Maximum Business - Aug/Sep 2014 Edition

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Products made in the Whitewater Valley are used locally, but some are sold for use around the world. And two local economists suggests there are ways for Wayne and surrounding counties to become more globally visible. Some ideas they have are setting up more Sister City relationships in Brazil, Russia, India, China and South Africa — the five countries leading the world’s economic growth. They also recommend that Richmond’s colleges do even more to attract international students and to make them part of community life. Not only might some of those students decide to stay in the area, the diversity they add might make the area more appealing to outsiders. Earlham, IU East, Ivy Tech Community College and Purdue University College of Technology at Richmond play an important role in building global connections for the local economy. Learn more about these connections in this issue of Maximum Business.

GLOBAL CONNECTIONS

Financing your small business exports Many small businesses think they are too small to compete in the world market. In fact, 97 percent of all exporters are small businesses. The federal government has loans, insurance and grant programs to help you become an exporter or expand your exporting business. The U.S. Small Business Administration is one of the fedSHARON eral agencies that HARVEY have programs to assist Indiana small businesses thinking about exporting to grow their business.

determines eligibility and provides a loan approval in 36 hours or less. » The Export Working Capital Loan provides advances for up to $5 million to fund export transactions from purchase order to collections. This loan has a low guaranty fee and quick processing time. » SBA’s International Trade Loan Program provides small businesses with enhanced export fiSBA Export Loan Programs nancing options for their export » SBA Export Express offers transactions. The ITL is designed financing up to $500,000. It is the to help small businesses enter and simplest export loan product ofexpand into international markets fered by the SBA and allows partic- and, when adversely affected by ipating lenders to use their own import competition, make the informs and procedures. The SBA vestments necessary to better com-

pete. The ITL offers a combination of fixed asset, working capital financing and debt refinancing with the SBA’s maximum guaranty— 90 percent— on the total loan amount.

Other Federal Export Financing Programs

The federal government has several additional loan programs, grant and contract opportunities, and insurance programs for exporters. To find the program that best suits your export needs, visit Business.USA.gov. For more information on how the SBA can help you with your exporting needs contact the Indiana District Office at (317) 2267272. The Indiana District Office can also navigate you through the process of updating your business plan and financials to reflect the exporting phase. Sharon Harvey is public affairs specialist with the Indiana District Office of the U.S. Small Business Administration.

INDEX Page 3..... Holland Colours Americas president says women have duty to make a mark in business. Page 4..... 2 local economists say expanding global ties will help area grow Page 7..... Resources available to help small manufacturers reach world market Page 8..... Centerville company’s products go to more than 75 countries. Page 10..... Businessman describes work as an international regional manager for manufacturer. Page 12..... U.S. hopes to gain a bigger share in growing African economy Page 15..... Take advantage of the resurgence of an export incentive Page 16..... U.S. markets manage to survive global turmoil Page 18..... Connecting quality of life to the Wayne County economy Page 19..... Richmond playing host to September neighborhood conference Page 20..... Calendar features regional, local events and opportunities for sales

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Page 21..... Local companies mark donations, awards and ribbon-cuttings

FLORIDA TODAY FILE

Port Canaveral expects to boost cargo business with a wider, deeper main shipping channel and a barge-to-rail plan.


GLOBAL CONNECTIONS

Holland Colours leader values connections together and get a lot done when people trust you.� Tineke Veldhuis says women are a She describes herself as “open, powerful force — in business and in consistent, maybe balanced. ... Maythe world. be another thing needs to be added — Veldhuis has experience of both. and that’s passion.� A native of Holland, Veldhuis said Holland Colours, Veldhuis said, she inherited a sense of adventure has a unique management style. All from her father, who loved to travel. employees are shareholders and She had no big career plans when she everybody has a voice. Because of entered the business world, but disthat, she said, her personal strength covered a talent and a liking for it. is only part of the picture. After starting up companies in “Everybody has to put a lot of England and Hungary, she joined the energy and effort in it to make all Asian division of Holland Colours, that come together.� manufacturers of coloring mixtures What prepared you most for the used by producers of plastic and job you do? silicon bottles for beverages, cases “It was not really planned out for cosmetics, siding for buildings very much,� Veldhuis said, but cited and more. her family value of treating everyIn 1999, Veldhuis was asked if she one as equals and her father’s advenwanted to help establish Holland turous side as part of her success. Colours Americas in Richmond, “I just rolled into (business),� she where she still serves as president. said. “Basically, my whole life has Have you had a role model in been like that.� your life? What is the most fun or rewardVeldhuis said she didn’t have one ing part of your job? particular role model. “I think when you are happy in “There are many people, of your work ... you have a lot of fun.� course, who influence you. ... But I As for the rewarding part of her think I’m pretty much myself. ... job, Velduis talked again about her “I think ... women in general are co-workers — “that you can achieve role models. I think women ... have a something with very good cooperalot of power. They can decide what tion. You create an environment ... happens in the world. Mothers, for that makes people really want to go example, influence their children.� for it. What do you believe is your “And, of course,� she added, “remain strength? sults.� Veldhuis credits her strong sense What do you wish people knew of self. about what you do? “I think that helps building trust. Although Holland Colours is well You can really build up good connec- known in its industry, many area tions with people when they don’t residents are unaware of what the PALLADIUM-ITEM FILE have to wonder, ‘What will she be See HOLLAND, Page 14 Tineke Veldhuis is president of Holland Colours on Progress Drive. like today?’ ... You can work nicely By Louise Ronald

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GLOBAL CONNECTIONS

2 local economists offer global view www.pal-item.com § Maximum Business §Palladium-Item Media Group, AUGUST/SEPTEMBER 2014

Earlham, IU East professors say Whitewater Valley should do more outreach for success

R

By Louise Ronald

ajaram Krishnan and Li-tao Zhong are economists who work in Richmond.

Krishnan teaches at Earlham College. Zhong is on the faculty at Indiana University East.

Krishnan is from India and first came to the United States in 1984 to study for his doctorate. He started at Rice University in Houston, Texas, then transferred to Boston University. He taught at Tufts University in Medford, Mass., and Grinnell College in Iowa before coming to Richmond in 1999. Zhong came from China to Ohio in 2001 and earned a master’s in

PALLADIUM-ITEM FILE

International students share a laugh at Earlham College. Bringing more students from around the world to area colleges is one way to build global connections for the economy.

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GLOBAL CONNECTIONS First impressions

LOUISE RONALD/PALLADIUM-ITEM

LOUISE RONALD/PALLADIUM-ITEM

Rajaram Krishnan in his office at Earlham College. Tablets such as the one he is using have drawn the world closer together, he said.

Li-tao Zhong works in his office at Indiana University East. Zhong said the region needs to expand its connections to the global economy.

of Marvel Industries, a company that closed its Richmond plant in 2008. A Stats Indiana map showing direct foreign investment commitments from 2011 to 2013 shows no activity in Wayne, Randolph, Union,

Fayette, Franklin or Henry counties. “I think we should promote ourselves to the outside world,” Zhong said. “It’s hard for people in other countries to know about Richmond, so we need to reach out.”

