FORT WAYNE, Ind. (WOWO): Northeast Indiana has been awarded $30 million to address housing issues and talent retention within the area.
As part of the new two-year state budget, the Indiana General Assembly approved $30 million in economic development funds for the Northeast Indiana Strategic Development Commission. The commission, which was established by the Legislature in 2021, plans to use the funding to implement its five-year plan released last November.
The plan involves a series of strategies to improve three key areas for the entire 11-county region: housing, talent attraction and retention, and talent development.
In an interview with Inside INdiana Business, Northeast Indiana Regional Partnership CEO Stephane Frijia said the commission is now preparing to determine which priorities to fund first.
“[We’ll] fund one activity, which ultimately is going to have secondary and tertiary benefits to some of the other goals,” Frijia said. “So defining where we start to tackle this plan is going to be key because that will determine early success.”
The commission said it wants to use the funding as a catalyst to grow population, grow wages, and grow the number of residents with a degree or credential.
Frijia said he believes housing will be the first challenge to address, particularly affordable workforce housing, which will feed into the talent attraction and retention goal. The five-year plan’s housing strategy includes expanding funding for infrastructure, financing mechanisms to assist first-time homebuyers, and engaging employers to help cultivate solutions to address housing issues.
In addition to talent attraction, which the region has been working toward with its Road to One Million plan, Frijia said talent retention is another key focus, especially with regard to younger talent.
Northeast Indiana was one of five regions to receive the full $50 million allocation from the first round of the READI program, which the state said last week has generated more than $8.5 billion in additional investment statewide.
You can connect to more details on the commission’s five-year plan by clicking here.
