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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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U.S. Treasury CDFI Fund Receives Record Number of Applications
U.S. Treasury CDFI Press Release
The U.S. Department of the Treasury's Community Development Financial Institutions Fund (CDFI Fund) announced today that it received a total of 282 applications under the 2012 round of the New Markets Tax Credit Program (NMTC Program). The NMTC Program encourages economic development in low-income and distressed communities by making tax credits available to Community Development Entities (CDEs) for targeted investments in eligible areas.
The CDEs that applied under the 2012 round are headquartered in 44 states, the District of Columbia, and Puerto Rico. The applicants requested an aggregate total of $21,901,474,907 in NMTC allocation authority.
"The steady demand for New Markets Tax Credit allocation authority illustrates how effective this program is in encouraging economic and community development in low-income communities across America," said CDFI Fund Director Donna J. Gambrell. "The 2012 round is the tenth award round of the program, and our strong application numbers illustrate how we've established the New Markets Tax Credit as an essential tool for generating impact through investments."
Click here to learn more.
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States Turning to Private Infrastructure Investments
The Bond Buyer - Jennifer DePaul
At a time when states and municipalities face more than $2 trillion of unfunded pension fund liabilities, states are increasingly turning to private infrastructure investments to help close those funding gaps, an investment banker told treasurers meeting here this week.
All institutional investors in North America - including public pension plans, endowments, sovereign wealth funds and foundations - are expected to increase their investment allocations for infrastructure by 32%, to 5.7% from 4.3% of their portfolios over the next two to three years, said Mark Weisdorf, chief executive and managing director of global real assets infrastructure investments at JPMorgan Asset Management.
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Vision for Downtown Jasper Development Considered
Jasper Herald / Indiana Economic Digest - Candy Neal
JASPER - The Square is a beautiful area that attracts visitors. Old Jasper, which lies near Patoka River, is another attraction.
City officials want to examine what could and should be done to further develop these and other areas in the downtown vicinity.
"We're looking at a vision for the entire area," Jasper Mayor Terry Seitz said. "What do we want to preserve? What do we want to improve?"
The Jasper Common Council decided this week to set aside $40,000 of economic development income tax funding to study those possibilities. The money is part of 2011 EDIT funding the state neglected to send back to the city that year but that has now been received.
"The downtown area is a gem in our community," Seitz said. "We have this opportunity to use these found dollars to look at a vision for the greater downtown area.
Click here to learn more.
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'Golden Spike' Seminar to Focus on High-Speed Rail
Inside Indiana Business A presentation is set for next week to examine proposed high-speed rail corridors that would run through the state. The annual Golden Spike Seminar will include discussions on the Indiana branches of a potential rail network connecting major regional cities. Dr. Alexander Metcalf, president; CEO of Transportation Economics and Management Systems, Inc. in Fredricks, Maryland will present the Chicago to Fort Wayne corridor, which will go on to Lima, Ohio, and Chicago to Indianapolis corridor, which will go on to Cincinnati, Ohio, and John Myers, project manager at HNTB, Inc. in Indianapolis, will present the Chicago to Michigan City corridor, which will go on to Detroit, Michigan. All corridors are proposed to stop at a new transportation center being considered for the Gary Chicago International Airport. These corridors are all part of the Midwest Regional Rail System, a 3,000 mile network passenger rail in eight states, including Indiana, that will connect major cities in the Midwest. Reservations are $45.00 in advance or $55.00 at the door, which includes lunch, and can be made by logging on to indianahighspeedrail.org or contacting Dennis Hodges at (219) 887-1351 or dennis@indianahighspeedrail.org. |
Mini Loans in U.S. Feed Bigger Ambitions
The Wall Street Journal - Joseph - Adinolfi Generally, many large banks in the U.S. are turning away from small-business loans, preferring instead to issue business credit cards to small-business owners, according to Bob Coleman of Coleman Publishing, a website and weekly newsletter about small-business finance. Little data exist on the lending practices of nonprofit and for-profit U.S. microlenders, but bankers say the business is expanding. The U.S. microlending marketplace generally is slightly different from that in other countries, where peer lending is more common and where loans can be very tiny, sometimes just hundreds of dollars or less. The U.S. nonprofit microlenders generally receive funding from private donations and from state and federal programs. Nearly all of them are classified as community development financial institutions and receive block grants ranging from about $1,000 to $1.5 million annually through the U.S. Small Business Administration. The U.S. agency distributed nearly $47.5 million in microloans during its 2011 fiscal year, the largest sum in its 20-year history, through 170 nonprofit lenders. In the last decade, the SBA microloan program's average loan size has steadily declined from about $14,200 to $11,750, a sign that lenders have continued to supply small-dollar loans, even as credit dried up during the economic downturn. The Business Center for New Americans, Grameen America, and members of the Accion U.S. Network in New York, Chicago and Texas are all partners with the SBA microloan program. |
CDFA WebCourse: Intro to Public-Private Partnerships
The Intro Public- Private Partnership Finance WebCourse examines this emerging development finance model with a focus on how development finance agencies can adopt P3 principles to address a variety of projects. This course will cover basic P3 concepts, key players involved in transactions, asset valuation, contract negotiation, risk assessment, revenue stream development and feasibility analysis. In addition, several P3 projects from across the country will be presented, and P3 experts will analyze the successful elements in each deal.
When: December 12-13
Time: Noon - 5 PM
Cost: Member $550 Non-Member $600
Click here to learn more.
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Fanimation Invites You to Urbanjet Release Party
You are invited to join Fanimation for a family friendly event celebrating the release of their new retro-styled URBANJET desk fan. See over 450 antique fans in their Antique Fan Museum and drool over a variety of cool classic cars while dinner on delicious FREE food from Edwards Drive-In Dashboard Diner food truck. When: Saturday, September 29 Where: 10983 Bennett Pkwy, Zionsville, IN 46077 Time: 11:00AM to 2:00 PM Cost: FREE |
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New Boone EDC Board Member
The Boone County Economic Development Corporation (Boone EDC) is pleased to announce that Jamie Ford- Bowers is now a member of the Boone EDC Board of Directors!
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Meeting Dates
Boone County Commissioners: - October 1 @ 9 a.m. Boone County Council: - October 9 @ 8:30 a.m. Boone County APC: - October 3 @ 7 p.m. Boone County RDC: - October 19 @ 2 p.m. Advance Town Council: - October 8 @ 7 p.m. Jamestown Town Council: - October 2 @ 7 p.m. Lebanon City Council: - October 8 @ 7 p.m. Thorntown Town Council: - October 15 @ 7 p.m. Whitestown Town Council: - October 9 @ 6:30 p.m. Zionsville Town Council: - October 1 @ 7 p.m. Boone EDC Board of Directors: - October 25 @ 4 p.m. Boone EDC Executive Committee:
- October 11 @ 7:30 a.m.
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