Thirty years ago, Krishnan rode along a two-lane road in Bangalore (now Bengaluru) in southern India to catch a plane from the city’s tworoom airport and fly to JFK in New York. “I distinctly remember the sense of, ‘Oh, my God,’” he said. He was overwhelmed by all the cars speeding along the multiple-lane highways. Zhong’s first impression of the United States was similar, even if it was 17 years later. “I saw more cars than people,” he said. Zhong grew up in Chengdu, a city of 10 million in Sichuan Province in central China. He said it still feels strange not to see people walking on the street. “In China, we walk everywhere.” Krishnan also noted how spread out things are in America. India, he said, has only one-quarter the land mass of the United States, but four times its population. Krishnan has had the opportunity to

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business administration from Baldwin Wallace University before going for his doctorate at the University of Southern Illinois. He taught in St. Louis before starting at IU East in 2012. “I feel like this area is kind of isolated from the rest of the world,” Zhong said. But Krishnan remembers when the area was much more isolated. It is now possible, he pointed, to have a morning appointment with a doctor from India or some other part of the world, then go to lunch at a Thai, Japanese or Vietnamese restaurant — not to mention Mexican or Chinese. “You’re suddenly encountering people from across the global spectrum,” said Krishnan. “Richmond is blessed with a tremendous amount of labor that has come in from the outside.” That might be, said Zhong, but Richmond is lagging behind much of the state in direct foreign investments. The most recent investment listed on the Stats Indiana website is from the United Kingdom in 2007. That was $6.3 million for expansion

See GLOBAL, Page 6

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GLOBAL CONNECTIONS

ASSOCIATED PRESS FILE

Both economists were stunned by the number of cars they saw when they first arrived in the United States.

Global Continued from Page 5

lead groups of American students on study abroad in India and watching their first impressions. “Life in India simultaneously bombards all the senses,” he said, noting the bright colors, loud noises and pungent smells. “It first hits them and they’re so excited, but after a few months, they get used to it.” Sometimes the students find readjusting to life in the United States uncomfortable, but Krishnan said he has no difficulty shifting from one place to the other. “I can sort of just turn on a dime and adapt.” Krishnan classified himself as a “global migrant,” part of a population he sees growing around the world, though perhaps less among Americans than among people of other countries. Most people in the U.S. still see international travel as exotic, he said, but that is something he thinks will change in the future. The way we learn about life in other countries has changed over the years, Krishnan said. When he was growing up, “one’s impression of America was either what people told you or what you saw in terrible movies.” Media and online exposure has changed all that. “I think the world has shrunk a great deal,” he said.

Making new connections

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Zhong suggests there are ways for the region to become more visible in the world. After hearing about Richmond’s Sister City relationship with Unnan City in Shimane Prefecture, Japan,

LOUISE RONALD/PALLADIUM-ITEM FILE

Mayor Yuichi Hayami of Unnan City in Shimane Prefecture, Japan, and Richmond Mayor Sally Hutton iron out details of signing a Sister City agreement with the help of interpreter Daniel Broderick.

ASSOCIATED PRESS FILE

The New Century Global Center stands in the suburbs of Chengdu, in China’s Sichuan province, home of Indiana University East economist Li-tao Zhong.

Zhong said perhaps the city should pursue setting up more such relationships, especially in the BRICS countries. BRICS stands for Brazil, Russia, India, China and South Africa — the

five countries leading the world’s economic growth. In the past 10 years, Indiana has grown exports to these five countries at an average of 10 percent a year. The local economy needs to become more involved in

that growth, said Zhong. Building on Sister City relationships, “we can explore some export opportunities and encourage foreign investment,” he said. Companies in these countries want to come to the United States, said Zhong. “We can attract more bigger-sized businesses.” Zhong also recommended that Richmond’s colleges do even more to attract international students and to make them part of community life. Not only might some of those students decide to stay in the area, the diversity they add might make the area more appealing to outsiders, he said. Krishnan agreed that Earlham, IU East, Ivy Tech Community College and Purdue University College of Technology at Richmond play an important role in building global connections for the local economy. “We export ideas,” he said. No matter how the connections are forged, Krishnan said expanding global ties is a good thing. “Starting to look at the world as our home is something that will do us a world of good,” he said.


GLOBAL CONNECTIONS

HELP IS AVAILABLE TO REACH WORLD MARKET By Lloyd Mullins For Maximum Business

Shipping containers are loaded for export.

budding exporter. It includes indispensable information from online training, travel tips, and warnings about international scams in its “Export Basics, Online Training, and Resources” section to sections on finance and insurance, export compliance and regulations, international

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Exporting goods to the global market is not just for giant corporations and manufacturers with international connections and legions of lawyers and marketing professionals. Small manufacturers can also carve out a niche in the world market, and the U.S. Export Assistance Center (USEAC) of Indianapolis is ready, willing and waiting to help. The USEAC of Indianapolis, located in Carmel, is part of the U.S. Commercial Service of the U.S. Department of Commerce, and is dedicated to helping small companies expand into foreign markets. “We’re your local Indiana connection to the world,” said Mark Cooper, director. “We actually go out and help people export,” said Cooper. “We meet with companies all the time.”

The center’s website, www.export.gov/indiana, gives a quick overview of information and tools USEAC provides to help crack the international market. The site is easy to use, with navigation tabs along the left side to make it simple to find what you need. One of the most useful and informative tabs is the “Our Services” tab. It takes you to a page that describes services from consulting and market research, to financial assistance, to online services, many of which are available free or for a nominal charge. The “MDCP-RVIA” tab takes you to a page filled with videos and webinars on export documentation, identifying potential markets, writing an effective export plan, and more. There is an “Exporter’s Resource Database” tab that leads to a treasuretrove of tools and resources for the

ASSOCIATED PRESS FILE PHOTO

market research, finding trading partners, forms and tools, and other topics of interest. There is also a “Press Room” tab that provides a fact sheet and stories of small companies who have found See MARKET, Page 9

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GLOBAL CONNECTIONS

Golden opportunities for Centerville plant By Ron Greeson

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For Maximum Business

CENTERVILLE, Ind. — Many have certainly driven by the location of Golden Engineering hundreds, and likely thousands, of times. Few probably realized that products made there are designed, sold and shipped from there to more than 75 countries around the globe. The plant is on the northwest corner of Interstate 70 and Centerville Road North, and the second generation of the Golden family, son Roger of founder John, runs the company begun over four decades ago. The products of Golden Engineering, Inc. are battery-powered portable X-ray units. About 25 employees currently are employed in the design, sale and servicing of the units. They provide not only industrial and plant security for private firms worldwide, but also public entities such as airports and governments, and at high-profile events like the staging of Olympic Games. John Golden and his wife, a Centerville native, started the company in Ann Arbor, Mich., after John had worked for Bendix in the area, but that company discontinued its work on a similar product. John made some improvements to the design of such X-ray units, then started his own company to design, sell and service the units. There was interest internationally right away, and Golden Engineering has sold globally ever since. “The timing (of designing the products) was perfect. My dad made some changes to what Bendix

had produced, making the units smaller, lighter, and more portable,” Roger said. Roger added that the first Golden units sold internationally were sold

in the Netherlands, and word of the Golden products has spread worldwide since those early days of the business. “At that time, unfortunate in-

cidents like plane hijackings and terrorist events were on the increase, and our products were well See GOLDEN, Page 9

SUPPLIED

The man on the left is holding a portable X-ray unit from Golden Engineering in Centerville. The unit was purchased by a company in Saudi Arabia for industrial applications. Roger Golden admits he isn’t sure what they are planning to X-ray in this photo. “I just like the photo because it is obvious that it is not in the U.S.A.,” he said.

