COLUMBUS, Ind. — Mayor Jim Lienhoop is announcing plans to boost economic development in Columbus.
The city will make available $150,000 each year for three years to the Columbus Economic Development Board. The board will use the funds to support new business recruitment, business expansion, and talent attraction.
Examples of the planned use of funds include trade shows, sponsoring site selection events and continuing annual trips overseas. The city also plans to invest in existing local businesses by attracting more qualified professionals to the area.
“Working with the Economic Development Board on a public-private partnership such as this will result in a more diversified local economy and improved economic opportunity for our residents,” said Lienhoop. “If we were to do this on our own, we’d have to grow local government. I’d rather spend those dollars directly on proven efforts.
Lienhoop added that this is not an overnight plan, however, an effort to increase new business over the next three years and beyond.
“Our local economy is very dependent on the automotive industry, and when sales are up nationally, many of our local employers are very busy,” the mayor said.
“But what goes up, typically comes down, so we are reallocating existing funds to advance the EDB’s pursuit of companies from different sectors.”
Pharmaceutical manufacturing, administrative support services and engineering are among sectors targeted by the city.
The funding will come from the city’s share of the Economic Development Income Tax (EDIT) fund, which annually generates about $2.9 million for the region. None of the increased funding will cover overhead or salaries, according to the city.
Local News Digital’s Steven Harmeyer reports:
