A day after Wednesday’s opening of Section 4 of Interstate 69, graduate accounting students from Indiana University’s Kelley School of Business in Bloomington presented a consulting project to an economic development anchor on the other end of Section 4 – the Battery Innovation Center (BIC) based at WestGate@Crane Technology Park.
The group provided the center a financial model that will help it better forecast future revenue and income statements. In turn, this customized tool will allow the BIC to quickly project the impact of new investments or projects.
“These students have given us an excellent tool for estimating the financial impact of various business decisions. The model will give us information that will help guide our strategic direction,” said BIC President Dave Roberts.
The BIC also benefitted from the process of discussing its accounting and business needs with the future accountants.
“Through these conversations, we’ve collaboratively gained insight into how to leverage our unique capabilities to set ourselves apart as an industry-leader, which can be challenging given our rare public-private partnership model in the energy sector,” Roberts said. “We were also pleased to contribute to a great student learning opportunity, and deepen our connections with IU – a world-class research university in our backyard.”
The BIC was launched in 2013 to enhance Indiana’s capabilities in advanced battery technology – a key economic sector for the state and an area of strength for Naval Surface Warfare Center Crane. The BIC provides services for battery manufacturers, the defense industry, electric vehicle developers, and public utilities. It is housed in a state-of-the-art, 36,000-square-foot facility.
The students completed this project as part of a required semester-long course, during which they engage in consulting projects for area businesses under the direction of a faculty advisor.