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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 Vision 2025: Heating Up the State's Business Climate
The Indiana Vision 2025 task force lists 13 diverse goals under the business climate driver. Two - adopting a right-to work (RTW) law and eliminating the state inheritance tax - were accomplished in the 2012 legislative session after many years of effort. Others are quite complex, ranging from changes in various tax policies and improved health care to the regulatory, legal and local government structures.
The initial accomplishments, particularly RTW, were encouraging. "As we put right-to-work on top, I don't think we did it because we thought it had the nearest-term resolution," states Mike Rechin, president and CEO of First Merchants Corporation in Muncie. "I think we put it on top because it was the most substantive. Right-to-work gives us the highest probability of having a net positive inflow - and the resources I'm referring to here are jobs, whether at the employer or individual level."
Click here to learn more.
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| Indiana's Unemployment Rate Goes Down
Indiana's unemployment rate is below 8 percent for the first time since November 2008. The Indiana Department of Workforce Development says the April rate was 7.9 percent, down from 8.2 percent the previous month. Commissioner Scott Sanders says the private sector added 15,400 jobs last month.
Click here to learn more.
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| Indiana's Plan to Steal California Jobs
Some Californians may have recently noticed an advertisement with a coffee mug and the word "Indiana" written in the milky latte foam. A crumpled napkin sits next to the mug with this scribbled on it: "Admit it, you find me fiscally attractive." On another napkin it reads, "Indiana: low taxes, pro-business, fiscally responsible."
Ads like this are part of the Hoosier state's new push to lure California companies 2,300 miles east, trying to convince them to give up the morass of California regulations and high business taxes, in exchange for the regulation-light, low tax business nirvana of Indiana.
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Hicks: Residential Development is Key for Henry County
Ball State University economist Michael Hicks fielded questions from Henry County government and civic leaders about a university study that gave the county low grades in its Indiana Community Asset Inventory and rankings. Of particular concern was Henry County's 'F' letter grade for its government impact and economy. Only nine of the state's 92 counties received failing marks in that category.
"You can say that I'm wrong, that these data are misguided or I have some intention of damaging communities. But we've used 115 different variables to compare all 92 counties," Hicks said. "And I would invite anybody who can think of another 115 that would paint a qualitatively different picture to let me know. In many ways, this is what we wanted, is to have forums like this throughout the state."
Hicks also offered Henry County some suggestions for improvement.
"Growth is going to occur in places that are prepared for residential development," Hicks said. "These are places that people want to live. That growth is coming for the next generation plus. The question is ... how ready is New Castle and Henry County to have that residential growth, and jobs with it as well. Those are the fundamental economic development questions of our time for this county."
Click here to learn more.
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| Fort Wayne to Give More to Development Alliance
Fort Wayne will give its main economic development engine more money to encourage growth and attract development.
The City Council on Tuesday unanimously supported paying $250,000 to the Fort Wayne Allen County Economic Development Alliance. The city has paid $200,000 to the group in previous years.
"We've got to send the message out that we are pro-business, pro-growth," Councilman Glynn Hines said.
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Hicks: State Unemployment Rate a 'Good Sign'
A Ball State University economist believes Indiana's unemployment rate is a sign of optimistic long-term prospects for the state. Center for Business and Economic Research Director Mike Hicks says the 7.9 percent unemployment rate is lower than forecasts had estimated, but he cautions there are warning signs, including the fact that Indiana lost a sizable portion of its labor force in April. |
Shelby County to Partner with Rose-Hulman
The Shelby County Development Corp. moved one step closer to community collaboration for economic development at Monday's meeting of the Shelby County Commissioners.
SCDC past president Chris King presented a request for a partnership with Rose-Hulman Institute of Technology in Terre Haute. The City of Shelbyville has been working with the university for many months on beginning a partnership, and SCDC also will play a role.
The partnership will help strengthen and expand that base through education and career development in science, technology, engineering and math.
"That's one of the complaints you always hear about manufacturing, that there's not enough good people here," Commissioners President Tony Newton said.
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| Atlas Webinar: Regionalism for Economic Development
With greater emphasis on job creation by state and local officials, economic developers are continually pressured to be the drivers of positive change in their
communities - often with little to no funding and in one of the most challenging economic climates the country has ever seen. Yet, the most successful economic development organizations have found ways to leverage innovative technology and partnerships, influence policy, promote their communities and collaborate with one another to increase the probability of retaining business in their own communities and attracting business from outside their communities.
When: Wednesday May 30, at 11:00 AM EST
Registration will be open at no cost for the first 20 participants.
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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.
Our Next Cash Mob will be Saturday, June 2 from 1:00-3:00 p.m. at Akard True Value Hardware in Zionsville!
Support the Cash Mob on Facebook
Follow the Cash Mob on Twitter
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Boone EDC Video Blog
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Zionsville Economic Development Video
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Meeting Dates:
Boone County Commissioners: - June 4 @ 9 a.m. Boone County Council: - June 12 @ 8:30 a.m. Boone County APC: - June 6 @ 7 p.m. Boone County RDC: - June 15 @ 2 p.m. Advance Town Council: - June 11 @ 7 p.m. Jamestown Town Council: - June 5 @ 7 p.m. Lebanon City Council: - May 28 @ 7 p.m. Thorntown Town Council: - June 18 @ 7 p.m. Whitestown Town Council: - June 12 @ 6:30 p.m. Zionsville Town Council: - June 4 @ 7 p.m. Boone EDC Board of Directors: - May 24 @ 4 p.m. Boone EDC Executive Committee:
- June 14 @ 7:30 a.m.
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