WHY SHOULD WE REVITALIZE DOWNTOWN? A vibrant downtown boosts the economy by: Creating jobs Incubating small businesses Protecting property values Increases the community’s options for goods and services A symbol of community pride and history
WHY IS DOWNTOWN IMPORTANT? Downtown is often the largest employer in a community. Independent businesses keep profits in town. Industries look at: Current businesses Quality of life Viability Appearance
WHY IS DOWNTOWN IMPORTANT? Representation of tax base. Shopping and service center (local). Highlights history. Represents investment (public and private). Tourist attractions (unique). Government center. SENSE OF COMMUNITY AND PRIDE!
REVITALIZING DOWNTOWN BENEFITSLocal Residents/ Service BusinessConsumers OwnersProperty Owners Financial InstitutionsCity Government CountyRetail Business GovernmentOwners Utility Companies
SURVEY Exhibits residential support of downtown revitalization effort both philosophically and fiscally. Excellent Good Fair Poor Downtow 1.63% 16.39% 67.21% 14.75% n Condition Yes No Revitalizat 96.72% 3.28% ion Need Yes No Acceptan 80.32% 19.68% ce of a minor tax increase to raise funds?
PROPOSAL I. Establish a Downtown Committee II. Downtown Logo Design III. Provide information for both visitors and possible volunteers (Website, Flyers, Brochures) IV. Downtown Improvements and Public Infrastructures i. Sidewalks and Roads ii. Parking iii. Attractions (Parks, Offices, Buildings) iv. Replenish works of art (Fountain, Statues) v. Lighting vi. Utilities
PROPOSAL V. Improve Character of Downtown i. Historical sites and Heritage (State Theatre, Wigwam) ii. Attractive Arts ( Paintings, Buildings Designs) VI. Explore Partnerships and Sponsors VII. Encourage Private Investors i. New Businesses ii. Funding (Enterprise, Grants, Partnerships) VIII. Promote Downtown Events
CHARACTERISTICS OF A SUCCESSFUL COMMUNITY No Single organizational Model exists Getting entire community interested in downtown effort and involved in organizing into bodies based on individual interests. Necessary Services: Business assistance Retail promotion Downtown advocacy Local Amenities Support of big business
CHARACTERISTICS OF A SUCCESSFUL DOWNTOWN Use of local college facilities and their higher education programs Combined with attraction/development of small businesses Create and Install Positive Community Image Civic leaders market the regional significance and historic values downtown. Gathering collective opinions Ability to Overcome Challenges Walkway Access for Pedestrians Recognition/Formation of town square Surrounding local amenities
CHARACTERISTICS OF A SUCCESSFUL DOWNTOWN Commitment to Mixed Use Development Close range downtown facilities Implicit understanding of development Broad Public/Private Investment Form partnerships with private stakeholders and access more public funds Prosperous Downtown Essence
CHARACTERISTICS OF SUCCESSFUL DOWNTOWNS Entertainment: A Driving Center Extends downtown life (bringing more money in) Helps other businesses by attracting people originally brought by entertainment facilities Ex.s: historic theatres, performing arts centers, diverse restaurant themes. Strengthen Downtown Neighborhoods More prominent, wealthy (middle class) individuals/families supporting effort by using downtown facilities and programs Daily cash flow through expenditures made from those residents who have money.
CHARACTERISTICS OF A SUCCESSFUL DOWNTOWN Generate Interest in Downtown Housing Market Affordability is a concern for those trying to purchase homes in these districts 8th Street Ex.
ANDERSON’S HISTORY The Very Beginning May21, 1827 Indiana General Assembly established a new town was known as Anderson town grew gradually July 4, 1851 The Bellefontaine railroad was built through Anderson, establishing connections with surrounding areas, including Indy Became populous enough to announce itself a city
ANDERSON’S HISTORY 1886 A Natural Gas Well discovery led to dramatic migration to the city and swift business immigration (Gas Belt) Ex.’s: American Steel and Wire, Pennsylvania Glass Plate, Fowler Nut and Bolt Company Transformed Anderson into an industrial based city! (Boom Town)
ANDERSON’S HISTORY 1886 – early 1900’s Emerging Downtown, increased construction of retail. Led to bustling main street resulting in development of electric car system. During early 1900s growth slowed …
ANDERSON’S HISTORY Automotive years, 1910 – 1970s Automotive experts moved in around 1910 creating another city boom Ex.’s: General Motors, Delco-Remy Drawing away workers to a mass boom on the southern side of the city Jobs increased but plants coming into the town did not Brought forth ―dead downtown‖ as merchants found fewer customers willing to invest in a congested city
ANDERSON’S HISTORY Automobile industry went through depression due to high gas prices 1970’s – Onward Downtown conditions worsened due to increased area development of malls and strip centers Revitalization requires interest in many parts of community Necessary involvement of multiple stakeholders Must build on and promote past character/history for an economic success!
