Utilimaster, a go-to-market brand of The Shyft Group’s Fleet Vehicles & Services business unit (NASDAQ: SHYF), a North American leader in specialty vehicle manufacturing, assembly and upfit for the commercial, retail, and service specialty vehicle markets, is hosting its third drive-thru job fair of the summer from 10 a.m. to 6 p.m. on Aug. 5 at 603 Earthway Blvd., in Bristol, Ind., in response to COVID-19 health concerns.
Utilimaster is seeking to fill additional positions on its Bristol campus to meet increasing product demand from customers. In an extended effort to follow social distancing protocols, and for the comfort of applicants, interviews will be offered in both car-side and open-air sit-down formats, where masks will be required.
“We continue to experience growing demand for last mile delivery fleet vehicles, as more and more consumers are shopping online simultaneously increase the delivery of both essential and non-essential goods, direct to their doorstep,” said Chad Heminover, president, Shyft Fleet Vehicles & Services. “As a result, we’re looking for even more new team members to join us in Bristol and help us build the vehicles and upfits our customers need.”
Offering highly competitive wages, positions for hire include full-time, day and night shift general assembly positions with day wages starting at $15.50 an hour and night shift positions starting at $17.25 an hour. Both shifts include full benefits that will commence on the first day of work, which include tuition reimbursement, 80 hours of holiday pay, as well as traditional medical and wellness benefits.
This is the third drive-thru hiring event to take place across The Shyft Group corporation in the last month in support of continuing demand for its vehicles. This past June, the company — formerly known as Spartan Motors, Inc. — rebranded to The Shyft Group, to be more reflective of its next phase of business transformation and focus on high-growth commercial, retail, and service specialty vehicle markets, following the divestiture of its fire truck business. The name represents speed, efficiency, agility, and a high-intensity approach.
U.S. Rep. Jackie Walorski (R-Ind.) introduced legislation July 23 to double the R&D tax credit and allow more small business startups to access the credit, according to a release.
“America’s recovery from the unprecedented crisis we are facing will be driven by our innovative and entrepreneurial spirit,” Congresswoman Walorski said. “Doubling the R&D tax credit will encourage companies – especially small businesses and startups – to invest more in research and development that will unleash economic growth and prosperity. This commonsense measure will go a long way toward keeping America ahead of our global competitors and ensuring we continue to lead the world in scientific discoveries, technological breakthroughs, and cutting-edge manufacturing.”
The bill would double the rate for each of the options businesses have to access the research and development (R&D) tax credit.
Double the “Traditional” Credit to 40 Percent: For more established companies, the existing traditional credit rate – which uses a complicated formula – would double from 20 percent to 40 percent of the increase in R&D spending.
Double the Alternative Simplified Credit (ASC) to 28 Percent: The existing ASC rate – which uses a simpler formula – would double from 14 percent to 28 percent of the increase in R&D spending.
More than Double the Credit for Firms with Little Research History to 14 Percent: For companies with no history of U.S. research in the past three years, the credit would more than double from 6 percent to 14 percent of R&D spending. (The current rate would have been 7 percent if not for a prior drafting error.)
Double the Startup Limit to $500,000: Companies with relatively low income in the past five years can take one of the above credits as a credit against Social Security payroll taxes. The limit on the amount they may claim would double from $250,000 to $500,000.
This proposal is supported by the National Association of Manufacturers.
The full text of the legislation can be found here.
The new initiatives were launched to help Indiana businesses restart, adapt and stimulate long-term growth, especially small businesses and manufacturers.
June 1, 2020
Indiana is launching several new economic recovery initiatives designed to bolster critical relief efforts while encouraging long-term planning and investments to stimulate the state’s economy well into the future. Through these initiatives, the state will allocate nearly $44 million to provide support and resources including approximately $37 million in direct funding through grants and investments to small businesses and manufacturers – two key drivers of the Hoosier economy.
“To restart Indiana’s economic engine, it’s critical that we provide Hoosier businesses and entrepreneurs with the support they need to grow and get back on track,” said Governor Eric J. Holcomb. “These initiatives will ensure that two critical drivers of our state’s economy have access to resources and technological tools that allow them to continue competing and leading in the 21st century economy, while further positioning our state for long-term economic growth.”
