STATEHOUSE – Legislation authored by State Representative Steve Braun (R-Zionsville) regarding regional economic development was signed into law today by Governor Pence.
House Enrolled Act (HEA) 1035 requires the Indiana Economic Development Corporation (IEDC) to conduct an assessment of Indiana's regional metropolitan areas and provide the assessment results before October 1, 2014.
“This legislation ensures that our state is taking the necessary steps to build a strong economic future,” said Rep. Braun. “By requiring an in-depth study of Indiana’s regional economies, we are strengthening those places which are expected to experience the highest population growth over the next 30 years. Each corner of our state is very diverse, and if we want to be successful, a one-size-fits-all economic development policy will not work.”
This assessment would analyze the economic potential of each of Indiana’s regional cities, provide a report on the needs of each regional city and also provide recommendations on initiatives and improvements that will lead to economic growth in each individual region.
Each of these requirements is within the IEDC’s routine administrative functions and should be able to be implemented without any added state expenditure.
HEA 1035 is effective upon passage.