(STATEHOUSE) May 7, 2007 - Last week, Governor Daniels signed House Enrolled Act 1424 co-sponsored by Representative Randy Borror (R- Ft. Wayne), which requires the Indiana Economic Development Corporation (IEDC) to review certified technology parks (CTP) and recertify them every four years. Previously, there was no safeguard to require CTPs to comply with the terms of their agreement.
"Certified technology parks attract technology-based businesses, which provide Hoosiers with high-paying quality jobs," said Rep. Borror. "Reviewing these parks will allow the IEDC to ensure they are still helping drive Indiana's technology-based economy."
The IEDC will develop the procedures and criteria for the review of CTPs. If the local redevelopment commission and city that established the redevelopment commission fail to comply with the terms of an agreement, it may result in the termination or rescission of the designation. Previously, noncompliance did not result in the termination or rescission of a designation and there was no time frame for the expiration or recertification of a CTP.
Technology park executives and the IEDC asked for the legislation in an effort to continue to enhance the reputation of CTPs. The CTP program went into effect in 2003 and since the establishment of the program, 18 technology parks have been certified throughout the state, including the Northeast Indiana Innovation Center in Ft. Wayne. The Northeast Indiana Innovation Center, led by President/CEO Karl La Pan, continues to lead our state among all CTPs.
The legislation will take effect July 1, 2007.
For more information, please contact State Representative Randy Borror at the Statehouse, 200 W. Washington St., Room 401, Indianapolis, IN 46204, 1-800-382-9841, email@example.com.
Representative Borror represents House District 84, which includes portions of Allen County, including the city of Fort Wayne.