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GLOBAL CONNECTIONS

Market Continued from Page 7

Golden

USEAC of Indianapolis was instrumental in assisting these and many more Indiana companies with various aspects of exporting, providing services and advice that would have been unattainable for them privately. “These are great resources and tools for people who want to expand globally,� said Cooper. His office must be doing something right. According to the USEAC of Indianapolis’ Home page, Indiana is ranked 13th in the nation, with $32.3 billion in exports in 2011.

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Continued from Page 8

matched to those increased security needs,� he explained further. Those needs have not only persisted but possibly grown with time. John was a mechanical engineer, and Purdue University graduate, who located in Michigan for the Bendix job. Roger said that more competitive labor rates in Wayne County helped lead to the company’s relocation from the greater Detroit, Mich., area. Roger says word of Golden products continues to spread in the international security business. “The (security) business is a pretty tight community, with government entities and international businesses in constant communication with colleagues,� he explained. “Our exporting of our products is well known in those circles.� So what is the current focus of improvements in the design and manufacture of Golden’s units? “Probably the chief goal of our company now is to allow the machines to last longer for our clients,� Golden added. “We sell and also service our units, so it is a benefit for everyone involved if we can mini-

INDIANAPOLIS STAR FILE PHOTO

Workers move goods at an Indianapolis-based import/export business that ships by air , sea and land.

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SUPPLIED

A man takes an X-ray of a boiler tub at a refinery in Chile. The unit he is using was manufactured by Golden Engineering in Centerville.

success in exporting, as well as a tab for “Internship Opportunities� that tells individuals of the benefits of an internship with USEAC of Indianapolis, position requirements, and how to apply. Perhaps best of all, especially for those less comfortable with online resources, their phone number is easy to find, featuring prominently on the home page, the “Contact Us� page, and the “Our Services� page. Indiana small and medium-sized company export success stories abound. Custom Conveyor Inc. of Greensburg made an almost $500,000 sale to Mitsubishi in Venezuela. Perm Industries Inc. of St. John completed a $1.7 million sale to Packaging Products del Peru. Hoosier Gasket Corporation of Indianapolis recently received the Export Achievement Award from the U.S. Department of Commerce.

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This X-ray taken by a unit from Golden Engineering in Centerville shows the rear portion of a Ford Expedition.

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mize the need for servicing the machines.� And it’s all still a family affair in terms of running Golden Engineering, Inc. Roger’s brother Philip and mother work in the business on a regular basis, building and maintaining the original vision of John Golden. Golden Engineering is located at 6364 Means Road, and the company website is www.goldenengineering.com.

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GLOBAL CONNECTIONS

Local manager’s sales territories span globe LaMar has spent the past 15 years as one of three international SPICELAND, Ind. — Nate LaMar has regional managers for traveled far in his life after growing Draper. His sales terriup in nearby Hagerstown. tories include the MidThat goes right along with the east, Africa, central company he represents. and southern Asia, and But despite traveling around the Nate LaMar Latin America. world, literally, in his job with DrapIt’s a challenge he er Inc., he and his company are still relishes, particularly working in the rooted in the area. war-ravaged Middle East, an area of Family roots run deep in this the world that has always fascinatsmall town where Luther O. Draper ed him. founded the business way back in The interest goes back to his 1902. childhood, LaMar said recently. The company’s initial purpose “My mother used to read me was to manufacture window shades Bible stories at bedtime,” the interfor schools, which was Draper’s national business leader said. “I primary product for 60 years, acwanted to visit the places mencording to the company website, tioned in those stories.” www.draperinc.com. Soon, he had his first chance. By Ron Greeson

www.pal-item.com § Maximum Business §Palladium-Item Media Group, AUGUST/SEPTEMBER 2014

For Maximum Business

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This Draper Inc. projection screen hangs in a Christian church in an Arab country.

His family visited the Holy Land when he was 9, then his interest in that region was a factor in learning multiple languages as a student at Hagerstown High School. “I took four years of Spanish and four years of French at Hagerstown. I was lucky to attend that high school,” LaMar said. “I was very fortunate to be able to do that, and at that time, the school offered both languages, but I don’t think that is available today.” While serving out his appointment to the United States Military Academy (West Point), after secondary school, LaMar added the languages of Arabic and Hebrew as a student majoring in Middle Eastern Studies at the famed school, beginning in the late 1980s. After his college graduation, and

serving a stint in the Army, LaMar came to Draper in 1999 in his current position. “There is no doubt in my mind at all that my ability to speak multiple languages helped me get the job,” he said. “I’ve been able to develop the market over the years, and added mastery of German after my time at West Point, studying at the service’s Defense Language Institute.” Today, LaMar maintains deep ties to this area, residing near Mount Summit, just across the Wayne County-Henry County line. He shares his home with his wife and two daughters, one of whom attends the Blue River Valley schools, and the other Chrysler High School in nearby New Castle. As a company, Draper features three broad areas of products today: audio/visual equipment, window treatments, and athletic gymnasium equipment. Industrial uses are the majority of the sales, but some governments also are Draper clients. Products are sold all around the world, and LaMar is a recognized leader in the state of Indiana in working overseas. He is serving a third term of four years on the National District Export Council, representing the state. It is an appointed position by the state’s Secretary of Commerce. “The council serves as a sort of brain trust for small and mediumsized companies that want to do business overseas,” LaMar explained. He is a lifelong runner, and explained that Draper’s line of products is popular in Mideast countries like Saudi Arabia and Kuwait, particularly in the sports of basketball and soccer. LaMar has traveled extensively in the region, and relates only one scary experience as to his personal safety. “I was running once in the Arab section of East Jerusalem, when a group of young boys threw rocks down at me from a wall overlooking where I was running,” he relates. “But that situation could actually have happened in other places as well.” LaMar said that Americans vis-

SUPPLIED

See SALES, Page 11


GLOBAL CONNECTIONS

Sales Continued from Page 10

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iting the area are well advised to wear plain clothes, without labels, in that part of the world. “The goal is to blend into the environment. That has made it easier for me than when I used to wear a U.S. military uniform in that part of the world,� he said. Indiana remains home to the globe-trotting businessman. In fact, he serves a leadership role in his county of residence today. LaMar is president of the Henry County Council. “I am very fortunate that Draper, and the people of Henry County, work with me, and my schedule, to allow me to serve in that role,� he commented. “Thank goodness for email.� Draper is a worldwide name, 112 years after its beginning, thanks in part to LaMar. However, the company is still located in Spiceland, Ind., in the heartland of America.

