Auto company ties progress to Obama’s speech
By Abbey Doyle The Herald Bulletin
ANDERSON, Ind. — Bright Automotive is asking that its Department of Energy loan application be swiftly processed so it can “heed President Obama’s call to create American jobs and spur the development of alternative energy technology.”
Anderson-based Bright has been waiting for word on a [...]
$2.7 Million Flagship Grant May Bring New Jobs
On Monday, U.S. Commerce Secretary Gary Locke announced that the Economic Development Administration, or EDA, has awarded a $2.7 million grant to the Flagship Enterprise Center and the city of Anderson.
The grant is funded by stimulus dollars and will be used to build a second accelerator building for start-up companies.
“This grant will help create new jobs and boost private investment in the Anderson region by building a facility that will house early-stage businesses that are working to establish themselves in the community,” Locke said.
Charles Staley, president and CEO of the Flagship, said the grant came at just the right time. “Timing of the grant could not be better. The Flagship is at near full occupancy and we are having ongoing discussions with potential investors and companies that match our areas of experience.”
The Flagship’s current 70,000-square-foot accelerator building is at capacity with the company Altairnano, according to Anderson Director of Economic Development Linda Dawson.
The grant will be used toward the construction of a second building, she said, which will attract more businesses to Anderson, with the promise of new jobs.
Staley said the project will cost $4.1 million and the Flagship will secure a 10-year loan in the amount of $724,000 to help with the cost.
The city of Anderson has designated $900,000 for the project.
Though no companies have yet signed on to occupy the new building once completed, Staley said the Flagship will look to fill the compound with companies aimed at developing new technology and alternative energy sources.
The new facility will be located on 73rd Street between the railroad crossing and the Nestlé plant, Staley said.
Staley said the new building will spur the creation of about 100 construction jobs and 150 to 400 primary jobs during the first five-year cycle.
Dawson estimated that 1,000 to 2,000 spin-off jobs would be created among area businesses tapped to contract with the new companies located at the new facility.
The Flagship has an emphasis on attracting companies that create alternative energy or new technology, Dawson said.
The Flagship shows no signs of slowing down, according to Dawson. “When you consider the recent excitement about alternative energy and the demand the public is going to put on businesses to deliver alternative energy products, that demand is right exactly in the scope of what the Flagship is all about.”