From staff and wire reports

LSI Industries offers 5-for-4 stock split

LSI Industries Inc., Blue Ash maker of lighting and graphics, announced a 5-for-4 stock split for shareholders as of Nov. 7, with payment set for Nov. 14.

The split, LSI's fifth since going public, is designed to increase the number of shares available for trading and make the share price more attractive to retail investors.

The company said cash would be paid in lieu of fractional shares.

LSI declared a regular cash dividend of 9 cents a share Oct. 20 for investors of record Nov. 5 and payable Nov. 12.

Hillenbrand sells gas pipeline business

Hillenbrand Industries Inc. has sold its medical gas pipeline business for an undisclosed price as the Batesville, Ind., company continues to reshape its medical products business.

Hillenbrand said Beacon Medical Products LLC, a privately held unit of Riverside Co., has acquired the business that's now part of Hillenbrand's Hill-Rom unit. The business accounted for $40 million in sales last year and is expected to generate $46 million in revenues this year.

Last week, Hillenbrand acquired Advanced Respiratory Inc., a maker of noninvasive airway clearing products, for $83 million.

Ashland to get Ky. high-tech incubator

The first of a Kentucky network of 15 high-tech incubators for business and economic development is coming to the campus of the Ashland Community and Technical College.

The Ashland Innovation Center, which will offer resources, advice and other services to budding technology businesses, is planned to open within 90 days, as soon as a director is hired.

"They are looking for somebody who has a passion for growing that region of the state," said Terri Giltner, spokeswoman for the Kentucky Office of the New Economy. "People all over the state in really tiny locations are coming up with new ideas. There is a real renaissance going on."

It will be the first in a network of satellite innovation centers and will be affiliated with six larger regional entrepreneurial incubators to provide support, funding alternatives and other services such as mentoring and technology services to fledgling firms.

"We are looking for somebody who understands entrepreneurism and the components of how people will create wealth in the future," she said. "Technology and science will be the fuel for future growth."

While other states have focused on entrepreneurship that supports existing economies in metropolitan areas, the Kentucky effort will instead target job and company creation in rural, undeveloped regions. "We are reaching out to the entire state," she said.

For more information on the center, contact the Office of the New Economy at (502) 564-8007.

Columbus to be given first Lazarus store

The original Columbus Lazarus store, scheduled to close next year, will be donated to the city, owners said Monday.

Cincinnati-based Federated Department Stores Inc. will give the downtown building to the city through the Columbus Downtown Development Corp. Jan. 31. The corporation is a private, nonprofit group in charge of developing downtown.

Federated cited declining sales as a reason for closing the downtown landmark, built in 1909.

The six-story building has been assessed at $18 million. The agreement also allows the corporation to buy the neighboring 4.28 acres, which includes a parking garage and surface parking lots valued at $7.2 million, for $5.7 million.