A 2.3% excise tax targets medical device makers beginning 2013 thanks to the health care bill. This will lead to a reduction in jobs and cuts in new technology development.
The medical device industry is important to Indiana and in particular the northeast region, which is a major player in producing orthopedic devices.
There are about 300 medical device companies in Indiana employing 18,500 Hoosiers directly and another 44,500 in supporting roles, according to the Indiana Medical Device Manufacturers Council. The state, said the council, ranks second only to California in production and output associated with medical equipment and supplies.
“Under the current (tax) structure,” the national trade association said, “many (smaller) companies will owe more in taxes than they generate in profits, requiring companies to lay off employees, cut R&D budgets and slow the development of new therapies that will improve the quality of care for all Americans.”
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Electronic tax filing remains high, the latest data on electronic filing showed 1.5 million had filed online in Indiana by March 18, repeating the number reached by March 19, 2009.
“When you file by paper, it takes about six weeks for us to process that return and get you your refund,” said Jodie Reynolds, a media relations specialist for the Internal Revenue Service office in Indianapolis. “You can get that refund in as few as 10 days if you electronically file and choose direct deposit.”
It’s pretty easy to see why electronic filing remains high in Indiana, people are realizing that if they want paid faster, file electronically.
A123 batteries to supply Navistar electric vehicles. According to A123, the production launch of the truck will take place midyear.
Great choice of battery manufacture, based on where things are going A123 could become one of this worlds major companies.
SDI to sell $300 million in debt securities, SDI intends to use the net proceeds from the sale of the securities to repay amounts outstanding under its senior secured revolving credit facility and for general corporate purposes such as debt repayment, capital expenditures, working capital and acquisitions.
Notre Dame has top business school in U.S., The University of Notre Dame’s Mendoza College of Business was ranked first in the country, according to the magazine. It credited the school’s alumni base for “willing to lend a hand to young job seekers.” It also began using Skype video-conferencing services for virtual job interviews between students and recruiters.
This is awesome, they ranked second last year looks like they’re stepping it up.
Elkhart steel treatment plant, Specialty Heat Treating, will invest 1.5 million to expand its Elkhart facility. The Michigan-based company will add a new vacuum furnace to its existing 33,000-square-foot plant, providing additional capacity for the vacuum heat-treating services used to improve steel.
The installation of the new furnace is expected to begin in May and it will be in production by August. The company estimated the expansion could create as many as 26 jobs by 2012.
SDI launches commercial rail production, currently capable of producing 300,000 tons per year. The standard strength rail has been tested and qualified by the first of the seven North American Class I railroads that are potential customers. Shipments are expected to begin in the second quarter. Evaluations by other Class I railroads are under way and are expected to result in additional approvals in the near future.
Earthbound RV is bringing manufacturing jobs to Marion, IN, 60 in 2010 and 300 by 2013. Earthbound plans on producing vehicles at their new Marion facility in March because the company has 3.7 million dollars worth of back orders to build.
Mad Anthony Brewing taking to market barbecue sauce and rub for retail distribution. The new products will expand the Mad Anthony consumables empire, which already includes a microbrewery and restaurants in Fort Wayne, Auburn and Warsaw.
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