indiana Economic Development Corporation (IEDC) offered Sazerac of Indiana LLC (Northwest Ordinance Distilling) up to $500,000 in conditional tax credits based on the company’s job creation plans. These incentives are performance-based, meaning the company is eligible to claim incentives once Hoosiers are hired.

“Today’s announcement is another encouraging sign of positive economic momentum in Indiana,” said Indiana Secretary of Commerce Jim Schellinger. “As we work to get our state’s economy back on track in the midst of so much uncertainty, we are encouraged by the growth that continues across the state, and we are so grateful for Northwest Ordinance Distilling’s commitment to providing quality job opportunities to Hoosiers in southern Indiana.”

The company will be seeking real and property tax abatements, which allow the company to phase in its increased property taxes over time.  The tax abatements offer the company an estimated savings of $2.26 million over the next ten years. The New Albany City Council is scheduled to vote on final approval of the company’s local incentives next week, with the project contingent upon the council’s approval.

“The Northwest Ordinance Distilling has been a tremendous partner for the City of New Albany since their reopening of the General Mills facility in 2018.  Not only do they employ more than 100 workers at a pay averaging nearly 20 percent above the Floyd County average, they have also invested approximately $2 million to reactivate the CSX rail line that originally served the plant,” said New Albany Mayor Jeff Gahan, “I am excited about the possibility of the expansion and look forward to the Council’s decision on June 1st.”

Northwest Ordinance Distilling has stepped up in the fight against COCIV-19, producing hand sanitizer for some of the world’s largest organizations in the healthcare, government, military, retail, distribution, airline, pharmacy and banking industries.  In addition, the company played a part in the donation of nearly 15,000 N95 respirator masks to the health care industry last month.

Wendy Dant Chesser, president and CEO of One Southern Indiana said, “Northwest Ordinance Distilling choosing to locate its new facility in New Albany was the biggest business news story in 2018. Now, after only two years, the company is again exhibiting confidence in our workforce, government and community, by choosing to expand here. This is a great sign for the recovery of Southern Indiana from the current economic crisis and the company’s prestige and continued success is a boon to the portfolio of industries in the area.  As always, 1si is ready to assist them in any way we can.”

About Northwest Ordinance Distilling

Northwest Ordinance Distilling is part of the Sazerac family, one of America’s oldest family owned, privately held distillers with operations in the United States in Louisiana, Kentucky, Indiana, Virginia, Tennessee, Maine, New Hampshire, South Carolina, Maryland, California, and global operations in the United Kingdom, Ireland, France, India, Australia and Canada.