In preparation for submitting an application for a grant from the State of Indiana’s Regional Cities Initiative, the Regional Cities of Northern Indiana group has been working collectively to identify a short list of bold economic development projects that will help transform the economy of the entire four-county region. As part of this process, the public is now being encouraged to submit project applications that can also be considered for inclusion between now and May 1st.
“While many projects have been identified through work group sessions held in Elkhart, St. Joseph, Marshall and Kosciusko counties, we want to ensure that all potential projects have the opportunity to be considered for inclusion in the plan,” said Steve McKnight of consulting firm Fourth Economy. “Opening this to the wider public through this online application process is important.”
“We’re seeking applications for projects that enhance the community to improve the economy and quality of place,” said Amish Shah, President of Kem Krest Corporation in Elkhart. “Ultimately that’s what will attract talent to support our growing innovation-based economy.”
“Programming is a critical part of the overall regional plan,” added McKnight. “If the Indiana Economic Development Corporation (IEDC) agrees that we have developed good programming and good projects, we’ve got a shot at matching grants from the Regional Cities Initiative. And that money will be used for the brick and mortar projects.”
The IEDC criteria requires distinct, feasible projects with realistic budgets, return-on-investment calculations and clear timelines. Projects must be implementable within a 12-month time frame and their budget should represent a public-private partnership that consists of 60% private sector funding, augmented by 20% co-investments from both the local and state government.
Projects may fall into these major areas: infrastructure, redevelopment of blighted physical assets, cultural amenities, quality of place, industry-specific development, education and incumbent workforce, innovation and technology, and talent attraction.
“The exact amount of available state funding will be determined through the legislative process. And while the proposed level of investment to our region has the ability to increase the scope and speed of project implementation, it is important to recognize that in any event, we benefit greatly by collaborating regionally to develop a bold vision for our future,” Shah said. “This process is already providing a very strong portfolio of ready-to-execute projects that will move us toward that vision.”
Project applications will be reviewed by the Regional Cities of Northern Indiana steering and strategy committees. A Regional Development Authority (RDA) will be established to support ongoing Regional Cities of Northern Indiana activities.
The public is invited to view the project intake form at: www.RegionalCitiesofNorthernIndiana.com.
About the Indiana Regional Cities Initiative
The Indiana Regional Cities Initiative, developed by the Indiana Economic Development Corporation, seeks to approach economic growth and prosperity in Indiana by catalyzing the state’s cities and regions through talent attraction and quality of place initiatives. For more information, visit www.IndianaRegionalCities.com.
About Regional Cities of Northern Indiana
Regional Cities of Northern Indiana serves every citizen and business organization of Elkhart, Kosciusko, Marshall and St. Joseph counties through a commitment to pursuing transformational economic development projects and strategic initiatives for the entire four-county region. In doing so, the group consists of and leverages the vast experience and services of Northern Indiana’s leading business, academic, philanthropic and government leaders. For more information, visit www.RegionalCitiesofNorthernIndiana.com
