Northeast Indiana details strategic plan for regional development … – Inside INdiana Business

The Northeast Indiana Strategic Development Commission (NEISDC) on Tuesday released its 2023-2028 strategic plan for the region, which seeks $75 million in investment. The commission says the funding will be used to invest in strategies that will expand the region’s labor pool through talent attraction and retention, talent development and housing.
The plan calls for state funding that would be distributed in $15 million annual increments by the NEISDC.
The commission says the plan’s priorities include doubling the region’s population growth to 5%, which would add about 40,000 residents. Additionally, the plan seeks to increase postsecondary education and credential attainment for residents from 42.2% to 48.1%, and increasing investment to meet growing residential demand.
The plan also calls for increasing the region’s per capita personal income relative to the national average from 81.9% in 2020 to 85.9% by 2028.
Connect to the full plan by clicking here.
“The Regional Chamber of Northeast Indiana and our private sector membership understands that our workforce, supply chains, communications, and other critical infrastructure are regional in nature,” Chamber CEO Bill Konyha said in written remarks. “The Strategic Development Plan provides us with the greatest opportunity to develop an economy in which our local businesses and communities thrive in a global marketplace.”
The commission was created by the Indiana General Assembly in 2021 to develop the plan. State Senator Travis Holdman (R-Markle) says the commission achieved the goal set forth by the legislature.
“Identifying, through scores of stakeholder interviews across the region, the goals for our communities to continue to be the envy of other regions throughout Indiana,” said Holdman. “This work will be a blueprint for collaboration statewide.”
The plan will be implemented in collaboration with various regional organizations, including the Northeast Indiana Regional Development Authority (RDA), the Northeast Indiana Regional Partnership, the Regional Chamber of Northeast Indiana, the Local Economic Development Organization (LEDO) Council, and the Mayors and Commissioners Caucus.
The NEISDC says the state funding, if approved, will be leveraged to pursue additional funding streams for the plan. The commission also expects to update the plan every five years.
“Build it and they will come.” The phrase has been used in business for decades—a way of saying, ‘start that company and it will succeed.’ And while baseball fans flocked to the Field of Dreams in the iconic movie from 1989, anyone who has started a business knows, it takes more than just a great idea. It takes that plus dedication, persistence and a solid strategy. Sometimes it also takes incentives, big monetary incentives….
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