THE SOUTHWEST INDIANA DEVELOPMENT INVESTOR
August, 2010
Are We In or Are We Out!
Will the economy double-dip or are we still in a recession. Peter Cohan, president of Peter S. Cohan, a management consulting and venture capital firm, wrote in his latest blog for Daily Finance, that we really haven’t emerged out of the first recession; and, though growth might be occurring it is happening at such a slow pace it doesn’t feel like real growth.
Contrast our country’s anemic growth over the past three years with that of Japan’s lost decade where economic expansion came to a total almost complete halt from 1991 to 2000. During this period, most Japanese households didn’t feel the economic effects on a daily basis but the long-term impact of nearly negative growth shifted Japan from having the world’s second largest economy to a point where today China’s economy has recently surpassed it.
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August, 2010
The Eagle Has Landed!
Good news for
Evansville Regional Airport with the addition of another daily Dallas flight on American Eagle starting in November. Most airlines are doing anything but adding new service and the new Dallas route comes at a good time as Evansville Regional Airport is also seeking a federal grant to add new service to the Washington, DC market, which will allow for greater air access to the east coast.
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August, 2010
Capital Campaign getting ready to Start
It’s hard to believe that the Coalition’s inaugural three-year capital campaign is nearly complete. Due to the financial generosity of Southwest Indiana companies and individuals, we’ve been able to achieve some significant accomplishments over this same time period.
Since 2007, the Coalition has helped secure $346 million in new investment, 1,780 new jobs and $33 million in grant funds to build community capacity in an economic environment that some might say has been difficult at best. A third of the Coalition’s annual budget is generated by contributions from the private sector.
We’re getting ready to kick-off another three-year campaign and we firmly believe that the Coalition has provided real value for all of our partners. Our goal is simple - to maintain private investment at $400,000 per year. If we are lucky enough to increase that number by adding new investors, it would be a strong plus as currently 80% of the Coalition’s private sector contributions are provided by just 28 investors.
Within the next 45 days, the Coalition will be reaching out to you asking for your continued support. I realize that these are tough economic times to be asking for financial support but much of the new investment and grant funds secured for Southwest Indiana would not have come about had the Coalition not existed. Your financial support makes what we do possible, and let me thank you in advance for your consideration.
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July, 2010
One Region, One Economy, One Voice July 2010
This month we’re following Toyota’s example and throwing a little “swagger”, a reference to the widely popular Sienna swgger wagon YouTube commercials, to the Coalition's Community Development Division, headed up by Debbie Bennett-Stearsman, for its outstanding efforts in grant activity. In 2010, Debbie and her team, Jeff Pruitt and Wylie Zeigler, have garnered over 35 grant awards for Gibson, Posey, Vanderburgh and Warrick Counties rulting in $9 million of funds flowing into our communities which leverages millions more in total project investment.
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July, 2010
SW Indiana 2010 Comprehensive Economic Development Strategy (CEDS) now online!
We are pleased to announce the CEDS document is now online. We want to thank our 2010 CEDS Committee and the Strategic Development Group (SDG) for their time and committment to diligently craft this document to not only benefit the future of Gibson, Posey, Warrick, and Vanderburgh counties individually but the future of our region.
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July, 2010
Great Article in the latest City-County Observer
Special thanks to Ron Cosby and the City-County Observer for a very gracious article about the Coalition contained in their latest edition. To do what we do takes a real team effort and significant support from the public and private sectors throughout our four counties. Though we think we’re doing a good job, it is humbling when a publication thinks so as well.
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July, 2010
Grant Seminar a Success!
Thank you to the many who attended our Grant Seminar for Elected Officials and their staffs. A big thank you to our guests from the Office of Community & Rural Affairs - David Terrell, Kathleen Weissenberger and Ellen Harper and Scott Miller with UMBAUGH for sponsoring the event!
The entire seminar is now available on our website or you may call our office for a DVD at 812-423-2020. There are a limited number of DVDs available.
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June, 2010
One Region, One Economy, One Voice - June 2010
I just returned last week from a 10-day trade and economic mission to Japan - the first as a region. Normally, we participate with the State of Indiana and will do so in the future, but we had a unique opportunity to travel as a region and chose to do so. Joining me on the trip were Todd Mosby, Gibson County Economic Development Corporation and Larry Taylor, Warrick County Department of Economic Development. We met with Japanese businesses who already have a presence in Southwest Indiana, as well as with several companies who are considering potential new investments in the region. The delegation also met with city and business officials from Tahara City - a friendship city to Princeton, Indiana.
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May, 2010
One Region One Economy One Voice
Economic development activity is even stronger in May, with 28 active projects, than it was in April. The continuing economic recovery remains a challenge though as companies hesitate to make final site location decisions. I’m not sure there has ever been a period of time in recent history where companies perform the necessary due diligence for a project and then delay the decision. As Southwest Indiana remains in the final group for two of Indiana’s largest economic development projects, our optimism is high.
Sometimes you just need to speak out for balance as has been the case in the continued scrutiny of Toyota. Toyota’s economic impact on Southwest Indiana has been significant and their responsiveness to quality issues has been, in my opinion, remarkably fast and unprecedented for U.S. automotive companies. In fact, their open communication with customers has taken viral social media to a new level. If you haven’t seen the YouTube video for the new Sienna minivan manufactured in Princeton, here it is and it is very, very funny. In two weeks, the video has two million views: Toyota Sienna.
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May, 2010
Community Development News May 2010
The City of Mt. Vernon was awarded a $300,000 grant by the Indiana Office of Community & Rural Affairs for the demolition of an aging silo on the riverfront. The removal of the silo will be in conjunction with Mt. Vernon's plans to complete a 1,000 ft.-long park area along the riverfront. According to Mayor John Tucker, the grant monies will be received in June and the silo could be removed as early as October.
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