How much will this ―new Anderson‖ cost? FINANCE
COST-THE BREAKDOWN (CONT.)(Note: The following costs, along with labor costs, are not included in the final estimated cost.) Bike Lanes…………………………..$5000- $50,000 Demolition……………………….$10,000- $500,000
COST-FINAL And the grand total is (approx.)………………………. $10,764,835 (excluding the afore mentioned exceptions)
COST-EXPLAINATION Lighting Fixtures: 28ft. each max Non-corrosive metal 100 watts each 100 lighting fixtures ( [100 x $580.35] + [100 x $668] = $124,835.00)
GOVERNMENT SUBSIDIES, GRANTS, FINANCIAL PROGRAMS, ETC.
FEDERAL REVOLVING LOAN FUNDS (RFLs) Aid in urban and rural renewal/revitalizationMost common aiding RFLs: Brownfield Sustainability Brownfield Clean-up Small businesses Incubating residential areas
REVOLVING LOAN FUNDS The Environmental Protection Agency (EPA) provides a numerous amount of these RFLs to aid in the development of brownfields and their clean- up from hazardous wastes and any other harmful environmental factors. Goshen Ex.
REVOLVING LOAN FUNDS Small businesses emerge once brownfields are capable of inhabitability. Projects gain independence Named duly for revolving aspect of loan payment where the central fund is replenished as individual projects pay back their loans.
BALL BROTHERS FOUNDATION GRANT Mission: dedicated to legacy of the Ball Brothers and pursuit of improving the quality of life of East Central IN in particular through leadership and philanthropy.
BALL BROTHERS FOUNDATION GRANT Funding: Innovative approaches for addressing community needs that result in long- term, systematic solutions which consider the use of community impact models and result I measurable outcomes. Seed-money to help launch new programs, projects or initiatives
BALL BROTHERS FOUNDATION GRANT Will not support: Requests from organizations that are not 501c3 organizations as determined by the IRS. Public services Program Focuses with Program Area: Public Affairs/ Society Benefit
BALL BROTHERS FOUNDATION GRANT Type of Grant BBF Rapid Grants – designed to provide funding to organizations that require immediate funding for formulating a project idea or seed-money to begin a new project. Mustbe submitted between February 1st and November 30th
BALL BROTHERS FOUNDATION GRANT Letter of Inquiry (LOI): includes some of the following Category Contact information Name of project and projected status Total Amount Requested IRS Status Letter of Inquiry Questions 2000 characters or less Describe organization and mission Brief description of needs addressed and how they will be met. Population description
BALL BROTHERS FOUNDATION GRANT Past winners: 2010 City of Muncie, $60,000 2010 – Community Enhancement Projects, Inc, $45,000 Muncie Civic Theatre Association- $5,000
DO SOMETHING SEED GRANTS Purpose: To help jump start a communal program. Details: Worth $500 Given away one a week No deadline
DO SOMETHING SEED GRANTS Requirements: Budget detailing how the $500 will be used A recommendation from a non-family member Eligibility Rules: Applicantmust be 25 or older Must be a U.S. or Canadian citizen Can apply for as many grants on the Do Something website, but can only win once every 12 months
DO SOMETHING SEED GRANTS Judging Criteria: Strong Grant Projects Driven by Youth Long term action plans in mind Focus on community, among others. Steps to Apply: Go to http://www.dosomething.org/grants/seed- grants Create a project posting Fill out online application
MISCELLANEOUS SEED GRANTS Average amount given: up to $2 million No Madison County recipients
PLANNING SEED GRANTS Avg. Amount given: up to $50,000 Madison county recipients: Alexandria, 2008, 2010 - $49,000, $50,000 Comprehensive Plan, Downtown Revitalization Elwood, 2009 - $10,173 Comprehensive Plan Lapel, 2005 - $38,000 Water/Storm water Plan
STATE GRANTS Community Focus Fund Avg.Amount given: $500,000 Madison county recipients: Alexandria, 2011-- $180,000 Demolition Disaster Recovery 1 Avg.Amount given: Varies ($1,000-$150,000) No Mad. County recipients
STATE GRANTS Disaster Recovery 2 Avg. Amount given: Varies ($200,000-$2 million) Alexandria, 2010 - $1 million Drinking Water Project Downtown Enhancement Grant (Main Street) Avg. Amount given: Varies ($5,000-$20,000)
ECONOMIC DEVELOPMENT FUND Encourage a focus on long term development in eligible populations. Criteria: Area has a substantial low and moderate income population (51% or greater) or is designated as a slum or blighted area. Project addresses long term planning and development efforts The funds granted will have a significant impact The project is ready to proceed and will be completed within 18 months after being awarded
ECONOMIC DEVELOPMENT FUND Some eligible projects are as listed: Infrastructurein support of housing Community centers Downtown revitalization Historic preservation Funding in addition to meeting criteria must have a primary focus on employment creation and/or retention.
