INDIANAPOLIS (March 10, 2016) – Governor Mike Pence and the Indiana Economic Development Corporation (IEDC) applaud the Indiana General Assembly for approving full state match funding at $42 million each for three Indiana regional development plans – North Central, Northeast and Southwest – as part of the Indiana Regional Cities Initiative.
“Since day one of this administration, we’ve made job creation job one, and the results speak for themselves,” said Governor Mike Pence. “Indiana has added 140,500 private sector jobs over the last three years, and the state’s unemployment rate is at a 15-year low. We have established Indiana as the best place to do business, and now we must become a global destination for talent.
“As we move into Indiana’s third century, it is imperative that we help accelerate the transformation of our regions into nationally recognized places to live, work and play. Last year, the Indiana Regional Cities Initiative sparked unprecedented collaboration across the state that resulted in bold and visionary regional development plans comprising 70 percent of the state’s population.
“It is essential that we support and encourage the implementation of these plans, notably in North Central, Northeast and Southwest Indiana. Together, these regions are expected to invest more than $2 billion in combined private and public investments. At a total of $126 million in state funding, each state dollar is expected to yield $15 invested directly into our communities, and that is a tremendous value for the state.
“I thank Indiana lawmakers for helping this initiative get off the ground last year and for allocating an additional $42 million to the Indiana Regional Cities Initiative, giving Hoosiers the tools to transform our regions and attract top talent for generations to come.”
With the passage of HB 1001 today, an additional $42 million will be allocated from the 2015 Tax Amnesty program to the Indiana Regional Cities Initiative in order to fully fund three Indiana regional development plans. These plans in North Central, Northeast and Southwest Indiana outline 100 quality of place projects totaling more than $2 billion in investments. More than half of these planned projects, including co-working spaces, new trails and revitalized downtowns, are currently scheduled to be completed by the end of 2018.
The IEDC continues to support and collaborate with the four additional regions who participated in the initiative – Central, East Central, Northwest and West Central Indiana. Additionally, the IEDC encourages other regions across the state to embrace regionalism and long-term planning focused on quality of place.
North Central Indiana:
“On behalf of more than half a million citizens who live and work in this region of Indiana, we want to express our gratitude to Indiana’s state legislators and Governor Pence for the support they’ve shown the Regional Cities Initiative and our development plans in particular. This is an historic moment for the state of Indiana and for the people of Elkhart, Marshall and St. Joseph counties,” said John Affleck-Graves, executive vice president of the University of Notre Dame, and chair of the Northern Indiana Regional Development Authority.
“Funding of the third regional city is great news for Fort Wayne and Northeast Indiana and equally great news for the economic progress of our state. These matching state funds will attract private sector investment to grow our state’s population, attract a new generation of talent for our employers and move our state forward,” said John Sampson, president and chief executive officer of the Northeast Indiana Regional Partnership.
“With the passage of the legislation to fully fund three regions as part of the Regional Cities Initiative, we are humbled by the faith the Indiana General Assembly and Governor Pence have placed in Southwest Indiana and we are committed to achieving the transformational goals outlined in the Indiana’s Great Southwest strategy,” said Beth McFadin Higgins, president of the Southwest Indiana Regional Development Authority.