High Performance Alloys, Inc. Honored as One of the 2011 Indiana Companies to Watch
(Windfall) - High Performance Alloys, Inc. "HPAlloy" has been recognized as one of the 2011 Indiana Companies to Watch, an awards program presented by the Indiana Economic Development Corporation, its Small Business Development Center network, Purdue University and the Edward Lowe Foundation.
Forty-three companies from Indiana will be honored as outstanding second-stage companies during the fourth annual Indiana Companies to Watch awards program, held on Aug. 25 in Indianapolis.
Companies to Watch is an awards program that celebrates Indiana's privately held second-stage companies, typically those businesses that are past the startup phase, are considered to be established, and face issues of growth, not survival.
Companies honored range in industries and have headquarters based in 19 counties throughout the state. Among the 43 honored companies in 2011 is High Performance Alloys, Inc.
High Performance Alloys, Inc. is a small family company that manufactures and distributes temperature resistant, corrosion resistant and wear resistant alloys. It was started in 1984 primarily to serve the needs of small to medium quantities of exotic materials. Small order requirements and expedited order fulfillment are some of the key services offered. Utilizing two plants in Windfall and Tipton Indiana, we service the globe with plate, sheet, bar, billet and forgings. Tipton is the manufacturing hub and distribution of bars and forgings, and Windfall serves as the administration and sheet, plate distribution. Plans are being made to consolidate the two facilities at the Tipton plant in a manufacturing expansion.
About Indiana Companies to Watch
Companies to Watch firms must employ between six and 150 full-time equivalent employees, have between $750,000 and $100 million in annual revenue or working capital in place, and demonstrate the intent and capacity to grow based on employee or sales growth, exceptional entrepreneurial leadership, sustainable competitive advantage or other notable strengths.
This year more than 300 Indiana companies were nominated and 213 companies submitted applications for the Companies to Watch program. From that pool, 111 finalists were selected, and 43 companies emerged to become the 2011 class of Indiana Companies to Watch.
This awards program is unique because of its focus on second-stage companies. The impact of these companies on Indiana's economy is immense. During 2006-2008 Indiana's resident companies averaged more than 33,000 second-stage establishments according to YourEconomy.org, an online resource of the Edward Lowe Foundation. Those second-stage companies employed more than 784,000 workers.
Looking at the contributions of these companies from a different perspective, from 2006-2008 only 9.5 percent of Indiana's resident establishments were in the second-stage category, however, they generated 37 percent of net new jobs.
Indiana Companies to Watch is a collaboration among the Indiana Economic Development Corp., through its Small Business Development Center Network, Purdue University and the Edward Lowe Foundation.
This program would not be possible without the generous support of Barnes & Thornburg LLP as well as Premier Capital Corporation, Katz, Sapper & Miller, KeyBank and Ivy Tech Community College. The program is also supported by media sponsors BizVoice magazine, Inside Indiana Business and Northwest Indiana Business Quarterly.
About the program presenters:
The state of Indiana's lead economic development agency, the Indiana Economic Development Corporation oversees Indiana's statewide business attraction and development efforts, coordinates state programs, and incentives for companies looking to grow in Indiana, and provides assistance and funding to Indiana entrepreneurs and high-tech start-ups.
The Indiana Small Business Development Center Network offers free and low-cost strategic assistance for growth oriented entrepreneurs and businesses with less than 500 employees. Funded in part by the federal and state government, the ISBDC is focused on growing the economy through small businesses.
As Indiana's land-grant university, Purdue University has a long history and commitment to Indiana's economic development. In today's knowledge based economy, this commitment is more important than ever. Purdue supports the Companies to Watch program through its Office of Engagement, Center for Regional Development, Burton Morgan Center for Entrepreneurship, College of Agriculture, Purdue Extension, Technical Assistance Program, and the Purdue Research Foundation.
The Edward Lowe Foundation inspired the creation of the Companies to Watch program to celebrate second-stage entrepreneurs and their companies. Established in 1985, the Edward Lowe Foundation is a Michigan-based nonprofit organization that supports entrepreneurship through recognition, education and research with a focus on second-stage companies-those that have moved beyond the startup phase and seek significant, steady growth. The foundation also encourages economic gardening, an entrepreneur-centered strategy providing balance to the traditional approach of business recruitment.
Contact Information: Cindy Miller, Marketing Manager, Cindy.Miller@hpalloy.com, 765-945-8230