PLANNING GRANTS Funded with Fed. Community Development Block Grant dollars from the U.S. Dept. of Housing and Urban Development. Goal: encourage communities to plan for long term community development. Community leaders can apply for projects relating to such issues as infrastructure and down town revitalization.
PLANNING GRANTS Must Demonstrate: Meet a goal of the Federal Act Planning initiative addresses long term priorities Funds will have significant impact overall Strong community commitment Project is ready to proceed upon the grant being awarded and will be completed within 12 months.
ASSESSMENT GRANTS Assessment grants provide funding for a grant recipient to: Inventory Sites: Compile a listing Characterize Sites: Identify past uses Assess Sites: Determine existing contamination Conduct Cleanup and Redevelopment Planning: Scope and plan process Conduct Community Involvement: Inform and engage community
ASSESSMENT GRANTSFor a Site-Specific Grant: A site-specific assessment grant must be applied for if the assessment is limited to one, and only one, site. A site- specific assessment grant application must be made if a waiver of the funding limitation is requested. Applicants will not be allowed to substitute another site for a site-specific assessment grant where
ASSESSMENT GRANTS Applicants submit a proposal for each grant type that they are applying for (i.e., assessment, revolving loan fund, and/or cleanup). Each proposal must address the selection criteria outlined in the guidelines.- Proposals must include: a Cover letter describing project a Applicant information a Applicable mandatory attachments (e.g., state letter) a Responses to evaluation criteria All applicants must refer to the Proposal Guidelines published by EPA.
ASSESSMENT GRANTS Eligible entities include: state, local, and tribal governments Total grant fund requests should not exceed a total of $400,000 unless such a waiver is requested. Up to $1 Million for assessment coalitions. A coalition is made up of 3 or more eligible applicants that submits one grant proposal under the name of one of the coalition members who will be the grant recipient. The performance period for an assessment grant is three years.
ASSESSMENT GRANTS Electronic copies of the Proposal Guidelines can be obtained from the EPA brownfields Web site at: http://www.epa.gov/brownfields/applicat.h tm
ECONOMIC DEVELOPMENT FOR A GROWINGECONOMY (EDGE Tax Credit) Provides incentive to businesses to support job creation, capital investment, and to improve the standard of living for Indiana residents.
ECONOMIC DEVELOPMENT FOR A GROWINGECONOMY A refundable corporate income tax credit is calculated as a percentage of the expected increased tax withholdings generated from new jobs creation. Credit certification is phased annually for up to 10 years based upon the employment ramp-up outlined by the business. One of the requirements that will help in keeping prosperous growth in our downtown: A company may not receive credit for any jobs a company relocates from one site in IN to another site in IN.
HOOSIER BUSINESS INVESTMENT TAX CREDIT (HBI) Provides incentive to business to support jobs creation, capital investment and to improve the standard of living. A non refundable tax credit is calculated as a percentage of the eligible capital investment to support the project.
INDUSTRIAL RECOVERY TAX CREDIT Provides an incentive for companies to invest in facilities requiring significant rehabilitation or remodeling expense. After a building has been designated as an industrial recovery site, companies may be eligible for a tax credit calculated as a percentage of qualified rehabilitation expense. The tax credit may be carried over to the immediately following taxable years if the credit exceeds the taxpayer’s state tax liability.
