The Northwest Indiana Economic Development District (NWI EDD) covering Lake, Porter and LaPorte Counties, made significant progress in the development of standards as part of the application to be submitted to the Economic Development Administration (EDA).
The NWI EDD Board approved draft goals and objectives to guide the organization and a draft scoring system to guide project evaluation. The scoring parameters will rate submitted projects in relation to the Comprehensive Economic Development Strategy (CEDS), the roadmap to a brighter future in Northwest Indiana.
The draft CEDS received approval and will now be prepared for the public comment period scheduled to begin March 1, 2010. It is anticipated that the public comment period will be extended from the required 30 days to 45 days allowing ample opportunity for public review and input.
The deliberation and forethought incorporated in the CEDS will help create jobs, foster a more stable and diversified economy, and improve living conditions. It provides a mechanism to coordinate the efforts of individuals, organizations, local governments, and private industry concerned with economic development.
The NWI EDD has been formed as an independent not-for-profit corporation for the purposes of completing a CEDS as a means to apply for EDD status by the EDA, and to seek grant assistance and financial support for economic development projects in its territory. Per the EDA requirements, the public private partnership is comprised of 51% public officials and 49% private sector/business representation.
A CEDS is required to qualify for EDA assistance under its public works, economic adjustment, and most planning programs, and is a prerequisite for designation by EDA as an EDD. Public Law 105-393, the Economic Development Administration Reform Act of 1998 (42 U.S.C. § 3121, et seq.), a comprehensive amendment of the Public Works and Economic Development Act of 1965, as amended (PWEDA), requires a strategy to qualify for assistance under most EDA programs.
Until independent EDD status is approved, the Northwest Indiana Forum and the Northwestern Indiana Regional Planning Commission are facilitating the development of the organization through a grant from the Indiana Economic Development Corporation.
For more information or to submit projects, contact Donald Koliboski at 219/763-6303 x188 or nwiedd@nwiforum.org.