[r63] Messmer Report: A small business success story in our own backyard

Posted by: Zach Weismiller  | Friday, July 22, 2011

In the General Assembly one of our top priorities is to create jobs and give a boost to entrepreneurs and small businesses in Indiana. A great partner in our efforts, the Indiana Economic Development Corporation (IEDC), has recently released a list of 'Companies to Watch' for 2011.  One of the 43 companies awarded with this honor is in our own backyard, STIMULUS Engineering in Loogootee, Ind.

For the past four years the IEDC has honored a list of privately held companies in Indiana that employ six to 150 full-time employees and have between $750,000 to $100 million in annual revenue or capital. This year there were more than 300 nominations for the award. Between the 43 companies awarded by the IEDC, they have combined revenues of $600 million and created an impressive 550 new jobs this year.

STIMULUS Engineering started their work in 2007 in Loogootee and has since expanded to have an office in Pennsylvania, too. Through their work with Crane and other government agencies for defense development projects they have been very successful.

Several bills were passed this year that I believe will help other small businesses in Indiana continue to grow, too. Included are:

  • House Enrolled Act (HEA) 1004, which increases access to start-up capital for Indiana businesses in addition to lowering the corporate income tax rate
  • HEA 1006, which promotes economic development locally and regionally, and also cuts down on the red tape to create a business
  • HEA 1007, which allows enhanced abatement schedules and hiring incentives to encourage local job growth

The companies on this list are the perfect examples of how small businesses foster Indiana's economic growth. Congratulations to STIMULUS Engineering on their great success and I hope to see many similar success stories of companies in our community in the coming years.