PATENT INCOME EXEMPTION Tax payers are exempt from certain income derived from qualified utility and plant patents. Qualified tax payers are eligible for an exemption of 50% of patent income for each of the first five years. The exemption decreases over the next five years to 10% in the tenth year.
PATENT INCOME EXEMPTION The total amount of exemptions claimed by a taxpayer may not exceed $5 million per year The exemption is only available to companies with 500 or fewer employees
END OF GOVERNMENT SUBSIDIES, GRANTS, ETC. Now on to…
MUNCIE STUDIES What did Muncie do to grow its downtown economy? Partnering up with local colleges. (Ball State and Ivy Tech)
MUNCIE STUDIES State – Building Better Communities Ball Program Expertsand skilled faculty members offer solutions and help with a group’s community, economic, and business development. ―Whether it be a community organization looking to revitalize down town or an economic developer needing a strategic marketing plan … -- Building Better Communities can get you started.‖
MUNCIE STUDIES Most beneficial Services include: Strategicplanning and advice Project administration Customer service strategies Organizational development initiatives Marketing Strategies Web site evaluation and development Development of performance appraisal systems
MUNCIE STUDIES Ball States: Tool Box Guide to Developing Funds A searchable database providing a comprehensive listing of grants loans, tax programs, and incentives available in Indiana. Connecting entrepreneurs or groups to projects that best fit their needs.
MUNCIE STUDIES Ivy Tech Community College Strategic Plan Accelerating Greatness 2013
MUNCIE STUDIES Parts relevant to revitalization efforts: Strategy 2: Ensure that Indiana’s citizens, workforce, and businesses are globally competitive. 2a. Design and implement a process for engaging the employer community. 2c. Design and implement a process to ensure our programs advance Indiana’s global competitiveness.
MUNCIE STUDIES Strategy 4: Ensure and adequate and sustainable resource base 4b. Implement a comprehensive approach to developing and nurturing external partnerships. 4d/e. Communicate and leverage the linkage between Ivy Tech’s success and the state’s economic success and the success of Indiana’s businesses as they compete in the global market place.
MUNCIE STUDIES Utilize Energize ECI Partnership (The Regional Economic Development Partnership for East Central Indiana)Presents some of the benefits of starting up a business in East-Central Indiana: Central location to North America Established transportation networks Low cost of operation and living Available sites and buildings
MUNCIE STUDIES Contact Energize ECI for answers to specific questions and needs (data, demographics, incentives, etc.) concerning small business start up in the region. Contacts: email@example.com PH: 765-641-4001
MUNCIE STUDIES Innovation Center Mission: to support and accelerate the creation of successful technology based and emerging companies in order to improve the economy of East Central Indiana. The Company connects new entrepreneurs to academic and government institutions, professional service providers, and others who can supply the knowledge and resources necessary to transform their ideas into realities.
MUNCIE STUDIES Also provide a variety of priceless services and resources within the facilityEx.’s strategic guidance Funding recommendation Space and equipment
MUNCIE STUDIES Services offered: Networking – common gathering place Financial Packaging- where to acquire funds. Business Consulting and Coaching Patent, Trademark, and Copyright Assistance – provides assessment of needs with legal consultant and act as guide through the process
MUNCIE STUDIES Innovation Connector Contacts: 1208 W White River BLVD Muncie, IN PH: 765-285-4900
MUNCIE STUDIES East Central Small Business Development Center An online state organizational site offering a wealth of free and low cost information, management counseling and education services to support Indiana small business owners and entrepreneurs. Mission:To create new jobs within the state and encourage business growth.
MUNCIE STUDIES The site offers resources for… Startinga business Relocating a business Obtaining license and permits Information on job resources and labor law
MUNCIE STUDIES The East Central Indiana Small Business Development center is a direct lender of the Rural Revolving Loan Fund. Funds can be used to purchase of fixed assets or working capital.
MUNCIE STUDIES General Requirements: Applicants are required to provide a detailed business plan. Applicants must usually be a small business located in a small community of 20,000 or less.
MUNCIE STUDIES INDURE Easy to access database of expertise, intellectual property, and research projects at Indiana’s leading universities. Helps entrepreneurial businesses and investors identify and connect with resources available for furthering business development.
