PowerPoint Presentation - Indiana Economic Development Association by yaofenji

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									       NEW AND EXPANDED
  ECONOMIC DEVELOPMENT TOOLS
RESULTING FROM FEDERAL STIMULUS
   AND RECOVERY LEGISLATION




    Indiana Economic Development
          Corporation Update
            August 26, 2009
    Indiana ARRA Activity By County
• Indiana ARRA Activity Map
  http://in.gov/gov/countyarra.htm
               Online Project Survey
• The state, in conjunction with Ball State University, created
  an online project survey to gather information about
  potential community projects.
• A list of more than 9,000 project ideas sorted alphabetically
  by county is available at:
  http://www.in.gov/gov/files/Press/040709.pdf.
• The survey was designed to serve only as a tool to gather
  information and should not be considered an application for
  funding. Due to federal program requirements, most projects
  will not be eligible for funding.
 Economic Development Administration (EDA)

• EDA has standard program, disaster & stimulus
  funds available for eligible projects
• The state submitted a priority project list to EDA
   – Local economic impacts
   – “Shovel Ready” projects
• Regional planning commissions apply for grants on
  behalf of local communities
• For more information about EDA programs, contact
  David Terrell at (317) 232-8856 or at
  dterrell@ocra.IN.gov.
                          INDOT
• Highway funding appropriation is based on a federally-
  mandated formula requiring 60% to be filtered through the
  state to Municipal Planning Organizations (MPOs) and 40%
  through the state to Non-Entitlement Communities (county
  highway departments without MPO jurisdiction).
• MPOs have more autonomy on how funds can be spent
  than Non-Entitlement Communities, who usually partner
  more closely with the state to determine project viability.
• Eligible roads are mainly determined by federal government
  restrictions based on a hierarchy of functional road systems
  (principal arterials, minor arterials, collector roads, local
  roads).
• For more information about transportation funding
  programs, contact David Holtz at (317) 233-1524 or at
  dholtz@indot.IN.gov.
                  INDOT Links

• Indiana MPO list:
  http://www.indianampo.com/MPO/mpos.htm
• Transportation Infrastructure Distribution of Funds:
  http://www.in.gov/gov/2991.htm
                     Wastewater
• Projects are managed by Indiana Finance Authority
  through the state revolving loan fund
• Low interest loans to municipalities and publicly-owned
  facilities
• A list of State Revolving Fund Wastewater Stimulus
  Projects is available at : http://www.in.gov/ifa/arra.htm
• Communities may submit applications for future funding
  opportunities
• For more information about the SRF Loan Program
  process, contact Shelley Love at (317) 232-4396 or at
  slove@ifa.in.gov.
                   Drinking Water
• Projects are managed by Indiana Finance Authority
  through the state revolving loan fund
• Low interest loans to municipalities and publicly-owned
  facilities
• A list of State Revolving Fund Drinking Water Stimulus
  Projects is available at : http://www.in.gov/ifa/arra.htm
• Communities may submit applications for future funding
  opportunities
• For more information about the SRF Loan Program
  process, contact Sarah Hudson at (317) 232-8663 or at
  sahudson@ifa.in.gov.
                      Broadband
• Targeted to local governments and higher education
  institutions
• Programs include
   – Broadband infrastructure program ($1.2 B nationwide)
   – Public computing center ($50 M nationwide)
   – Broadband adoption program ($150 M nationwide)
• Applications were due August 14, 2009 for 1st of 3
  application rounds
• State applied for $3.5 M federal grant to create the state
  broadband map
• If you have any questions on OCRA’s broadband Internet
  initiatives, contact Geoff Schomacker at (317) 232-8909 or
  gschomacker@ocra.in.gov.
    Weatherization Assistance Program
                  (WAP)
• Program is administered by Indiana Housing and
  Community Development Authority (IHCDA)
• Indiana Department of Administration (IDOA) issued a
  Request for Proposal (RFP) to bulk purchase hot water
  heaters, furnaces, cellulosic & fiberglass insulation
• Program is currently pending approval by US
  Department of Energy
• Submit program questions online at:
  http://www.in.gov/ihcda/2523.htm.
                 Recovery Zones
• Each county and large municipality may designate
  a recovery zone
• Characteristics include:
  – Significant poverty, unemployment, home foreclosure
    rates or general distress
  – Economically distressed by reason of a military
    installation closure or realignment
Recovery Zones Economic Development (ED) Bonds
             (Government Projects)

• Indiana is receiving $313 M
• Each county and large municipality will receive its allotment
  of ED bonds
• Bonds are issued at taxable interest rates.
• The government provides a rebate of 45% of interest paid
  on bonds
• Uses include capital expenditures, such as public
  infrastructure, construction of public facilities and
  expenditures for job training and education
• Bonds must be issued by January 1, 2011
          Recovery Zone Facility Bonds
    (for Privately Used or Owned facilities)
• Indiana is receiving $469,621,000 (cap) for tax exempt
  bonds on privately used or owned projects located in
  designated recovery zone areas
• Uses include financing any depreciable business property
  constructed, reconstructed, renovated or acquired by
  purchase in the recovery zone after the date of designation
• Bonds must be issued prior to January 1, 2011
• For more information about Recovery Zone bonds, contact
  Cindy Pierson at (317) 233-4335 or at cpierson@ifa.IN.gov.
                         Energy
• State received stimulus funds through the Office of Energy,
  which include:
   – Energy Efficiency and Conservation Block Grant
     (EECBG) (http://www.in.gov/ihcda/2523.htm)
   – State Energy Program (http://www.in.gov/oed/2583.htm)
• Examples of eligible projects include wind turbine
  manufacturers, lithium-ion battery producers, hybrid
  automotive OEMs, smart grid, etc
• For more information about energy programs, contact
  Brandon Seitz at (317) 234-3158 or at bseitz@oed.in.gov
            Competitive Grants
Indiana’s "Funding Opportunities" page is a one-
stop resource for small businesses, local
governments and other entities seeking to apply for
competitive grants administered by the federal
government: http://www.in.gov/gov/3068.htm

Federal grant opportunities are available at:
http://www.grants.gov/aboutgrants/grant_categories
.jsp
                        Questions?
Pam Fisher
Director, Regulatory Affairs
Indiana Economic Development Corporation
317-232-8893
pfisher@iedc.in.gov

David Meehan
Policy Analyst
Indiana Economic Development Corporation
317-233-5121
dmeehan@iedc.in.gov

								
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