News From Terre Haute, Indiana

Local & Bistate

Related Photos

  • Thank you: Steve Witt of Vigo Co. Redevelopment accepts a grant for $20,000 from Duke Energy on Wednesday afternoon. Bob Poynter

    MET 031010 STEVE WITT.jpg

  • Duke Energy: Richard "Biff" Williams talks with Tribune-Star reporter Howard Greninger on Wednesday afternoon. Bob Poynter

    MET 031010 RICHARD BIFF WMS.jpg

  • Grant: Christopher Pfaff talks about the $10,000 grant from Duke Energy on Wednesday morning. Bob Poynter

    MET 031010 CHRIS PFAFF DUKE.jpg

  • Grant: Rick Burger of Duke Energy talks about the two grants totaling $30,000 Wednesday morning just prior to the presentations to Christopher Pfaff and Steve Witt. Bob Poynter

    MET 031010 BURGER GRANTS.jpg

Discussion

Welcome to our online comments feature. We welcome your thoughts and your opinions, including unpopular ones. We ask only that you keep the conversation civil and clean. We reserve the right to remove comments that are obscene, racist or abusive and statements that are false or unverifiable as well as posts that are attacking other users. Repeat offenders will be blocked. You may flag objectionable comments for review by a moderator.
comments powered by Disqus
March 10, 2010

Rural health business incubator efforts for Vigo County get financial boost

Howard Greninger The Tribune-Star

TERRE HAUTE — Efforts to create a business incubator and accelerator in Vigo County for rural health care and life science companies took a step forward Wednesday with a grant from Duke Energy, combined with funding from various organizations and the State of Indiana.

In addition, Duke Energy also provided a grant to reimburse the Vigo County Redevelopment Commission for a land survey to subdivide property that once housed Pfizer’s Exubera plant, south of Terre Haute. That land is being called the Vigo County Industrial Park II.

The grants totaled $30,000.

Duke Energy provided $10,000 to the Rural Health Innovation Collaborative (RHIC), formed in 2008 to address the shortage of health care providers in rural areas.

The $26,300 study, which started last week and is expected to be completed by the end of June, is also being funded with $13,150 from the Indiana Economic Development Corp.

The remaining $3,150 is funded through Union Hospital, the Terre Haute Economic Development Corp. and the Indiana State University Foundation. ISU’s Center for Business Support and Economic Innovation will act as lead agent for the study with center director Christopher Pfaff as its coordinator.

Pfaff said the feasibility study will look at four sections, the first being the number of potential business startups that could be tenants of an incubator/accelerator. “Then, look at best practices from other business incubators and accelerators. Then also look at potential sites, whether greenfield sites or exiting businesses for reuse,” Pfaff said.

“Then finally, the study will take a look at potential funding sources,” he said.

Pfaff said some former Pfizer workers who have formed a testing company could be an example of companies that a business accelerator could help, including potentially locating on former Pfizer property.

“One of our client companies is Midwest Compliance Laboratories, or MC Labs, which is a group of former Pfizer employees that came together to start their own testing laboratory,” Pfaff said, adding that the company has six full-time employees.

“I think we will look at both emerging companies and companies that are already started up, but really are at that crossroads where they need to make the next level expansion. I think in this market we will not just look at pure startups, but those emerging companies that have already organized like MC Labs…” Pfaff said.

Incubator can help rural physicians


Richard “Biff” Williams, dean of Indiana State University’s College of Nursing, Health and Human Services and chairman of the RHIC facilities committee, said “one of the purposes of RHIC is to increase the economy and bring in new businesses. By doing that, we want to create new businesses in rural health,” Williams said.

“Right now, there is an extreme shortage in physicians, nurses and health care professionals in rural communities,” he added.

“I think this incubator can address what new businesses are needed in the rural area that can provide better health care. Telemedicine is one thing we are looking at, and also looking at information technology,” Williams said.

“Everybody is going to electronic medical records, but if you look at these [rural family medical practices], they can’t afford that,” he said.

“It could also be training of staff, where they create a software so that nurses can train themselves. They will need to be trained if they are sending X-rays to, say, Union Hospital from Sullivan County. A family practice physician may not want to spring $100,000 on a staff member to use that technology, so maybe there is a business that provides that,” Williams said.

Duke Energy provided $20,000 to the Vigo County Redevelopment Commission, reimbursing the commission for a land survey.