MUNCIE STUDIES New and Small Business Educator Center Indiana Department of Revenue’s online tool enabling a better understanding for state tax laws and resources available to sole proprietors, partnerships, corporations, and non- profits.
NOBLESVILLE STUDIES Job Training Partnership Act (JTPA) Federally funded program offering employment and training services to disadvantaged youth and adults, older workers, and dislocated workers. Purpose: to help people who want a better life obtain the skills necessary for employment. (Also, stimulates economy by putting more willing workers out there who have money and a job to buy things locally around them. The programs provide training for occupations that are considered to be ―in demand.‖
NOBLESVILLE STUDIES Purdue University Technical Assistance Program (TAP) Purpose – to advance Indiana’s economic prosperity, health and quality of life. TAP supports performance through programs that utilize faculty, students, and staff. Employers served include companies and governmental units throughout the state.
NOBLESVILLE STUDIES TAP Achievements: since 1986 programs have assisted over 10,000 organizations, contributed to cost savings of $75 million, increased capital investments by $137 million, and saved or added over 7500 jobs in IN. Contact Info: Purdue University MEP Center 6640 Intech Blvd. Building Ten, Suite 120 Indianapolis, IN 317-275-6810 firstname.lastname@example.org http://www.tap.purdue.edu/
NOBLESVILLE STUDIES Façade Grant Program Designed to stimulate downtown investment, maintain and initiate aesthetic improvements downtown. What it is. 50/50 Matching Reimbursement Grant Program boundaries Commercial activity as Primary purpose Up to date on taxes Applications due last Friday of each month Funded through TIF (tax increment fixing)
NOBLESVILLE STUDIES To Apply: 2 bids per project Specific plans Façade Grant Review Committee Board of Public Works Contractual Agreement Inspection and paid invoices
NOBLESVILLE STUDIES Tax Increment Financing (TIF) Permits cities or counties to use increased tax revenues stimulated by redevelopment or economic development to pay for the capital improvements needed to induce economic development.
NOBLESVILLE STUDIES Access to TIF’s: The use of TIF is initiated by the declaration of a tax allocation area by a county or city redevelopment commission. Bonds payable from TIF may be used to finance the cost of redevelopment and construction of improvements in the area to be redeveloped or benefit the area. Bond amounts are determined by the size of the project and the amount of the increment available.
NOBLESVILLE STUDIES Small Business Loan Guaranty Program City sides with all local existing banks to participate as a guarantor as part of the financing for qualified businesses.
NOBLESVILLE STUDIES How it really works. Institutions participating (banks) will provide SBA and conventional loans for small businesses. The city’s guarantor will act as a ―bridge‖ between conventional underwriting standards or add necessary support to facilitate the availability of capital to these businesses.
NOBLESVILLE STUDIES Tax-Phase Ins (Abatements) Used in order to attract private investment and job creation by exempting portions of the new or increased assessed value resulting fro a new business venture.
NOBLESVILLE STUDIES Partnering with the National Main Street Organization a unique economic development tool that serves as the foundation for local initiatives to revitalize their districts by leveraging local assets—from cultural or architectural heritage to local enterprises and community pride Basically, takes advantage of the city’s historic value in order to create a solid basis for revitalization efforts.
NOBLESVILLE STUDIES Main Street 4-Point Approach1. Organize – building partnerships with those who have stakes in the community, recruiting volunteers from all over the city district Getting those in head of organizing volunteer efforts to spread the word and coordinate specific volunteer efforts
NOBLESVILLE STUDIES 2. Design – keeping downtown looking nice by maintaining store fronts, planting flowers, using what is already there and repairing if necessary, through allocation of grants and volunteer coordinated efforts as well as other financial measures. Design activities also include instilling good maintenance practices in the commercial district, enhancing the districts physical appearance through the rehabilitation of historic buildings, encouraging appropriate new construction, and educating business and property owners about design quality, and a continuation of this process.
NOBLESVILLE STUDIES Economic Restructuring Committee strengthens your communitys existing economic assets while diversifying its economic base. Ex.’s – allocating more finances through state and regional programs as well as city stakeholders, residents, and fund raising through events. as well as, boosting the downtown web page and campaign to inform and help business owners more. Also, getting the community surrounding downtown more involved to spark business to want to come, organizing more programs, getting downtown businesses in on the effort.
