The Economic Development Perspective 
  Indiana Composites Calls Bourbon Home

Thanks to the dedication of Town officials and agencies at state and local levels, Bourbon will soon have the advantages of a new manufacturer, job creation, and local economic growth. After sitting vacant for over 5 years, the 75,000 sq. ft. industrial facility on Center Street in Bourbon known as the Reynold's Building will soon have new occupants: Indiana Composites, LLC, which manufactures open and closed molded fiberglass components for the marine, RV, and specialty vehicle markets.
 
Indiana Composites began hiring and manufacturing just a week after the announcement, with plans to eventually fully renovate the facility and create 198 jobs. At a press conference in Bourbon on April 12th, President/CEO, Mike Peters, stated that he chose to locate to Bourbon due to the availability of a vacant facility, the strong labor force in the community, and the support from Town and County officials in welcoming Indiana Composites.
  Regional Cities Funding Signed into Law

With Regional Cities funding officially secure, our region can break ground projects as early as June. That means that the North Central Region will soon be able to break ground on many of the talent-attracting projects outlined in our application. On March 23rd, HEA 1001 was signed into law, allocating full state match funding at $42 million each for all three of the Indiana regional development plans. On April 6th, the Governor ceremonially recognized the region's funding at an event in Goshen. A contract between the Indiana Economic Development Corporation and the Regional Development Authority is the final step before plans can be put into action, and it is almost ready for approval.
  Meet & Greet with Purdue Manufacturing Extension

Do you know about the Purdue Manufacturing Extension Partnership (MEP) and what they can do for your company? If not, be sure to attend the Purdue MEP's informational event for Marshall County businesses at Bremen Town Hall on May 12th at 10am. The Purdue MEP aims to assist companies in being more competitive and increasing profitability and has worked with business across Indiana such as Zentis, Southwire, RCB Bearing, and Bremen Castings. We hope this event will encourage other Marshall County businesses to take advantage of all that the Purdue MEP has to offer. To register for this event, contact Pam@marshallcountyedc.org .
  Progress Across Marshall County
 
Argos Referendum Seeks Educational Funding
Strong schools are vital to the success of our community and economy, and Argos Community Schools are among our best. Argos High School has been recognized as one of America's Best High Schools through the U.S. News and World Report twice in the last 10 years. Superintendent Michelle Riise, who also serves as the Argos Elementary School Principal after the position was cut to balance the budget, states that the school district has lost over $1,000,000 in funding since 2008. To prevent teacher and program cuts and potential consolidation, a tax increase will be on the ballot on May 3rd. Under the referendum, a $100,000 property would be taxed roughly $199 per year. Funds generated from this tax will go towards keeping class sizes low, retaining talented teachers, increasing the agriculture curriculum, and supporting valuable programs such as Project Lead the Way. See www.yes4argosschools.com for more information. Your vote counts and it's an investment in our youth.
 
Bourbon Supports Indiana Composites Tax Abatement
Bourbon is proving itself as a business friendly town by developing the relationship between the community and new businesses. The Bourbon Town Council recently designated Indiana Composites' building as an economic revitalization area, the first step in approving a personal and real property tax abatement for the company. With the aid of this tax abatement, Indiana Composites plans to invest approximately $3 million in the purchase and setup of new machinery, and another $790,000 in renovating the facility.
 
Bremen Main Street Update
The Town of Bremen is in talks with OCRA to develop a Main Street Program in the town. Main Street is a national movement aimed at creating preservation-based commercial district revitalization. The idea behind the program is that a community is only as strong as its core, and by investing in downtowns, we invest in the community as a whole. Bremen's program, which is being headed by Bremen Community Cares and the Bremen Historic Center, recently had their final Steering Committee meeting. Bremen should receive Main Street certification this summer.
 
Culver Named as Stellar Communities Finalist
Culver has made great strides in developing transformative plans to stimulate local economic growth. It comes as no surprise then that the Town was named one of 3 finalists in their division for the Stellar Communities Program. Stellar offers winning communities both funding and the cooperation of various state agencies in developing and implementing a long-term comprehensive plan. As a finalist, Culver will receive a grant to build upon the current plan outlined in their application. The winning community will be selected later this summer. Congratulations to the Town of Culver for receiving this recognition, due in no small part to the hard work of the Culver Steering Committee and MACOG.
 
LaPaz Ramps Up Road Improvement Project
The Town of LaPaz has allocated $1.5 million to invest in road-widening and black top work to improve the Town's roads. This project is part of LaPaz's downtown streetscape improvement plan which is being implemented with assistance from the Michiana Area Council of Government (MACOG). The Town has managed to streamline the process so that construction can begin next spring, almost one year ahead of the original schedule. In light of the recent development of the new US Hwy 31, projects like this demonstrate that LaPaz is moving forward and planning effective solutions for the Town.
 
Plymouth Moves forward with Tennis Courts Project
The Centennial Tennis Courts bidding process is underway. Bids were opened in March from two companies, and a vote from the City Council on April 20th was the final step in the process, allowing the parks department to move forward with a contractor bid. This quality-of-life-enhancing project will renovate and expand upon the existing courts, adding 4 new courts for youth and senior leagues, regional competitions, and general community recreation. The expansion should improve the community's reputation, serving as an amenity for residents, as well as a draw for athletes and families throughout the region. The new courts will be more durable and should last longer with less maintenance. Construction is expected to begin in June.
 
The State of Marshall County's Economy                               
 
The Marshall County EDC tracks several local economic indicators revealing data on the health and vitality of the economy, which is used by many organizations, including site selectors and businesses considering expansion:
 
Marshall County Building Construction Permits - Total Valuation
  • 2016 (1st quarter)             $11,688,113
  • 2015                                       $30,210,094
  • 2014                                       $37,331,382
  • 2013                                       $37,087,246
Other Economic Indicators
  • Cost of Living - Marshall County (June 2014)        82.0%
  • Unemployment Rate (January 2016)                       4.5%
Economic indicators will be updated on a quarterly basis and published on the MCEDC website.
 
Invest in Marshall County                             
 
The Marshall County EDC would like to say "thank you" for your commitment in supporting the "Invest in Marshall County" campaign. The campaign was launched last April to increase private sector support for economic development, and is on track to reach 2016 funding goals.
 
New investors pledging funds to the campaign, or partnering with the MCEDC, include:
  • Town of LaPaz
  • Marshall County REMC
  • Applegate & Company
  • Culver Chamber of Commerce
  • Country Auto Center
  • Centier Bank
  • Lake City Bank
  • NIPSCO
  • Graphix Unlimited
Thank you, together we will strengthen and grow Marshall County's economy.
 
 

2864 Miller Drive, Plymouth, IN 46563

(574) 935-8499 

mail@marshallcountyedc.org

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