To safely guide a return to economic activity, the state will deploy federal relief funds under the CARES Act in coordination with Indiana’s Economic Relief and Recovery Team, while targeting initiatives aimed at achieving long-term economic stabilization.
Small Business Restart Fund: Gov. Holcomb approved $30 million in federal funding made available through the CARES Act to small business restart grants, helping accelerate the speed of economic recovery activity by providing working capital to cover certain expenses related to the global pandemic. Indiana small businesses with fewer than 50 employees and $5 million in annual revenue that have experienced a 40% drop in revenue will be eligible to be reimbursed for up to 80% of qualified expenses, such as rent or mortgage payments, utilities, lease payments for real or personal property, and safety investments, such as personal protective equipment (PPE) and infrastructure improvements.
Eligible small businesses that demonstrate a revenue loss of at least 40% will be awarded up to $2,500 for each month while small businesses that demonstrate a revenue loss of at least 80% will be awarded up to $5,000 for each month, with grants issued up to $10,000 per company. Of the $30 million allocated to the fund, at least $5 million will be reserved for certified minority- and women-owned businesses.
Small Business Relief & Planning Resources: The Indiana Small Business Development Center (Indiana SBDC) received nearly $3.7 million from the U.S. Small Business Administration (SBA) through the CARES Act to support increased resources for entrepreneurs and small businesses over the next 18 months. The funding, which will nearly double the organization’s annual federal appropriations, will enable Indiana SBDC to increase no-cost services, such as counseling and training, for businesses that were in operation prior to and that have been impacted by COVID-19. Services will be available through the Indiana SBDC’s 10 regional offices across the state and are expected to focus on financial assistance, e-commerce, business adaptation and innovation, disaster resiliency and planning, and reopening plans.
Manufacturing Support & Long-Term Growth: The Indiana Economic Development Corporation (IEDC) board of directors approved $10 million to launch the Economic Activity Stabilization and Enhancement (EASE) program aimed at supporting technology and operational advancements in the manufacturing industry, which has long been a key driver of the state’s economy. EASE, which encompasses three complimentary initiatives, is designed to stimulate manufacturing investments that will position Indiana operations, and the sector overall, for future growth and prosperity by prioritizing startup investment and resources, technology modernization and development, and training assistance.
The three EASE initiatives include:
The new Smart & Advanced Manufacturing (SAM) Focus Fund, which will make seed and early-stage investments and provide entrepreneurship resources to Indiana manufacturing-focused startups through Elevate Ventures, the state’s venture development partner;
Manufacturing Readiness Grants, administered in partnership with Conexus Indiana, will provide matching grants of up to $200,000 to companies committing to modernizing their operations or integrating smart technologies and processes in order to improve capacity, or to companies investing in health care manufacturing technology, providing financial assistance to manufacturers supporting critical COVID-19 response efforts; and
A planned Smart Manufacturing Studio Lab, which will provide lab space and access to state-of-the-art smart manufacturing equipment, enabling businesses to train employees, validate technologies for their business models, and conduct third-party pilot manufacturing.
Of these programs, the SAM Focus Fund will launch immediately while the Manufacturing Readiness Grant applications are expected to be available in July with initial grant recommendations beginning in August. The IEDC will partner with industry stakeholders to develop a project scope for the Smart Manufacturing Studio Lab, mapping out next steps and a plan to source and supply the equipment, working toward a studio launch in early 2021.
Indiana’s manufacturing and small business sectors play critical roles in supporting the state’s economy. With more than 8,500 manufacturing facilities and the highest concentration of manufacturing jobs in the U.S., manufacturing accounts for 27.8% of Indiana’s total economic output. Additionally, according to the SBA, Indiana is home to approximately 104,335 small businesses that employ fewer than 150 associates, supporting 941,578 workers across the state.
Employers with an approved internship may receive state matching funds by hiring students, eligible to receive state financial aid, for a resume-building, experiential, paid internship. CHE is partnering with Indiana INTERNnet to better match students and employers to maximize each student’s academic success and career achievement and to assist employers in finding the perfect fit for their team.