SHOALS — The Martin County Council heard three proposals Monday to start developing the county and making it attractive for business.
Members of the county’s newly-formed Alliance for Economic Growth asked the council for $120,000 over three years to help fund the newly incorporated organization. President Jim Henry said the county would recoup the investment by drawing new business.
“I promise you we will bring jobs into the community,” Henry said. “We do have good backing and a lot of interest from the community.”
Henry informed the council that the county has close to $65,000 available to it now from the French Lick casino in Orange County but the state would not let the county have access to the funds unless they formed an economic development corporation.
Also, the Indiana Economic Development Corporation has also supplied the local corporation with training and consulting and access to future grant funding, if the county ponies up $40,000 a year in matching funds.
“I think we want to be competitive with surrounding counties,” Henry said.
The organization has already started promoting the county with the help of Daviess County. Daviess County Economic Development took Martin County information with it to the state’s Boat and Sport Show earlier this year and passed out brochures of both Daviess and Martin counties, Henry said.
The alliance also presented a cost comparison from economic development corporations from other counties. Martin’s estimates came in less than others.
“I think basically the state is telling us they will help us as long as we help ourselves,” Council member Floyd “Lonnie” Hawkins said. “We are always talking about making our dollar count. This is a way to make our dollar count and help ourselves.”
The council could not commit funding Monday because a formal request was not made and advertised before the meeting, but took a show of hands. Six of the seven said they would vote for the funding and will hear the formal proposal at the council’s April 27 meeting.
The second proposal was also tabled for the next council meeting — a proposed ordinance to create an economic development commission.
Greene County Attorney Marilyn Hartman, on behalf of the WestGate @ Crane Authority, said if the county creates an economic development commission, it can pledge tax increment funds, or TIF funds, to road development at the park.
Hartman said a private developer is ready to build access roads into the park but needs a pledge of funds from the counties to start.
“It makes you more competitive as a county when you can show what you all can do,” Hartman said.
Although a county has a redevelopment commission, Hartman said state law only allows an economic development commission to give funds to a private developer.
The council tabled the ordinance request. But one economic development venture started in the county got closer to reality.
Commissioner Dan Gregory said the county is looking to purchase a 20,000 square foot building on U.S. 50 near U.S. Gypsum for $200,000. A company, Stimulus Engineering, is looking to lease the building, creating 20 to 25 new jobs in the county.
“We think its a good thing for Martin County,” Gregory said. “We have talked about economic development tonight, and this is on the table right now.”
Discussed in an executive session earlier, the council was asked to encumber $25,000 to secure a loan. Gregory said local lenders were interested in the project and the funding would be needed in case the deal fell through.
Local News
Martin County Council hears proposals aimed at economic development
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