Business briefs for May 10

0
274

McCordsville wine to be served at Indians games

INDIANAPOLIS — Beverages from McCordsville-based Daniel’s Family Vineyard & Winery will be for sale at Indianapolis Indians games throughout the 2019 season.

The vineyard and winery announced in a press release that it is sponsoring the team and that the partnership will allow baseball fans to buy the business’ red, white and rosé varietals as well as wine slushies.

Daniel’s Family Vineyard & Winery will offer free samples to those 21 and older at eight games throughout the 2019 season, including Victory Field’s Wine Night on June 16, when other local wines will be available for sampling as well.

More information on the games and what wines will be available for sampling is available on the winery’s Facebook page.

IDEM recycling grants up for grabs in Indiana

Public and private businesses, local governments and not-for-profits in Indiana are eligible to submit proposals for recycling grants ranging from $1,000 up to $250,000, the Indianapolis Business Journal reports.

The Indiana Department of Environmental Management announced the availability of the grants earlier this month. The grants are funded through IDEM’s Recycling Market Development Program. The agency says eligible projects will focus on reuse, reduction and recycling methods of municipal solid waste. A 50 percent match in funding is required. Proposals will be accepted through 5 p.m. on June 21.

More information on the program is available at in.gov/idem/4103.htm.

US productivity shows biggest quarterly rise in four years

U.S. productivity grew at a 3.6 percent rate in the first three months of this year, the strongest quarterly gain in more than four years and a hopeful sign that a long stretch of weak productivity gains may be coming to an end, the Indianapolis Business Journal reports.

The first quarter increase in productivity was more than double the 1.3 percent rate of gain in the fourth quarter, the Labor Department reported earlier this month. Labor costs actually fell in the first quarter, dropping at an annual rate of 0.9 percent, indicating that tight labor markets are not creating unwanted wage and inflation pressures.

If it continues, an uptick in productivity would be good news for President Donald Trump and his goal of achieving sustained economic growth above 3 percent. Productivity, the amount of output per hour of work, is a key factor determining an economy’s growth potential.

With the strong gain in the first quarter, productivity over the past year has grown by 2.4 percent, the best four-quarter gain since a 2.7 percent rise in 2010.

Productivity gains over the past decade have for the most part been lackluster, averaging annual gains of just 1.3 percent from 2007 through 2018. That was less than half the 2.7 percent gains seen from 2000 to 2007, a period when the economy was benefiting from technology improvements in computers and the internet.