Business with Terre Haute ties rated No. 1 most-promising company in U.S.

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

September 25, 2009

Anonymous The Tribune Star Fri Sep 25, 2009, 09:50 PM EDT

TERRE HAUTE — A business with multiple ties to the Wabash Valley stands atop Forbes magazine’s list of “America’s Most Promising Companies.”

Vextec Corp., which has a testing laboratory in Terre Haute, provides manufacturing, aerospace and electronics companies with accurate information about the behavior and life expectancy of products and components.

Terre Haute natives and Rose-Hulman Institute of Technology graduates Loren Nasser and Robert Tryon co-founded Vextec in 2000. The company became a client business of Terre Haute Innovation Alliance in 2007. The alliance is an economic development and educational initiative based at Indiana State University that includes Rose-Hulman, the City of Terre Haute and Terre Haute Economic Development Corp.

Vextec’s Terre Haute lab was established in 2008 adjacent to Terre Haute International Airport-Hulman Field. The lab performs failure analysis of mechanical and electronic equipment, conducts laboratory testing of mechanical components, and develops computer models to determine the necessary maintenance intervals, expected lifetime and safety of the equipment.

The lab benefits from the expertise and skills of students and faculty at Indiana State and Rose-Hulman. Vextec projects a workforce of 50 once the lab is in full operation.

In announcing its list of 20 businesses, Forbes called Vextec “the shiniest gem we turned up in our hunt for America’s most promising young companies.” The list is online at www.forbes.com and will appear in the Oct. 5 issue of the magazine.

“Vextec wields complex algorithms that predict, with scary accuracy, how and when components will fail — even before they're built,” Forbes stated. “That crunching power hastens the design of everything from engine parts to medical devices, in turn slashing research-and-development expenses and even opening doors for small contract manufacturers hungry for lucrative replacement-parts contracts.”

During its first year, Vextec landed a $100,000 research grant from the U.S. Air Force to model the performance of turbine engine components made from titanium aluminide. The company has been profitable since that first year of operations and posted $3 million in sales in 2008, according to Forbes.

“The Terre Haute Innovation Alliance congratulates Vextec on being recognized as the most promising young company in the United States,” said Steve Witt, president of the Terre Haute Economic Development Corp. “Vextec’s founders saw a need, knew they had the knowledge and skills to meet that need, and set out to build a company to help manufacturers become more efficient. That their vision has become a reality shows that American manufacturing has a future. We are proud to have Vextec as a partner.”

To be considered for the Forbes list of most-promising young companies, businesses had to have been founded within the past 10 years and have annual sales of $25 million or less. The list was developed with the assistance of The Venture Alliance, an Irvine, Calif.-based entity that provides advisory services to early stage businesses and has developed a rating system for young companies.

What to know

Vextec’s Terre Haute lab was established in 2008 adjacent to Terre Haute International Airport-Hulman Field. The lab performs failure analysis of mechanical and electronic equipment, conducts laboratory testing of mechanical components, and develops computer models to determine the necessary maintenance intervals, expected lifetime and safety of the equipment.