Steve Witt, president of the Terre Haute Economic Development Corp., said the former PSI Energy, which later became part of Duke Energy, provided funding in 1988 for the first feasibility study for the current Vigo County Industrial Park.

The property survey to subdivide the former Pfizer property is the first step in developing a new industrial park Witt called the Vigo County Industrial Park II.

Witt said the Corradino Group, the county’s consulting engineer, has already done the survey and new plats were approved last month by the Vigo County Plan Commission. “The survey is the basis for everything we go forward with when we go to sell property and make infrastructure work,” Witt said.

Mike Heaton, regional economic development manager at Duke, called it “one of the premiere properties in the state of Indiana,” citing a recent site selection trip he made to Dallas, Texas. Heaton said one consultant already knew of the location “and was impressed with the building and the property associated with it.”

“We are interested in entrepreneurship for the state of Indiana and feel like new business startup is really the future. It is a long-term strategy in economic development,” Heaton said.

 “Healthy communities translate to a healthy utility company, so whenever there is viable business in Terre Haute or other communities in Indiana, it translates into a healthy utility company, so that is why we are interested in business startups in this region,” he said.

 Heaton added that in general, 85 percent of business startups remain within a community where they started.

Duke Energy’s Indiana operations provide about 6,800 megawatts of electrical capacity to about 780,000 customers, making it the state’s largest electricity supplier.

Duke Energy is one of the five largest electric power holding companies in the United States. Its regulated utility operations serve about 4 million customers in five states – North Carolina, South Carolina, Indiana, Ohio and Kentucky – representing a population of about 11 million people.

Howard Greninger can be reached at (812) 231-4204 or howard.greninger@tribstar.com.

Text Only | Photo Reprints
Local & Bistate
Latest News
Community Calendar
Loading…
Events by eviesays.com
TribStar.com Poll
AP Video
Unusual Heat Wave Bakes Alaska Raw: Massive Protests Fill Brazilian Streets Fans Cheer Dramatic Heat Comeback Raw: Car Jumps Curb in NYC, Injures 8 Raw: Volcano Erupts Near Mexico City Hunt for Ex-Teamster Boss Hoffa's Remains Ends Tiger on Sergio: 'It's Time to Move On' Raw: NASCAR Driver Jason Leffler Dies in Wreck Raw: Arizona Wildfire Scorches 8 Square Miles Hoffa Mystery Still Fascinates After 4 Decades Car Crash in NYC's East Village Injures 8 Raw: German President Welcomes President Obama Ohio Woman Accuses 3 of Holding Her Captive Raw: Huge Fire Near Yosemite National Park Raw: 1 Dead in Shooting at Mo. Apartment Complex Obama Renews Call for Nuclear Reductions Failed Cuba-to-Florida Swimmer Won't Try Again 3 Charged in Ohio With Enslaving Mom, Daughter Ex-NFL Star Chad Johnson Out of Jail Aug. Trial Set for Ohio Man in Triple Kidnapping
NDN Video
Men's Warehouse fires Zimmer, founder and face of company Rihanna Hits Fan With Microphone Obama Renews Call for Nuclear Reductions Exclusive: Locklear & Seymour Lock Lips Miami Heat Wins in Overtime Raw: Arizona Wildfire Scorches 8 Square Miles Fists, chairs fly in restaurant brawl Journalist Michael Hastings Dies in Fiery Hollywood Crash Hairy Leg Stockings Aim to Deflect Male Attention Inside Kim Kardashian's Premature Labor Three Charged for Enslaving Mother and Daughter Raw: Huge Fire Near Yosemite National Park Spurs' Popovich has no problem with Spurs' intensity RAW: NSA Director Says 50 Plots Foiled Paige Butcher Scorches on Hawaii Beach Video: worst way to load cargo onto a plane Never-before-seen footage of '08 Times Square bomber Obama: NSA Secret Data Gathering 'Transparent' WATCH IT: Lil Wayne tramples American flag Mariah Carey Looks Beautiful in a Tiny Cut-Out Swimsuit
Parade
Magazine
Click HERE to read all your Parade favorites including Hollywood Wire, Celebrity interviews and photo galleries, Food recipes and cooking tips, Games and lots more.
  • -

     

    March 12, 2010

activity
Real Estate News