The Daviess County Redevelopment Commission and County Commissioners have agreed to a contract for economic development services with the Daviess County Economic Development Corporation and the Economic Development Foundation. The six year deal calls for the county to make $100,000 per year available to the EDC and $182,500 per year to the Foundation. The money would come from the county’s draw on the Economic Development Income Tax.
“This money will be used only for the services we provide in trying to bring new business and jobs to the county,” said Ron Arnold with the EDC. “It is contract specific and we will only draw on it if we need it.”
The new contract picks up where an expiring five year deal with the county ends in May. “The majority of the money we spend is to help develop infrastructure,” explained Arnold. “Fortunately the money has been there for projects when we needed it. We’ve dipped into it to help with infrastructure for the McAllister expansion, the Alliance Barrier project and a project at Odon.”
“Historically, this has been a good deal for the county,” said RDC member and County Council President Jo Arthur. “This has worked well for the county to have them help provide the economic development needs.”
For the EDC the money is seen as a key in reaching its goal. “We want to increase the tax base, job opportunities or lay out a road map to get those things done,” said Arnold. “This money helps us do that. There was $38 million in new construction in Daviess County last year. We didn’t have a hand in all of that, but we helped put some of the utilities and roads in place to help those things happen.”
The money won’t all be used directly for construction. “We can use that pool of money for matches on grants or use it to leverage loans for projects,” said Arnold.