SUPPLIED

Nate LaMar on the Mount of Olives. In the distance is the Old City of Jerusalem. Earlier that day, when LaMar was running in the area where the tour bus can be seen, Arab teenagers standing on the city walls threw rocks at him from above. “It wasn’t politically motivated,� LaMar said. “They were just juvenile delinquents.� None of the rocks hit him.

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GLOBAL CONNECTIONS

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AFRICA MORPHING INTO

ECONOMIC HOTSPOT U.S. hopes to gain a bigger share By Paul Wiseman Associated Press

WASHINGTON — They export BMWs and birdseed and plenty in between. Their middle class is growing fast enough to draw the likes of Marriott and Wal-Mart. China, Europe, Japan and the United States

are vying to build roads and power plants there. No longer are the nations of subSaharan Africa, long a symbol of war, famine and corruption, an economic basket case. Six of the world’s fastest-growing economies are there. Higher oil prices, richer consumers and sounder governments have raised so much interest in Africa’s economic promise that it’s being showcased at the first U.S.-Africa Leaders Summit in Washington. The question is: Can all this endure?

“Africa presents enormous opportunities,” says Paul Sullivan, director of international business development at Acrow Bridge of Parsippany, New Jersey, which has put up hundreds of prefabricated steel bridges across Africa. As African leaders gather to mark a decade of economic gains, they appear intent on sustaining the growth and ensuring that the benefits are spread broadly and not siphoned away by corrupt officials and foreign companies.

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Customers buy Cold Stone ice cream in Lagos, Nigeria. Africa has recorded a decade of economic gains.

Victims of corruption In the decades after many of the countries regained their independence in the 1960s, their natural resources — Nigerian oil, Liberian diamonds, Congolese copper and cobalt — failed to support durable growth. They sometimes proved a curse: Proceeds would vanish into Swiss bank accounts of corrupt leaders and give armed factions something to fight over. Analysts note hopefully that the current resurgence is built on

AP


GLOBAL CONNECTIONS FIGURES TO KNOW

A family eats Domino’s pizza at a restaurant in Lagos, Nigeria. Years of solid economic growth, gradual economic reforms and energy discoveries have transformed Africa into one of the world’s hottest markets.

foundations sturdier than the ups and downs of commodity prices. Many African nations have become more democratic, making it easier for entrepreneurs to do business, and boosted investment in education and infrastructure. Armed conflicts are down despite headlines about the terrorist groups Boko Haram in Nigeria and al-Shabab in Somalia. The improved environment has

benefited even countries without bounteous natural resources. In resource-poor Rwanda, for example, economic growth rose from an average 1.7 percent from 1990 to 2000 to 7.7 percent the next decade. “We see Africa as the fastestgrowing market worldwide,” says David Picard, a manager at heavy equipment manufacturer Caterpillar.

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Foreign acquisitions In 2011, Wal-Mart acquired Massmart Holdings, which runs 350 stores in 12 sub-Saharan countries. Marriott International last year agreed to buy Protea Hospitality of South Africa, a 116-hotel chain in seven sub-Saharan African countries. Cummins, based in Columbus, Ind., has enjoyed double-digit sales

growth this year in supplying power equipment to Africa. Consumers in the Nigerian capital of Lagos eat burgers from Johnny Rockets and ice cream from Cold Stone Creamery. No nation has been more aggressive in Africa than China. Its direct investment in sub-Saharan Africa has jumped from virtually nothing in 2002 to $18.2 billion in 2012. China is hungry for oil, coal and other resources and eager to develop the roads, bridges and ports needed to pull them out of Africa. Africans tend to favor doing business with China in part because it’s less likely than Western nations to demand economic and political reforms to accompany trade and development deals. “Investors from the U.S. and Europe have tended to be large investors who demand all kinds of facilitation, who expect all kinds of conditions,” says Frederick GoloobaMutebi, a Rwanda-based researcher and honorary fellow at the University of Manchester. “I do not see Europe and the U.S. catching up with China.” See AFRICA, Page 14

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The consultancy Ernst & Young ranks Africa the world’s secondmost-attractive market after North America. Cumulative foreign investment in sub-Saharan Africa has catapulted from $33.5 billion in 2000 to $246.4 billion in 2012, according to United Nations numbers crunched by the Brookings Institution.

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GLOBAL CONNECTIONS

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America vs. China

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This week’s summit is seen as an American effort to regain influence lost to China over the past decade. Next year the United States hopes to expand a 14-year-old free-trade deal with Africa. President Barack Obama is expected to announce U.S. businesses have committed to more than $14 billion in investments in Africa, money plowed into construction, clean energy, banking, information technology and other sectors. Before Africa’s continued ascendance can be assured, though, analysts say its countries must resolve some thorny questions. Among them: » Infrastructure. Can it build the roads, railways and power plants needed to sustain its pace of growth? Rosa Whitaker, a former U.S. trade official and now a consultant specializing in Africa, says subSaharan countries need to spend more than $90 billion on infrastructure. Electricity is a big obstacle. Two-thirds of people in sub-Saharan Africa have no access to it. “You can’t do much without power,” notes Stephen Hayes, president of the Corporate Council on Africa, which promotes U.S.-Africa commercial ties. » Intraregional trade. African countries typically conduct only about 10 percent of their trade with their neighbors. Among the reasons for weak intraregional trade: Poor roads and other infrastructure; conflicts and troubled ties among countries; and corruption at customs posts that can delay shipments at the border. » Manufacturing. Can they tran-

A worker takes a call at the Sankara Nairobi hotel in Nairobi, Kenya. China and the United States are among countries aiming to gain bigger shares of the growing African economy.

sition from supplying other countries with materials to generating their own finished products? Africa traditionally has supplied raw materials — oil, coal, diamonds — and let other countries turn them into valuable goods. “We have been exporting crude oil and importing petroleum products,” notes Nigerian Trade Minister

Olusegun Aganga, a former Goldman Sachs executive. “No nation has managed to go from a poor to a rich nation by relying entirely on export of raw materials.” » Capitalizing on resources. Abundant resources have failed to build widespread wealth or stable growth across Africa. Many economists say natural riches have tended

Holland Continued from Page 3

company makes. For that reason, Veldhuis is happy to find ways to get the word out in the community. “We always like when we have an opportunity to show a little bit.” Recently, the Cope Environmental Center created a video about Holland Colours and its sustainability efforts. In addition to talking about her company’s product, Veldhuis wants people to know about its management style. “We do things a little different

Holland Colours Americas is at 1501 Progress Drive in Richmond.

here,” she said. “We kind of have this family feeling. ... “On the other hand, we are a company. We have to make money. We are not a ‘softie’ company at all.” Do you have any special plans

PALLADIUM-ITEM FILE

for the future? “No special plans until it happens. ... I’m 61 now. You can’t go on forever.” But the company is staying in Richmond, Veldhuis made clear.

AP

to promote corruption and conflict and to stunt development in poor countries. In the past, analysts say, African countries have been out-negotiated and exploited by foreign companies. This time, Cullen Hendrix, a University of Denver specialist in global conflict, wonders, “How can host countries get the best possible deal?”

