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Boone EDC Weekly
Greetings from the Boone EDC,
Welcome to Boone EDC Weekly.
As an organization, the Boone EDC is constantly researching and benchmarking to learn what our competing communities are doing to attract and retain business. Boone EDC Weekly is a compilation of noteworthy National and Indiana news about economic development trends. We will also post information about upcoming conferences, events, and
webinars that you may find interesting.
Boone EDC Weekly is another tool that you can refer to as a community leader to help Boone County continue to move forward in a positive manner.
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| Indiana is Having a Great Year
Despite a slowly-recovering economy, the chief executive officer of the Indiana Economic Development Corporation says the state is closing twice as many deals, compared to 2009. Dan Hasler says the IEDC is poised to reach its goal of 250 corporate deals this year and is benefiting from continued national praise for the state's business climate.
In its annual "Best and Worst States" for business rankings, Chief Executive magazine places Indiana as fifth best in the nation. In a Studio(i) interview with Gerry Dick, Hasler discusses the ranking and the role right-to-work legislation is having on economic development activity.
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| The Value of Incentives
Every state has at least one tax-incentive program for economic development, according to a recent report by the Pew Center on the States which concluded that "no state ensures that policy makers rely on good evidence about whether these investments deliver a strong return."
Over roughly the past decade, the number of loan, grant, tax-credit and other incentive programs has doubled, according to the Council for Community and Economic Research. While the total amount of money involved is unknown, Pew reports that, for tax incentives alone, state governments spend more than $9 billion annually.
Click here to learn more.
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| Funding to Help With Wabash Business Park
The city of Wabash has been awarded a nearly $2 million federal grant to help develop a new business park. The funding from the U.S. Development Administration will support infrastructure improvements for the park, which city officials say could ultimately generate approximately 540 new jobs.
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How Cities and Small Businesses Can Grow Together
Small businesses are essential drivers of America's cities, and your company and others like it have the capacity to make your city a prime location, location, location!
As businesses invest in their community, the community grows and becomes healthier. Businesses then reap the benefits of being part of a thriving community. This principle of shared value - creating economic value while also creating value for society - lies at the very heart of economic success.
Click here to learn more.
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Facebook paying Menlo Park Millions for Expansion
Facebook plans to pay millions of dollars to the city of Menlo Park in exchange for its approval of the social networking giant's plan to increase the number of workers in its new headquarters. The Menlo Park City Council has approved a development agreement that spells out a series of payments and actions to offset the cost of allowing Facebook to expand. In exchange, Menlo Park has agreed to process permits quickly and refrain from making Facebook pay any unexpected fees.
According to the agreement, Facebook will pay a guaranteed $8.5 million to the city spread over the next 10 years (annual payments of $800,000 for the first five years and of $900,000 for the following five years). This is to compensate Menlo Park for the sales tax or other revenue that it may have received if the site were used by a company that produces sales tax, according toMercury News. Facebook will also pay $1 million per year for the five subsequent years, along with increases based on the Consumer Price Index (CPI).
Furthermore, Facebook said it will make a one-time payment of $1.1 million for city capital improvement projects. Last but not least, the company is also contributing a $500,000 donation to provide job training, a high school internship program, economic incentives to encourage employees to patronize local businesses, improvements to nearby public trails, participation in the Caltrans Adopt-a-Highway program, housing assistance through investments in low-income housing tax credits, and potential contributions to a housing development project.
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| 'Cash Mob' Helps Struggling Hardware Store
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What Cities Can Learn from Toronto's Green Roof Policy
In January of 2010, Toronto became the first city in North America to require the installation of green roofs on new commercial, institutional, and multifamily residential developments across the city. Next week, the requirement will expand to apply to new industrial development as well.
Simply put, a green roof is a rooftop that is vegetated. Green roofs produce multiple environmental benefits by reducing the urban heat island effect and associated energy demand, absorbing rainwater before it becomes runoff, improving air quality, and bringing nature and natural diversity into urban environments. In many cases, green roofs can also be enjoyed by the public much as a park can be.
Click here to learn more.
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Ball State Community Development Course
The Community Development Course is a must attend for all community and economic developers! It is a three-day, unique educational experience which utilizes a mix of theoretical and practical applications applied to real life situations.
Mentors with over 75 collective years of experience will facilitate your learning throughout the program. Real-life case studies will be discussed and you will leave the course with new strategies to deal with the community challenges you face. You will interact with community development professionals from across the state and learn from their experiences and background.
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Boone County Cash Mob
A cash mob is a way to support a locally owned business with a little home-grown economic stimulus. Here's how it works. At a specific place and time, people are invited and encouraged to show up and spend $20 or more and also to invite their friends to do the same.
The next Cash Mob will be at Faucett & Flame!
When: Saturday, May 5 from 12:00 - 2:00 p.m.
Where: 320 E. Main St. Lebanon, IN 46052
Phone: (765) 482-6090
We hope to see you at Faucett & Flame for Refreshments, Entertainment, and Floral Giveaways!
Support the Cash Mob on Facebook
Follow the Cash Mob on Twitter
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CDFA Innovation Finance Webinar Series
Innovation Finance
A critical component of the development finance toolbox, innovation finance provides access to capital for entrepreneurs, new technology ventures, and emerging small businesses. CDFA's Innovation Finance WebCourse
explores the growing seed, venture capital and angel investment industry and provides clear direction for designing and implementing capital formation models at the local, regional, and state levels. This course differs from other capital formation curriculums in that it focuses more concretely on designing a program that uses public-sector connections, resources and coordination to drive long-term and sustainable private-sector investment.
When: May 8-9, 2012 @ 1:00-5:00 p.m. Eastern
Cost: Member - $550
Non-Member - $675
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Boone EDC Video Blog
 | | Robert Goodman Jewelers is a family owned jewelry store located on North Main Street in Zionsville. |
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Meeting Dates:
Boone County Commissioners: - May 7 @ 9 a.m. Boone County Council: - May 8 @ 8:30 a.m. Boone County APC: - June 6 @ 7 p.m. Boone County RDC: - May 18 @ 2 p.m. Advance Town Council: - May 14 @ 7 p.m. Jamestown Town Council: - June 5 @ 7 p.m. Lebanon City Council: - May 14 @ 7 p.m. Thorntown Town Council: - May 21 @ 7 p.m. Whitestown Town Council: - May 8 @ 6:30 p.m. Zionsville Town Council: - May 7 @ 7 p.m. Boone EDC Board of Directors: - May 24 @ 4 p.m. Boone EDC Executive Committee:
- May 10 @ 7:30 a.m.
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