Economy

July 03, 2008 03:36 pm

— Cass County has seen some mixed economic news of late.
On the negative side is that county’s unemployment rate continues to climb. The rate for May was 5.6 percent, up from 5.3 percent in April. The rate was also higher compared to the 4.5 percent recorded in May 2007.
The rate is also higher than the state rate of 5.1 percent and the national rate of 5.2.
Cass County ranks 41st statewide for the size of its labor force and 38th for the number unemployed.
That number is destined to grow larger as Modine Manufacturing works on severance packages for its remaining employees.
On the positive side, though, the Logansport-Cass County Economic Development Foundation reports a high level of interest in the county’s lone shovel ready industrial site, and it’s already looking at developing a second.
The 12.8-acre location in the Logan-Cass Industrial Park was certified under the Indiana Economic Development Corporation Shovel Ready program in late October .
Skip Kuker, the foundation’s executive director, told board members last week that he’d fielded inquiries from as far away as Canada. While he has yet to find an occupant, Kuker believes the interest is high enough to justify development of a larger site, this time with rail access.
Earning a shovel ready designation requires a good deal of preparation, but the work leads to a much faster turn-around whenan industrial prospect comes along.
At the same time, Logansport continues to draw retail interest. Plans by Wal-Mart to develop a supercenter behind the Logansport Mall have led to inquiries from other businesses, and the city has seen other development as well. Radio Shack has returned to the mall, and ALDI Foods and O’Reilly Auto Parts are building new stores along Market Street.
Times are tough nationally, but such investments have to be seen as a positive sign.
The last two years have been a struggle, but we see brighter times ahead.