Their facility has room for expansion. “Basically, we hope the U.S. economy grows a little bit faster,” she said. “We are ready for the future.” Do you have any message for young girls who might be thinking about going into the business world? “I think you have to really want it and take the opportunities that you get. If you don’t get them, try to get them,” she said. “Women are very powerful. ... We have a role, even a duty” to make a mark in business. “Just prove it,” Veldhuis said. “Prove that we can do it.”


GLOBAL CONNECTIONS

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ASSOCIATED PRESS FILE PHOTO

Shipping containers line a U.S. port awaiting export.

The Exporting IC-DISC Law I’ve great news for privately held The tax benefit might be greater companies in Indiana that currently depending on the income tax bracket export — resurgence of an export of the respective shareholders. incentive. I recently attended a semiHistory nar co-hosted by our own Indiana Similar export incentives were District Export Coundiscontinued in the early 2000s as the cil’s Tom Miller, PartUnited States lost its battle with the ner at BKD CPA’s, in downtown Indianapolis. European Union at the World Trade Organization over the Extraterritorial I wanted to share with Income Exclusion program. you what I learned at At the time, the ETI program was the seminar and the successor to the Foreign Sales through further conCorporation, which in turn was a sucversations with Tom. ANDY REINKE The Interest Charge cessor to the original Domestic InterDomestic International national Sales Corporation, all of which ended largely after being deterSales Corporation (IC-DISC) is an mined an unfair trading practice by incentive expanded by the Jobs and the WTO. Growth Act of 2003, and is intended By charging interest on the export for small/medium sized companies. earnings funneled to the IC-DISC, By transferring a portion of the Congress complies with the WTO’s export profits to the IC-DISC, the regulations and rulings, and the proprogram reduces the taxes on those earnings from the standard individual gram appears to be weathering the test of time. There is even an IRS rate of 39.6 percent, to a personal Audit Guide for IC DISC’s suggesting income tax rate of 23.8 percent (the highest rate) for the respective share- the US government recognizes the legitimacy and likely longevity of this holders; yielding at least a 15.8 peraccounting instrument. cent tax savings.

How it works

cent for those at highest tax bracket, and the rate on the earnings from the The law allows applicable business DISC would be about 23.8 percent. entities to establish an IC-DISC, which This makes for a savings of about 15.8 effectively receives a portion of the percent. firm’s export profits in the form of a commission, or purchase and resell of Requirements » The IC-DISC should work on the qualifying exports. There are varied same year as the shareholders — ways to determine the permissible commission, but BKD breaks it down most likely calendar year. » Must be a U.S. firm — usually an to two simple, safe-harbor methods S Corp., LLC, any closely held compafor ease of analysis: ny that exports, including service » Fifty percent of the combined taxable income of the related supplier such as architectural and engineering firms. Also export houses and dis(often the manufacturer) and the tributors may be eligible, and the DISC (good if export margins are at manufacturer may still use the ICor over 8 percent), or DISC in these instances with proof of » Four percent of the gross receipts from the sale (usually selected export. » Exports must be over 50 percent when export profit is under 8 perU.S. content — value of cost of foreign cent). content divided into the total selling The above methods may be analyzed on a case-by-case basis to deter- price. » IC-DISC may be a company on mine which is the more profitable. paper only, or may be a real operating Uniformity of method used is not an company with expenses and employee IRS requirement, another selling (s). point of this export incentive. The benefit: The tax rate on passSee EXPORTING, Page 17 through earnings is usually 39.6 per-

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GLOBAL CONNECTIONS

EUGENE HOSHIKO/AP

You wouldn’t know it’s been a bad-news summer from the way many investors in the U.S. have reacted. They’ve largely shrugged it off — but that doesn’t mean global turmoil couldn’t affect the American economy.

U.S. MARKETS MANAGE TO SURVIVE GLOBAL TURMOIL Our recovery isn’t immune to what’s happening abroad, however By Josh Boak and Bernard Condon Associated Press

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NEW YORK — Europe appears on the brink of another recession. Islamic militants have seized Iraqi territory. Russian troops have massed on the Ukraine border, and the resulting sanctions are disrupting trade. An Ebola outbreak in Africa and Israel’s war in Gaza are contributing to the gloom. It’s been a grim summer in much

of the world. But investors in the United States have been shrugging off most of the bad news — so far, at least. A big reason is that five years after the Great Recession officially ended, the U.S. economy is showing a strength and durability that other major nations can only envy. Thanks in part to the Federal Reserve’s ultra-low interest rates, employers have ramped up hiring, factories have boosted production and businesses have been making money. “We’re in a much better place psychologically,” says Mark Zandi, chief economist at Moody’s Analyt-

ics. “And it’s allowing us to weather the geopolitical threats much more gracefully.” Still, it might not take much — an oil-price spike, a prolonged recession in Europe, a plunge in business or consumer confidence — to derail the global economy. Here’s a look at the strengths and weaknesses of the U.S. economy and others, and why the calm in markets may or may not last:

Strengths

»Mor e jobs: Hiring in the United States has surged in the first seven months of this year. Monthly job gains are averaging

a solid and steady 230,000, based on government figures. That’s roughly an average of 35,000 more jobs each month compared with last year. Fewer people are applying for unemployment benefits. And fewer new hires are working as temps. Though low-paying industries account for much of the hiring, many economists foresee more jobs coming from higher-wage industries such as construction, engineering and consulting. Zandi expects monthly job growth to accelerate to an average of 275,000 sometime next year. See MARKETS, Page 17


GLOBAL CONNECTIONS

Markets

year. Escalating tension between the West and Russia isn’t helping. Exports from the eurozone to Russia account for less than 1 percent of the region’s economic output. But Germany, Europe’s largest economy, is vulnerable: It gets nearly all its natural gas from Russia. The German economy contracted 0.2 percent in the second quarter compared with the previous quarter, and business confidence in the country is plummeting. Tom Stringfellow, chief investment officer at Frost Investment Advisors, says the tit-for-tat sanctions between the West and Russia over Ukraine could push the eurozone over the edge. “Unless that is resolved quickly, you could see another recession,â€? he says. Nearly half of revenue in the companies in the S&P 500 comes from selling abroad. And exports contributed 14 percent of U.S. economic output last year, up from 9 percent in 2002. Âť Where are the shoppers? Retail sales stalled in the United States last month. Wage growth has failed to surpass inflation, leaving many consumers unwilling or unable to

spend more. Sales at auto dealers and department stores fell in July. It’s not just U.S. consumers who are spending less. Japan’s economy cratered in the April-June quarter, because of a sales tax hike. The economy there shrank 6.8 percent from a year earlier.  Oil spike: Will fighting in Iraq and Ukraine upend global energy markets, and raise the cost of filling your gas tank and heating your home? Europe is worried because it gets much of its natural gas from Russia. And Iraq is the second-biggest OPEC oil producer. Before dropping last month, crude oil prices hit a 10month high in June on news of victories by Islamic State fighters. In the United States, gasoline is averaging $3.47 a gallon, according to AAA. That’s down 7 cents from last year. But the benefits of cheaper gas could be erased if supplies were disrupted. Consumers would be hit by what economists consider the equivalent of a tax increase. One positive to come out of the dire economic situation? Because so many countries are struggling to grow, demand for oil is restrained.

