Northeast Indiana Details Strategic Regional Development Plan – Inside INdiana Business
The Northeast Indiana Strategic Development Commission (NEISDC) on Tuesday released its 2023-2028 strategic plan for the region, which seeks an investment of $75 million. 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 to be distributed in annual installments of $15 million 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 aims to increase post-secondary education and graduation for residents from 42.2% to 48.1%, and increase investment to meet growing residential demand.
The plan also calls for increasing the region’s per capita personal income from the national average of 81.9% in 2020 to 85.9% by 2028.
“The Northeast Indiana Regional Chamber and our private sector members understand that our workforce, supply chains, communications and other critical infrastructure are regional in nature,” said the House CEO Bill Konyha in written remarks. “The Strategic Development Plan gives us the best 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 Sen. Travis Holdman (R-Markle) said the commission met the goal set by the legislature.
“To identify, through dozens of interviews with stakeholders throughout the region, the goals for our communities to continue to be the envy of other parts of Indiana,” Holdman said. “This work will be a model of statewide collaboration.”
The plan will be implemented in conjunction with various regional organizations, including the Northeast Indiana Regional Development Authority (RDA), the Northeast Indiana Regional Partnership, the Northeast Indiana Regional Chamber, the Local Economic Development Organization (LEDO) Council and Mayors and Commissioners Caucus.
The NEISDC says state funding, if approved, will be leveraged to pursue additional funding streams for the plan. The commission also plans to update the plan every five years.