E-REP Statement of Activities, 1st Quarter 2024

E-REP Statement of Activities, 1st Quarter (JAN.-MAR.) 2024

July 17, 2024

Business Retention & Expansion:

• Number of businesses visited: 14.
• Types of businesses visited: Manufacturing (7), Distribution/Logistics (4), Technology (1), H (1), Health/Life Sciences (1), Other (1)
• Assistance provided: 
  • Workforce development. Many companies mentioned challenges with recruitment, retention and finding skilled employees. Businesses were connected to local workforce development programs and educational institutions. 
  • Expansion planning. Several companies indicated plans for expansion or interest in growing their operations (e.g. additional warehousing space, expansion of campus, additional manufacturing lines.) Businesses were provided guidance and resources on expansion planning and site selection.
  • Supply chain and logistics. Some companies expressed interest in being connected to logistics assistance. One was connected to Ports of Indiana to explore opportunities related to Foreign Trade Zones and logistics.
  • Infrastructure and utilities. Some companies have experienced power outages that hindered their ability to add new production lines. Connected with local utility provider to address these issues.
  • Business networking. Some companies expressed interest in finding local suppliers and partners. Connected with E-REP Membership Team, which hosts networking events such as CNN (Community Networking & News, which takes place every Friday.)

Business Attraction:

• Total number of businesses contacted: 17
• Information requests responses: 7
• Number of requests not submitted: 10
• Most projects not submitted due to lack of suitable buildings or sites meeting the specific requirements (e.g., size, ceiling height).
• The majority of the projects were in the manufacturing sector, with a focus on renewable energy, electric vehicles, and battery-related industries.
• Investment amounts for the projects range from $10 million to $1 billion.
• Job creation potential varied widely, from as few as 13 jobs to as many as 1,200 jobs per project.

Talent Attraction Efforts:

Belong Here Talent Attraction Program analytics (15 spots) – May 2024

• Belong Here campaign Meta impressions: 392,822
• Link clicks: 14,410
• Belong Here campaign LinkedIn impressions: 47,089
• Link clicks: 597
• 72 applicants
• 5 have secured a job and moved 🎉

o   SABIC x 2

o   Deaconess

o   Hubert Family Dental

o   Haubstadt Dental

• 5 movers securing housing

• Make My Move Remote Work analytics (25 spots)

  • 14 households secured
  • 298 in pipeline
  • 17 are in accepted status and looking for housing

• Talent Retention Efforts:

  • E is for everyone’s newsletter analytics
    

    Data Collection and Analysis:

    

    Grant Pursuit:

    • The bulk of Q1 was spent writing and finalizing the Southwest Indiana Regional Development Authority’s application for the Regional Economic Accelerator & Development Initiative (READI 2.0). While the award was not announced until Q2 (Apr. 11), it bears mentioning twice that E-REP’s efforts on this grant application resulted in the maximum allotment of $45,000,000 to the region. This follows the maximum $50,000,000 from READI 1.0 in 2021 and $42,000,000 from the Regional Cities Initiative in 2016. 

    Regional Collaboration:

    • Both Q1 Economic Partners and Elected Officials councils convened on January 25, 2024.
    • Matt Eckerle, principal, of Baker Tilly Municipal Advisors, was the guest speaker and he presented on the new Residential Infrastructure Fund, a $75MM low-interest loan through the Indiana Finance Authority’s State Revolving Fund (IFA SRF). 
    • Attendees were also updated on E-REP updates, including the 2023 Talent EVV Annual Report, the latest on the READI 2.0 regional application, the Inflation Reduction Act, the I-69 Corridor Plan by MKSK, and the pursuit of a new 2025-29 Comprehensive Economic Development Strategy
    • There were 17 Economic Partners present and 21 Elected Officials for those in attendance to network and build relationships with each other.

FOOTNOTE:  The City-County Observer posted this article without bias, opinion, or editing.