Exporting

corporate America is not the target audience of this blog nor the ISBDC, so consult your corporate or personal tax advisers for further analysis. Indiana — allows for the IC DISC — does not tax it. Other states and even counties may treat / tax the IC-DISC differently, so again, consultation with your tax adviser is a must.

past president of both the Michiana and Indianapolis World Trade Clubs and currently serves on the board for the Indianapolis Foreign Trade Zone and the Indiana District Export Council. FTI has a contract with the ISBDC to bring export development expertise to its clients, offering small to mid-sized Hoosier firms a leg-up in participating in that segment of the economy that constitutes 33 percent of the growth of the U.S. GDP — exports. Andy Reinke can be reached at fti@foreigntargets.com.

Continued from Page 15

Establishing an IC-DISC requires a deposit of at least $2,500 to remain in the account. The only other deposits would be from paying the IC-DISC the export commissions based on two formulas mentioned, an estimate of which need to be paid within 60 days of the end of the year. If there are additional commissions permissible

once the final tax return calculations are made, the final commission adjustment needs to be paid to the DISC within 90 days of making the final determinations. The IC-DISC needs to be set up prior to the date of any export intending to be part of this program. Notes: There is a cost to establishing the mechanisms of an ICDISC, so consult with BKD or your accounting firm to determine the ROI. Privately held C-Corporations may also benefit, however this segment of

Andy Reinke has been an active participant in export development for 25 years, launching his export development company Foreign Targets Inc. (FTI), in 1996. He is

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stocks tumbling. “Markets are ripe for correction,â€? she says. “The only question is, what is the catalyst?â€? Continued from Page 16 Âť Help from central banks: The Fed has been paring its pace of bond Âť Record profits: Earnings at purchases and will end them this fall. companies in the Standard and The purchases have been intendPoor’s 500 index are on track to jump ed to hold down longer-term rates 10 percent in the second quarter and prod consumers and businesses from a year earlier, according to S&P to borrow and spend. But the Fed has Capital IQ, a research firm. That stressed that it will keep short-term would be the biggest quarterly gain rates at low levels even if unemployin nearly three years. ment reaches a level usually linked That news has helped the S&P 500 to rising inflation. index climb 5 percent this year, exMany economists project that the tending a bull market into its sixth Fed won’t lift short-term rates until year. The gains have been remarkmid-2015. Another plus for econoably steady, too. The stock market mies, at least in the short term: The hasn’t suffered a “correctionâ€? — a Fed’s low-rate policies have infludrop of 10 percent — in nearly three enced other central banks. years, twice as long as is typical. At the same time, global investors Threats Âť Foreign exposure: Though the have been pouring money into U.S. U.S. economy has managed so far to Treasurys, long seen as a safe bet in withstand the economic and geopolittroubled times. The yield on Treaical turmoil abroad, it isn’t immune sury notes maturing in 10 years, to it. which falls when demand rises, hit The 18-country eurozone, a key 2.3 percent recently, its lowest level region that emerged from recession in more than a year. Christine Short, a director at S&P last year and accounts for nearly a fifth of global output, failed to grow Capital IQ, worries that more grim at all in the second quarter of the news from abroad could send U.S.

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LOCAL EVENTS

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People release butterflies in honor or memory of loved ones during last year’s Starr-Gennett Foundation’s music festival.

JOSHUA SMITH/PALLADIUM-ITEM FILE

Quality of life impacts Wayne County economy In this global economy, sometimes the best way to make meaningful connections is to explore local and regional resources. Richmond and Wayne County offer the perfect opportunity to do so the weekend of Sept. 11-14. Between the Community Improvement Awards, The Secret Intredient’s 35th anniversary, the Regional Neighborhood Network Conference, Richmond Music Festival, the TREVOR second annual PotteryOAKERSON palooza and many other events, residents and visitors will have a wide variety of activities to choose from. These events contribute to the quality of life experienced in Wayne County, which is a vital element of economic success. They provide residents and consumers interesting cultural activities that make this a very positive area to live in. A high quality of life attracts new professionals and talent. These

individuals in turn bring interesting ideas to the community. These ideas provide the opportunity for the whole community to grow in new ways, driving economic development. The Community Improvement Awards are an annual event in which the Wayne County Area Chamber of Commerce recognize businesses for external improvements to their facilities. The luncheon, which takes place on Sept. 11, draws attention to areas that have significantly benefited from these improvements. This recognition is important because aesthetic improvements have a significant impact on the quality of life in the Wayne County community. The Secret Ingredient, Inc. will be holding several events in recognition of the business’ 35th year in Richmond. On Sept. 11, they will have a special fashion show at McGuire Hall. This event will showcase the finalists for the Art Inspired Runway competition. Then, on Sept. 12, there will be a butterfly release outside of the store at 720 E. Main St. This event

will coincide with the announcement of the winner of their storefront essay competition. This year Richmond will be hosting the Regional Neighborhood Network Conference (RNNC) Sept.11-13. The RNNC is a three-day event where volunteers, corporations, governments and community leaders gather to learn from each other. Valuable ideas are shared, with a wide variety of workshops and activities meant to help generate community transformation. This event will bring an estimated 500 people from the surrounding region. The Starr-Gennett Foundation has been hard at work putting together a whole weekend of musical events for everyone to enjoy. The Richmond Music Festival will cater to a multitude of crowds throughout the weekend as artists like the Jeff Hamilton Trio and Deacon Jones perform at various times and locations. The festival has garnered support from many other groups and is a perfect example of community cooperation. The Richmond Art Museum will

be hosting the second annual Potterypalooza on September 13. This event will showcase regional artists who work in clay. The museum will have pottery on display and available for purchase. Local food vendors and live music will also be highlighted as part of the Potterypalooza celebration. All of these events showcase the uniqueness of Wayne County. These unique opportunities to get involved in the community attract individuals who want to be involved in the community — people who bring new ideas and contribute to the local economy. Trevor Oakerson is director of marketing and membership at the Wayne County Area Chamber of Commerce.


LOCAL EVENTS

Richmond playing host to Sept. neighborhood conference Palladium-Item

REGIONAL NEIGHBORHOOD NETWORKING CONFERENCE Register online at rnnc2014.com. Full conference registration is $125; Saturday-only registration is $35. Information: rnnc2014@gmail.com or (765) 983-7203

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Richmond has been selected to host a regional conference in September 2014 that’s expected to draw more than 400 people. The Regional Neighborhood Network Conference will bring neighborhood leaders, community activists, government workers and corporate executives from Indiana, Ohio, Kentucky, Illinois and Tennessee to discuss neighborhood issues and share successful community projects. Diane Whitehead, neighborhood resource coordinator for the Richmond Police Department and board president of the non-profit Neighborhood Services Clearinghouse, has attended every conference since 1994. Most participants, Whitehead said, are “average people who live in neighborhoods.” The conference offers an opportunity for them to access information and gain leadership skills. In 2014, Richmond will mark its 20th year of having incorporated neighborhoods, one reason the city was selected for the Sept. 11-13 conference. Richmond has 14 formally organized neighborhood associations and 10 to 15 neighborhood watch groups, Whitehead said. Whitehead and others are making plans for the conference, which takes place the same weekend as the Gennett Walk of Fame arts and music festival. Anyone interested in volunteering should contact dwhitehead@ richmondindiana.gov or Maria Beeler in the mayor’s office at mbeeler @richmondindiana.gov.

