The Northwest Indiana Forum (Forum), through an Indiana Economic Development Corporation (IEDC) Regional Economic Development Partnership Program (REDEPP) grant, has assembled a package of hard-hitting business cost information to convince business decision-makers of the advantages of Northwest Indiana. This is the first time the Forum has received an IEDC grant.
"Through the grant partnership on this project and coordination on the Illinois outreach campaign, the Forum and IEDC can better market advantages of Northwest Indiana supported by more impactful and true to life costs for business operations. We are extremely pleased that the IEDC found merit in this regional, industry sector-specific analysis," said Mark Maassel, President and CEO of the Forum.
The Forum directed grant funding toward a cost modeling and competitive analysis to showcase NWI's advantages for business attraction. The project focused on three key industry areas: Advanced Manufacturing, Transportation, Distribution and Logistics, and Office Operations (including data centers, call centers, etc.).
"Northwest Indiana has a wealth of assets that make this region a hotspot for new investment, including a tremendous interstate infrastructure, a major port system, dark fiber connectivity and reliable utilities," said Dan Hasler, Secretary of Commerce and chief executive officer of the Indiana Economic Development Corporation. "We're confident that the cooperative efforts of the Forum will showcase these unique attributes and help transform this region to reach new heights economically."
Each industry cluster assessment provides specific cost comparisons between NWI and other competitive regions/cities in the Midwest which will be used in various marketing efforts in the coming months. While the Forum shares the great advantages and story of Northwest Indiana with decision-makers, this analytical data is compelling rationale to choose Northwest Indiana.
As companies seek to lower their operating costs, the customized sector-specific information becomes an invaluable tool. The full reports will be released in the coming weeks once the Forum's Economic Development Committee and Local Economic Development Professionals review the findings.