NOBLESVILLE STUDIES Promotion Committee - create a positive image that will rekindle community pride and improve consumer and investor confidence in your commercial district. Promotions communicate your commercial districts unique characteristics, as well as , business establishments to shoppers, investors, potential business and property owners, and visitors. Ex’s. Newspaper involvement in creating a positive image is Key! getting in touch with PIP and other existing downtown businesses that relate to communication, and reaching out to other’s in the area who deal with advertising and PR!
NOBLESVILLE STUDIES Joining Main Street Contact the Main Street Coordinating Program which can be located easily online to find out about the application process for Indiana. Network and stay in touch with already successful programs, ex. Noblesville.
KOKOMO STUDIES Indiana Business Growth Network Program believes economies can be grown ―internally‖ by local companies The role of the community is to provide sophisticated information and services that improve this natural entrepreneurial process. Most relative services include: Assisting with web search engine optimization and Web marketing Tracking regulations
KOKOMO STUDIES Inventrek park – helps new technology-driven business succeed in developing their ideas. Provides a variety of services for entrepreneurs in the technological field. Assistance gaining financial capital Coaching and mentor assistance
KOKOMO STUDIES Property Tax Abetments Seeks to revitalize the Kokomo community by providing favorable financing for new industrial and service companies Available on new equipment or real property improvements for periods of up to 10 years. Provides 1/3 gap financing up to $300,000 at very attractive rates
KOKOMO STUDIES Developed and raised community awareness/ interest in a Riverside District Board walk along the river Shops and restaurants located close by to attract customers and help economy Clean river programs gets community involved Programs/festivities to be held along the river also do this.
KOKOMO STUDIES Customized Business Incentives Relocation grants for companies moving to Kokomo Infrastructure grants Other grants related to Economic Development Income Tax
LAFAYETTE STUDIES Neighborhood Stabilization Program (NSP) Allocated through the Indiana Housing and Community Development Authority made available from the Department of Housing and Urban Development. (HUD) . HUD – mission is to provide money to help revitalize and stabilize communities impacted by the foreclosure crisis. City received $7,774,200.00!!!
LAFAYETTE STUDIES Area of focus for redevelopment – Glen Acres neighborhood. The new development focuses attention on installment of Chatham square, a square brings communities centrally together!
LAFAYETTE STUDIES Money distributed to a variety of contributing factions making the square possible Administration($370,200.00) – provides funds to pay for expenses related to administering the grant. Redevelopment/New Construction ($5,720,000.00) – involves demolition of existing structure and new construction.
LAFAYETTE STUDIES Rehabilitationof foreclosed/abandoned homes ($1,000,000.00) - purchase and resell refurbished homes. Demolition ($210,000.00) - getting unsafe and unneeded homes out of the way for further development. Funding Mechanisms ($474,000.00) – provides assisting funds for new buyers located along the square.
ANDERSON ASSETS Programs needed to be taken advantage of! Score of Madison County – non-profit association dedicated to entrepreneur education and the formation of growth and success for small businesses
ANDERSON ASSETS Working and retired executives and business owners dedicate their time and expertise as business counselors to provide free counseling and low cost workshops. In the event they are challenged beyond their expertise they have the entire national organization to draw upon. Madison County Address: 2701 Enterprise Dr, Suite 202 Anderson, IN 46013 Contact: through Madison County Chamber of Commerce 765-642-0264
ANDERSON ASSETS Economic Revolving Loan Fund – The city in cooperation with local banks offers a low interest loan program for businesses located in Anderson. Offers loans up to $100, 000 at rates as low as 4 percentage points below the prime rate for 20 years. Borrowers must create one job for every $10,000 borrowed.
ANDERSON ASSETS Enterprise Zone Program Designed to stimulate reinvestment with a designated disadvantaged zone and create jobs for zone residents. The Indiana Zone Board oversees the enterprise zone programs in each locality.
