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June 10, 2009
As the housing market declined nationwide in recent years, so did business for Lafayette Venetian Blind Inc.
That's what Thomas Moore, the company's chief financial officer, told the Tippecanoe County Council Tuesday in explaining why the company didn't meet its mark on projected number of employees this year.
When applying for a tax abatement for an expansion at its Tippecanoe County manufacturing plant, Lafayette Venetian Blind executives estimated they would have added 50 new employees by this year. The company has added 43.
And Moore said the company had to lay off 77 people in February -- the first layoffs in 59 years for the company. So far, 30 of those employees have been brought back in, he said.
"We still see some positive things occurring with our sales," Moore said. "Our desire is to get those 47 (remaining) people back to work."
While missing a mark on business growth can cause problems for companies that are given tax abatements by a city or county, council members Tuesday expressed understanding of the current economic conditions.
Council member Jeff Kemper said the company has been a good community partner. And the council unanimously signed off on its annual review of the abatement.
The council also approved statement of benefits from Caterpillar Logistics Services Inc., and Voestalpine Rotec Inc.
Caterpillar Logistics' employee base remained above the estimate on its statement, as did the employee figures for steel manufacturer Voestalpine Rotec, formerly Elmsteel Inc., which houses its sole American automotive division in Lafayette.
Andrew Ball, president of Voestalpine Rotec, said the economy has hit everyone in the building goods sector. The company is still planning a $2.5 million equipment investment at the Lafayette site.
Ball said the company has had to lay off some of its employees but plans to call them back after the new equipment comes in near the end of summer.
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