Report given on assets

MUNCIE  — Working together, east central Indiana can market itself effectively for future economic growth.
“East central Indiana is well positioned for full development of advanced manufacturing with an emphasis on renewable energy and agri-business food processing clusters,” Leslie Wagner, director of project management and development of Ginovus, an Indianapolis-based site selection firm, told about 150 area economic development officials and volunteers Wednesday.
Wagner and Chad Sweeney, director of corporate development for Ginovus, reported on the results of a region asset mapping and target industry analysis at a luncheon at the Ball State University Alumni Center.
The study was funded by Indiana Michigan Power, Energize ECI, and the Eastern Indiana Regional Workforce Board.
The goal, said E. Roy Budd of Energize ECI, was “to look at the assets we have here and how to market those assets.”
“This is only the beginning,” said Jim Riggle of Indiana Michigan Power.
Ginovus representatives met with 220 area people over a period of several days.
In addition to identifying community assets and identifying industries that would be good targets for recruitment, the study also identified some comparable regions elsewhere in the United States that could be used for benchmarking future performance.
Among the key findings, said Wagner, “renewable energy with a high concentration on wind is a focus for most of the region.”
Community assets included the workforce, research and development institutions, physical infrastructure, available real estate, the current industrial base, connections among communities, and the quality of life in the region.
“Agribusiness is a core area of expertise,” said Wagner. “And the community hospital system is a key asset.”
But, she added, “High quality assets are not sufficient to drive growth.” That requires effective targeting of industries and marketing the region to them.
For instance, she said, “You need to communicate the message that the region has a very strong (high school) graduation rate.” The regional rate is 85 percent compared to the state average of 70 percent.
The study looked at a 10 county area with a population of more than 464,000 and a workforce of more than 220,000.[[In-content Ad]]