Fourth Economy congratulates the Indiana Economic Development Corporation for their Excellence in Economic Development Award from the International Economic Development Council on September 19th, 2017. The Indiana Economic Development Corporation won the award for the state’s efforts related to quality of life investments designed to support the retention and attraction of talent through the Indiana Regional Cities Initiative.
“Fourth Economy supported our vision with a creative and engaged planning process that allowed us to launch the Regional Cities Initiative on solid footing and achieve quick success.” –Eric Doden former CEO for the Indiana Economic Development Corporation.
In two short years since implementation, the Indiana Economic Development Corporation has approved $80.6 million in state funding for 41 projects, with a total of $903.0 million investment leveraged, which is a 10.2-to-1 ratio. Over 60% of the committed funds are coming from private sector investments with the balance coming from local resources.
“We are very proud to have been a part of the initiative that is fostering regional collaboration, cross-sector partnerships, bold planning, and quality of place investments for businesses and communities in Indiana.” –Rich Overmoyer CEO of Fourth Economy
Mr. Overmoyer went on to add, “These investments made in a region’s core city and in surrounding communities through an investment portfolio approach is demonstrating a new model of civic collaboration and direct focus on economic growth and prosperity.”
The Indiana Regional Cities Initiative, overseen by the Indiana Economic Development Corporation, sets a framework for communities to come together to develop long-term visions and actionable plans. The Initiative is a Silver Award recipient for the Regionalism & Cross-Border Collaboration, Population Greater Than 500,000 category. The Indiana Regional Cities program was originally passed with bipartisan support in 2015 by the Indiana General Assembly.
Fourth Economy cites the Indiana Regional Cities development process as being a critical experience for the firm as they work in communities throughout the country seeking to create a new model for quality of place investment.