Thursday » 2-6:30 p.m. registration and 6-8:30 p.m. Welcome reception and entertainment, all at Holiday Inn Friday » 7 a.m-8:15 a.m. Networking breakfast at Holiday Inn » 9-10:30 a.m. Opening session featuring Gary, Ind., mayor Karen Freeman-Wilson, Mayor, Gary, Indiana at Richmond Civic Theatre » 11-11:50 a.m. Learning Workshops #1 » Noon- 1:30 p.m. Lunch and Learning Workshops #2 » 1:30-4 p.m. Learning Workshops #3 and #4 » 4-5:45 p.m. Explore the innovative, creative revitalization of Richmond’s Historic Depot District with a scavenger hunt » 5:45 p.m. Dinner and entertainment. Transportation provided to the Glen Miller Park Rose Garden or concert options Dawnn Berry, left, laughs as Mary Jo Clark and Teri Grossman make adjustments to a newly planted urn on East Main Street this year. The three were working on the Main Street Collaborative Beautification Project, a joint effort of Center City Development Corp., Wayne County Area Chamber of Commerce, Richmond/Wayne County Convention and Tourism Bureau, Richmond Parks and Recreation, Downtown Merchants, Urban Enterprise Association and Economic Development Corporation of Wayne County.

Saturday » 7:15-8:30 a.m. Networking breakfast at Holiday Inn » 9–10 a.m. Learning Workshop #5: Richmond High School » 10:15 a.m. Closing ceremony and keynote

LOCAL PROGRAMS AT A GLANCE Some local “Innovative Solutions” that will be featured during the conference workshops include: » Elizabeth Starr Academy: A public school, pre-K through 4th grade, elementary building that integrates entrepreneurial education. ESA is a school of choice located in the middle of a challenging neighborhood. The entrepreneurial program attracts students from around the community. » Revitalization of a city Park and Neighborhood – only a block from downtown: Houses surround a two-block city park. Once run down and dilapidated, the park and many homes are now restored resulting in a revitalized and highly desirable park and neighborhood. This project utilized local, state and federal funds along with private investment. » Girls, Inc.: a nationally recognized program for girls housed in a reused commercial building near heart of Richmond’s Center City. » Innovation Center: how to turn a Main Street, Downtown theater/drug store/bank into an incubator for tech startups.

Learn about successful entrepreneurial education programs. » The landlord makes the difference – Olde North Chapel & Beyond: Investing and revitalizing a neighborhood one rental property at a time. Meet landlord Ardene Schoeffler, who chose to live in her neighborhood and work from within. » Family Economic Literacy: How do you help families move into the economic mainstream and participate in the modern economy? The United Way and NATCO Credit Union Empowerment Center are teaming to implement CIRCLES, a family economic development program that helps families move out of poverty. » How can neighborhood leaders promote health and wellness – especially for the underserved? The Wayne County Minority Health Coalition, Indiana’s Coalition of the Year for 2013 will share successful programs and promotions. » Relieving food insecurities: Farmer’s markets, community gardens, and nutrition education, food distribution are all part of a comprehensive approach to ensuring all have adequate and appropriate food.

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LOCAL EVENTS

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Business opportunities

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Vendors are sought for many local festivals. » 55t h Annual Autumn Oaks coonhound event, Aug. 28-31, Wayne County Fairgrounds, 861 Salisbury Road N., Richmond. (269) 343-9020 » Farmers Pike Festival, Aug. 29Sept. 1 at the corner of 850 East and 200 South, four miles west of Hagerstown, Ind. (765) 332-2790 » Prophets Fest, 1 p.m. Aug. 30 to 10 a.m. Aug. 31, Chanticleer Farm, 944 Woods Road, Richmond. Music festival. www.everydayprophets. com/prophetsfest/ » Exploring Gamification, 11:30 a.m.-1 p.m. Aug. 29, Innovation Center, 814 E. Main St., Richmond. Workshop on using game thinking and mechanics in a non-game contest to engage users and solve problems. Presented by Michael Green and John Henry of JH Specialty in Fort Wayne. Cost: $9. Includes lunch. Information and reservations: Dawnn Berry, (765) 962-8151 or dawnnb@mycenter city.com. » Get Linked In, 8:30-10 a.m. Sept. 5, Innovation Center, 814 E. Main St., Richmond. Learn how to use the online network. Free. To register, go to mycentercity.com. » Founders Day, Sept. 6-7, Union County Courthouse square, downtown Liberty, Ind. (765) 458-5294 » Heritage Festival, Sept. 6-7, Wayne County Historical Museum, 1150 N. A St., Richmond. (765) 962-5756 » Canal Days, Sept. 6-7, Cambridge City, Ind. (765) 478-4689 » Regional Neighborhood Network Conference, Sept. 11-13, City of Richmond. Volunteers, corporations, governments, and community leaders gather to learn from each other and gain valuable ideas to help transform their own community. Full conference registration $125, Saturday-only registration $35. (765) 983-7203 or www.RNNC2014.com » Starr-Gennett Walk of Fame /Richmond Music Festival, Sept. 11-14, around Richmond » Wild Wheels for Wernle Concert, Sept. 12-13, Wayne County Fairgrounds, 861 Salisbury Road N., Richmond. » Potterypalooza, 10 a.m.-4 p.m.,

SUPPLIED PHOTO BY BRYAN REYNOLDS

Peter Kageyama, author of “For the Love of Cities,” will visit IU East in October.

Sept. 13, Richmond Art Museum, 350 Hub Etchison Parkway, Richmond. » Find Customers and Competitors, 2-3:30 p.m. Sept. 13 or 6-7:30 p.m. Oct. 13, Indianapolis Public Library, Central Library computer lab, 40 E. St. Clair St., Indianapolis. Workshop offered by the U.S. Small Business Administration. Free. To register, go to sba.gov and click on Events. » Launch Your Own Business: A Sound and Proven Path, 6-9 p.m. Sept. 16, Innovation Center, 814 E. Main St., Richmond. Workshop offered by the Indiana Small Business Development Center. Cost: $25. To register, go to isbdc.org and click on Workshops and Events. » Careers in Franchise Ownership, 6-8 p.m. Sept. 16 or 6-8 p.m. Oct. 21, FranNet of Mid-America, 8520 Allison Pointe Blvd., Suite 220, Indianapolis. A workshop offered by the Indiana Small Business Development Center. Free. To register, go to isbdc.org and click on Workshops and Events. » Funding Options for Small Business, 2:30-4 p.m. Sept. 17, U.S. Small Business Administration Indiana District office, 8500 Keys-

