The Indiana Economic Development Corporation (IEDC) has approved Regional Cities Initiative funding to support housing and mixed-use developments at Oakland City University and the construction of a Regional Medical Center in Poseyville.
“As our state’s economy continues to advance, it is crucial that we address the greatest economic threat facing the state, population stagnation,” said Indiana Secretary of Commerce Jim Schellinger. “The expansion of Oakland City University provides a means to grow enrollment, strengthen alumni relationships and spur economic opportunity in surrounding communities while the construction of the Regional Medical center will give residents quicker access to medical treatment, a core element of quality of place.”
“Both the Oakland City University Boulevard Commons and the Regional Medical Center perfectly align with the goals of the Indiana’s Great Southwest plan for attracting and retaining talent while building a better quality of place,†said Beth McFadin Higgins, president of the Southwest Indiana Regional Development Authority.
OAKLAND CITY UNIVERSITY
Oakland City University will construct two structures - a student residence complex and an alumni lodge. The two-floor, 30,000-square-foot student resident hall, which will be located just west of the J. Michael Dunn Art Gallery on Williams Street, will allow the university to accommodate approximately 100 more students.
The second facility, a mixed-used space, will comprise commercial retail space and a 13,000-square-foot alumni lodge with overnight accommodations for guests, a conference center and hospitality suite. The new alumni lodge will be located at the intersection of Fifth Avenue and Williams Street on Oakland City University’s campus.
Total Project Investment: $14.9 million
State funding: $2.9 million
“Oakland City University is pleased to be a part of the Regional Cities Initiative,†said Dr. Robert Yeager, vice president for administration and finance at Oakland City University. “We believe the outcome of this project will open up opportunity for students and the overall economy of Oakland City and Gibson County, as well as aid in the overarching goals of Indiana’s Great Southwest.â€
REGIONAL MEDICAL CENTER
The Poseyville Medical Foundation will construct a medical facility to house two family practice physicians with room to expand. The Regional Medical Center will update local medical services, including laboratory services, for residents of Posey, Gibson and Vanderburgh counties.
The facility will be located at 40 West Fletchall Street in Poseyville. Located near I-64, the medical center will enhance the region’s quality of place by ensuring convenient access to medical treatment and will expand access to quality health care for rural residents in southwest Indiana.
Total Project Investment: $700,000
State funding: $135,247
“The Poseyville Medical Foundation Inc. saw a great need in our rural communities for quality medical care for area residents,†said Bruce Baker, vice president of the Poseyville Medical Foundation Inc. and Poseyville Town Council president. “With assistance from the Regional Cities funding, the Regional Medical Center will be on its way to fulfill this need swiftly as well as helping retain resident doctors.â€
Regional Cities Initiative in Southwest Indiana:
These projects were recommended for funding by the Southwest Indiana Regional Development Authority (RDA) and are part of the region’s Indiana’s Great Southwest plan, which outlines a goal of 11 regional development projects in four counties totaling $926 million in quality of place investments.
Southwest Indiana was one of three Indiana regions selected to receive state funding through the Regional Cities Initiative, which will allocate a total of $126 million toward 100 quality of place projects totaling more than $2 billion in combined state, local and private investment in order to retain and attract top talent to the Hoosier state.
