Top prizes: major economic-development projects of the past year.

• Author: Mayer, Kathy
• Position: Building Indiana

While investment in new facilities may not have been as robust in the last year as previous years, many of the state's industries recommitted to their workforce by investing in new equipment and processing methods.

Among the top economic-development projects of the past year were:

REGAL INDUSTRIES

Crothersville

$103 million

Regal Industries, headquartered in the state and the largest U.S. producer of cellulose insulation, expanded its plant by 24,000 square feet and made a sizeable investment in new production equipment. The highly automated new equipment, expected to be ready for production early this summer, allows the privately owned company to increase production by 50 percent.

"We are making a bunch of it ourselves," Tim Henry, assistant to the president, says of the automation. "We have to stay ahead of the pack. We're doing this to compete better."

Founded in 1970, Regal today employs 100 and expects to increase that some. Cellulose insulation, which competes against fiberglass products, can be used to insulate both walls and attics, Henry says. One of its newest products is called the Regal Wall System.

HILL-ROM CO. INC.

Batesville

$94.1 million

Building improvements, new machinery and equipment, and a software planning system added up to an investment of more than $94.1 million at Hill-Rom Go. Inc. in Batesville.

Part of Hillenbrand Industries, Hill-Rom is the company s health-care unit. In late 2000, Hillenbrand adopted a new strategy aimed at achieving full profit potential of its existing businesses, and this spring announced a new business structure for Hill-Room.

Hill-Rom's Care Environment Division, headquartered in Batesville, includes its patient platforms, architectural, furniture, medical gas and infant care businesses. Also in Batesville is the Services Division which includes capital service, parts and information systems businesses, and a service center network.

The company also reported it is eyeing expansion via acquisitions.

CONRAD HOTELS

Indianapolis

$75 million

A new luxury hotel is in the works for downtown Indianapolis across from Circle Centre at the corner of Washington and Illinois streets. Announced in early 2003, the project's final design and cost--expected to be between $70 million and $80 million--are still under review,

"We're working with the developer and everything is moving forward," says Jeanne Datz, Conrad's director of communications. "It's all very positive, and everyone is working together...