tone Crossing, Suite 400, Indianapolis. Free. To register, contact Ronda Crouch at (317) 226-7272 ext. 112 or email ronda.crouch@sba.gov. » Power Lunch Series for Next Generation Leaders, 12:10-12:50 p.m. Sept. 19 on the topic of work, 12:1012:50 P.M. Oct. 17 on the topic of play, Room 912, 912 E. Main St., Richmond. Offered by Indiana University East. Free 50-minute sessions. For more information or to reserve a spot, contact iue.edu/ leadership. » Cruise in, 4-8 p.m., Sept. 19, Petro Stopping Center, 9787 U.S. 40 W., New Paris, Ohio. » Levi Coffin Days, Sept. 20-21, vendors and food around Fountain City, Ind. » Preble County Pork Festival, Sept. 20-21, Preble County Fairgrounds, 722 S. Franklin St., Eaton, Ohio. (937) 456-7273 » Apple Fest, Sept. 27-28, New Paris, Ohio. » Oktoberfest, Sept. 27, Historic Depot District, Fort Wayne Avenue, Richmond. » IU East Management Series,9 a.m.-noon Sept. 30 on Managing Conflict, 1-4 p.m. Oct. 21 on Influencing Skills. Participants can

earn a certificate by completing at least five of nine sessions offered through May 12, 2015. Sessions focus on key concepts, theories, tools and applications for effective workplace management. Cost: $75 per person; $50 each for three or more people from the same organization; $50 per session if same person registers for at least five sessions. For more information or to reserve a spot, contact iue.edu/ leadership. » Canal Days, Oct. 3-5, Metamora, Ind. (866) 647-6555 or metamoraindiana.com. » Fourth Street Fair, 10 a.m.-5 p.m. Oct. 4-5, 100-400 block South Fourth Street, Richmond. (765) 962-1010 » October Festival, 9 a.m.-5 p.m., Oct. 4, park, Lewisburg, Ohio. (937) 962-2190. » Fall Gathering, Oct. 4-5, Preble County Historical Center, 7693 Swartsel Road, Eaton, Ohio. (937) 787-4256 » Read to Lead: “For the Love of Cities” by Peter Kageyama,11:45 a.m.-12:45 p.m. Oct. 8, Whitewater Hall community room, Indiana University East, 2325 Chester Blvd., Richmond. Free. » Oktoberfest, Oct. 11-12, East Dayton Street, West Alexandria, Ohio. » Graphic Design and Marketing for Business, Oct. 13-Dec. 11, Innovation Center, 814 E. Main St., Richmond. Presented by Sarah George of the Purdue University College of Technology at Richmond. Class meets four lunchtimes and four mornings. Cost: $350. Information and registration: (765) 973-8228 or techrichmond@purdue.edu. » Black Walnut Festival, Oct. 18-19, Camden, Ohio. » For the Love of Cities,6 p.m. Oct. 21, Vivian Auditorium, Indiana University East, 2325 Chester Blvd., Richmond. Presentation by author Peter Kageyama. Part of the One Book, Many Voices project. Information: www.iue.edu/onebook. » Wayne County Foundation Women’s Leadership Conference, 8:30 a.m.-4 p.m. Oct. 24. Location to be announced. Information: www.waynecountyfoundation.org. » Tools for Innovation: Generating Ideas with Teams, Part 1, 11:30 a.m.-1 p.m. Oct. 28. Offered by the Indiana University East School of Business and Economics. Free. For more information or to reserve a spot, contact iue.edu/leadership.


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Whitewater Broadcasting’s new FM capabilities for ESPN WKBV had a ribbon-cutting ceremony attended by representatives of the Wayne County Area Chamber of Commerce on July 21.

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Ivy Tech Community College Richmond recognized donors Tom Raper and his wife, Suzanne, with the establishment of the Tom Raper Center for Business Studies on July 11. Pictured, from left, are Jon Ford, regional trustee; Steve Tincher, vice president business/public services division; Andy Bowne, chancellor of Richmond and East Central regions; Diana Pappin, retiring executive director of resource development; Nancy Brookbank, sister of Tom Raper; Karen Bussing, Raper’s niece; John Murphy, president of the Ivy Tech Community College Foundation; and Bob Ramsey, Raper’s longtime friend. SUPPLIED PHOTO

A ribbon is cut to commemorate the newly renamed Firestone Complete Auto Care on Aug. 1. Representatives of the Wayne County Area Chamber of Commerce joined Firestone staff for the celebration.

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Nottingham Automotive at 1400 E. Main St. in Richmond received a community beautification award from the Wayne County Area Chamber of Commerce on Aug. 18. Pictured are, from left, Tracie Upchurch, Rachel Hughes, Mark and Josh Nottingham, Emily Kidd and Denise Lanman.

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The official ribbon-cutting for the Depot District Market, attended by representatives of the market and the Wayne County Area Chamber of Commerce, was June 13.

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BUSINESS RECOGNITION

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Bruce Cowan and Michael Allen of the Whitewater Valley REMC Community Trust board present a check for $500 to Jenie Lahmann of Morrisson-Reeves Library to help fund “1,000 Books Before Kindergarten,” a program encouraging families to read to children from birth to age 5.

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Representatives of Old National Bank and the Old National Bank Foundation present a check for $10,000 to East Central Indiana Habitat for Humanity. The funds will be used to build and rehabilitate homes for low-income families in Wayne and Randolph counties. SUPPLIED PHOTO

Georgia Direct Carpet had a ribbon-cutting ceremony for its new location May 16. The staff was joined by representatives of the Wayne County Area Chamber of Commerce. SUPPLIED PHOTO

West End Bank employees donated $1,246 to the Melanoma Research Foundation in June. Each month, the employees select a non-profit organization and arrange an event to raise awareness and collect donations. Here, Kristin O’Laughlin receives a check from Gale Ramsey.

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The new water fountain for people and pets at the Cardinal Greenway got its own ribboncutting June 30 with Greenway and Wayne County Area Chamber of Commerce representatives. SUPPLIED PHOTO

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Gale Ramsey of human resources at West End Bank in Richmond gives a check for $266 to Jim Cohen, executive director of Birth-to-Five. Each month, bank employees raise awareness and collect donations for a selected non-profit.

Representatives of Wernle Youth & Family Treatment Center and the Wayne County Area Chamber of Commerce cut the ribbon for the new girls’ unit at the center Aug. 1.


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A ribbon-cutting was part of the celebration of Morrisson-Reeves Library’s 150th anniversary July 30. Members of the Wayne County Area Chamber of Commerce gathered for the Chamber Network Morning at the library to kick off the day.

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Randolph Nursing Home in Winchester received a Certificate of Achievement from Health Care Excel, a quality improvement organization. “We are so excited to receive this Certificate of Achievement based on our clinical care and quality initiatives,� said executive director Rosina Thatcher. The facility is five-star rated by the Centers for Medicare & Medicaid Services.

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Staff of the Reid Orthopedic Center pose after their ribbon cutting with representatives of the Wayne County Area Chamber of Commerce on May 20.

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