ANDERSON ASSETS In order to stimulate reinvestment and create jobs within zones, businesses located within an enterprise zone are eligible for certain tax benefits. Tax Benefits Include: No property tax on business inventory Exemption from Indiana Gross Income Tax on the increase of receipts from the base year. State Income Tax Credit (up to 30% of purchase price) for individuals purchasing an ownership interest in an enterprise zone business State Income Tax Credit on lender interest income (up to 5%)
ANDERSON ASSETS Property Abatements Any property owner in a locally designated economic revitalization area who makes improvements to real property or installs new manufacturing equipment is eligible. Used manufacturing equipment may also qualify
QUICK REMINDER!!! Why should we bother? Indiana sub-state forecast conducted by IU: For2011-2014 all MSAs show employment growth except Anderson. Lets Prove them Wrong!!!
ANDERSON ASSETS Cheap and abundant factory buildings already in place Low tax rates Affordable housing Low living costs Board walk along the white river coupled with bridge leading to extensive Shadyside trails and parks Access to many major rail way systems for easy business shipping and exporting materials
ANDERSON ASSETS The overall cost of doing business in Indiana is cheaper than surrounding Midwestern states. Low unemployment insurance and workers compensation rates Indiana if fifth best for manufacturing and logistics in the nation due to human capital, global position, and tax climate.
ANDERSON ASSETS Attractions such as state theatre, paramount, historic museum, art museum, historic 8th street (glimpse into Victorian era) Located very close to I-69 and other prospering cities to deal in business with Located close to several business enhancing programs for support and help Resources such as the downtown fountain by Paramount, YMCA, concert stage, beautiful buildings, and small kids park located centrally downtown by other attractions.
PROBABLY MOST IMPORTANT PART So Please if you faded away from us… HEAR US OUT ON THIS PART!!!
SUBSTANTIAL CONSIDERATIONS Town squares from all case studies showcase the city courthouse as the main icon surrounded by shops. What surrounds our court house? Our town square? Demolish park Demolish some parking space Put in their places, restaurants and other services that would attract office employees, downtown business people
SUBSTANTIAL CONSIDERATIONS Attract businesses by promoting Assets and marketing these Assets to a broad spectrum. Need to redo and update, make more easily accessible and inviting, economic development website. Showcase and explain small business incentives for downtown and helpful places where one might find financial aid through the city, region, and state.
SUBSTANTIAL CONSIDERATIONS State Theatre Renovation Program Allocation of grants for use of renovating structure inside as well as outside of this historic city structure. Can be used once refurbished as a low cost movie theatre running past movies for a lower cost to public (Provides a downtown entertainment service)
SUBSTANTIAL CONSIDERATIONS Something to do downtown that will save money and help economy Promoting this historic feature in all its old glory, showcase its old pride and experience through media, marketing, as well as on its build board and through possible partnership with the Paramount (which also serves as an entertainment tool)
SUBSTANTIAL CONSIDERATIONS Get the community united!!! About the school system, we have a great system with more class opportunities then surrounding county schools! Market this! Partner with Herald Bulletin on this downtown effort is crucial! (we want to promote and unite this city effort by displaying to the entire city and county our plans and why were a great incubator for business)
SUBSTANTIAL CONSIDERATIONS Plan more down town events, get downtown centers and businesses to host their own or help in efforts (YMCA, APL, local businesses, Churches, even the city) The Wigwam It has computer labs, a televised screening room, one if not two weight rooms, class rooms, gyms, pool, kitchen areas, clinic rooms, a track, could convert fields by it to usable soccer fields ( which is right by the YMCA who would probably love it!)
SUBSTANTIAL CONSIDERATIONS Market it, school system, local groups, city could buy it and use it as a community Rec-center which is downtown.!!! Could block parts of the inside and use it as a central middle school or a new and very equipped high school for Liberty Christian!!! Demolish old schools that arent needed, Robinson elementary, they are depressing and waste space as well as are eye sores. More lenient historic 8th street controls on businesses, Ex.
SUBSTANTIAL CONSIDERATIONS creating a positive image is Key! getting in touch with PIP and other existing downtown businesses that relate to communication, and reaching out to other’s in the area who deal with advertising and PR! Broadcast Paramount events and down town events more, make a bigger deal out of it by uniting with the Herald and other downtown corporations!
SUBSTANTIAL CONSIDERATIONS Form a partnership with Anderson University’s ―top ranked‖ Falls Business School. Contact Info: Business Office, email@example.com , PH: 765 641-4001 Form a Partnership with Ivy Tech’s Accelerating Greatness 2013 and Ball State’s Building Better Communities Program
THANK YOU FOR YOUR TIME Our Presentation has concluded.