Text Only | Photo Reprints

Progress Edition

Think downtown Terre Haute is dead? Think again Take a leisurely drive through downtown Terre Haute today, then compare it to the same journey say, five or 10 years ago. Wow, what a difference.
October 13, 2009 2 Photos 1 Link
Valley business works to create affordable art-related events for everyone As long as she can remember, art has been an important part of Stacy Thacker’s life. “I really believe I was born an artist and my family endorsed my love,” she says, adding that art also helped her in her life’s struggles.
September 25, 2009
Many aspects bring people to town The Terre Haute Convention and Visitors Bureau has gone from near obscurity — Executive Director David Patterson recalls his first office was nearly hidden from view on the third floor of the then-Terre Haute First National Bank building on Wabash Avenue — to highly visible.
September 25, 2009
Numerous Terre Haute businesses stand the test of time Longevity in the business world is an anomaly for most entrepreneurs.
September 25, 2009
Retail sector carries significant importance in Vigo County Whether drawing consumers and their money from miles away, or providing jobs to a double-digit percentage of the workforce, the significance of Terre Haute as a center of commerce is unmistakable.
September 25, 2009
Business with Terre Haute ties rated No. 1 most-promising company in U.S. A business with multiple ties to the Wabash Valley stands atop Forbes magazine’s list of “America’s Most Promising Companies.”
September 25, 2009
Down economy seeing growth of small startups A depressed economy is acting as a fertilizer for small-business starts.
September 25, 2009
Dora Hotel Co. bringing new Holiday Inn Express to Sycamore Terrace Fishers-based Dora Hotel Co. has begun construction on a new Holiday Inn Express Hotel & Suites in Terre Haute.
September 25, 2009
WorkOne provides assistance to job-seekers, employers Hopeful job-seekers and local employers have enhanced access to career services and employer assistance in the Wabash Valley through the service provided by Ivy Tech Community College and its management of the WorkOne system.
September 25, 2009
Vigo County eyes long-term manufacturing success Vigo County seems poised for growth in the manufacturing sector in coming years.
September 25, 2009
Regional Hospital puts high emphasis on patient, family experience When Chris Hill took over as chief executive officer at Terre Haute Regional Hospital about three years ago, patient satisfaction was low, employee turnover was high and medical staff were unhappy, he said in a recent interview.
September 25, 2009
Major construction on Union Hospital’s new $185 million facility nears completion The opening of a new $185 million hospital — the largest single building project in Terre Haute — is slated for Jan. 12, enabling Union Hospital to offer patients a wide array of advanced technology.
September 25, 2009
Initiatives looking for cure to shortage of rural health-care professionals The growth of technology in the health-care industry seems to move at the speed of light.
September 25, 2009
Ivy Tech Success Center helps prepare students for the world The Student Success Center at Ivy Tech Community College is the hub of a network of support services (tutoring, career services, student life and development education, to name a few) that guide students to academic and career success.
September 25, 2009
Internationalization efforts to be strong focus at The Woods During his inauguration speech, St. Mary-of-the-Woods College President David G. Behrs, Ph.D., indicated that internationalization efforts would continue to be a strong strategic focus for the college, and this year’s group of international students is certainly helping the college fulfill that promise.
September 25, 2009
St. Mary-of-the-Woods initiatives aim to make the transfer process seamless Two-year colleges across the country are seeing their enrollments rise rapidly each semester, and St. Mary-of-the-Woods College is working on several initiatives to make the transfer process as seamless as possible for local students who wish to continue on the path to a bachelor’s degree.
September 25, 2009
Rose-Hulman builds on rep in engineering education If your reputation comes from the company that you keep, Rose-Hulman Institute of Technology is in very good company lately with several national publications citing the college among the nation’s leaders in undergraduate engineering education.
September 25, 2009
Rose-Hulman students developing transportation systems of future Through several extracurricular and academic projects, Rose-Hulman Institute of Technology students are developing innovative solutions to meet tomorrow’s sustainability needs.
September 25, 2009
ISU credits multifaceted approach for drawing transfer students Indiana State University officials believe the school’s multifaceted approach to making transfer students feel welcome is what helped the school draw in its largest number of transfer students in 10 years.
September 25, 2009
Program helps Indiana State students with college transition Lauren Spaetti was anxious about starting college 150 miles from home.
September 25, 2009
Harrison College the result of school outgrowing ‘business college’ label After nearly 100 years operating as Indiana Business College, the career-centered, proprietary educational institution changed its name to Harrison College earlier this year.
September 25, 2009
ISU, Rose-Hulman, St. Mary-of-the-Woods and Ivy Tech give Terre Haute a lesson plan for advancement Terre Haute often bills itself as the “Crossroads of America.”
September 25, 2009

Progress Edition

Search Results

Discussion

Business with Terre Haute ties rated No. 1 most-promising company in U.S.

Site Map

Contact Us