§ 36-7.7-3-4 — Comprehensive strategic economic development plan; contents

Indiana § 36-7.7-3-4

• Jurisdiction: Indiana
• Title 36: LOCAL GOVERNMENT
• Art. 7.7: CENTRAL INDIANA REGIONAL
• Ch. 3: Development Authority and Board

Text

(a) A development authority established under
this chapter shall prepare a comprehensive strategic economic
development plan to serve as a roadmap to diversify and strengthen the
regional economy, establish regional goals and objectives, develop and
implement a regional action plan, identify ways to eliminate duplicative
government services within the region, and identify investment
priorities and funding sources.
(b) The comprehensive development plan must incorporate and
comply with the requirements and content for comprehensive economic
development strategies under 13 CFR 303.7 and be developed with
broad based and diverse community participation, and may contain the
following:
(1) An analysis of economic and community development
problems and opportunities including incorporation of any
relevant material or suggestions from other government sponsored
or supported plans.
(2) A background and history of the economic development
situation of the region, with a discussion of the economy,
including as appropriate, geography, population, labor force,
resources, and the environment.
(3) A discussion of community participation in the planning
efforts.
(4) Identification of particular strengths or assets that can be
leveraged for economic benefit and goals and objectives for
taking advantage of those strengths and assets to solve the
economic development problems of the region.
(5) A plan of action, including suggested projects, to achieve the
goals and objectives.
(6) Performance measures to be used to evaluate whether and to
what extent goals and objectives have been or are being met.
(7) Strategies for:
(A) ensuring access to affordable health care;
(B) ensuring access to affordable child care;
(C) establishing workforce pipelines for those exiting recovery
and reentry programs;
(D) recreation and entertainment;
(E) coordinating with local businesses to ensure the supply of
high technology or high demand job apprenticeships;
(F) leveraging technology to improve delivery of government
services;
(G) eliminating duplicative government services within the
region;
(H) increasing the supply of affordable homes and other
housing;
(I) building connectivity between the business community and
local schools;
(J) incentivizing or attracting out-of-state residents and
businesses to relocate to the region; and
(K) branding and marketing the region as a means to recruit and
retain businesses and people.
(8) Data analyses of other workforce and quality of place
measures including, without limitation, detailed information for
the most recent three (3) year period for which data is available
for the following:
(A) Workforce availability compared to job postings.
(B) Commercial and industrial electricity prices.
(C) Local road and infrastructure spending.
(D) Access to fixed broadband and mobile connectivity meeting
Federal Communications Commission standards for businesses
and residents.
(E) Total employment in firms that are zero (0) to five (5) years
old.
(F) Net job creation in firms that are zero (0) to five (5) years
old.
(G) Net job creation in firms that are more than five (5) years
old.
(H) Venture capital invested.
(I) Summary of the region's health related metrics including the
following:
(i) Adult smoking rate.
(ii) Adult obesity rate.
(iii) Drug related deaths.
(9) The proposed projects and programs to be undertaken or
financed by the development authority.
(10) The following information for each project and program
included under subdivision (9):
(A) Timeline and budget.
(B) The return on investment.
(C) The projected or expected need for an ongoing subsidy.
(D) Any projected or expected federal matching funds.

Legislative History

As added by P.L.83-2020, SEC.2.