Cities within AEP service territory to receive millions of dollars for renovation and development
Recently two AEP-served regions, Northeast Indiana and North central Indiana, were selected by the Indiana Regional Cities Initiative (RCI) as awardees in a competitive grant process. Each region is to receive funding for major renovation and development, all of which is to accelerate “placemaking” efforts in these regions.
Fort Wayne in Northeast Indiana and South Bend & Elkhart in North central Indiana, cities located in AEP’s Indiana Michigan Power service territory, were among the cities selected – making them even more favorable locations for business.
The Indiana Economic Development Corporation leads the RCI initiative. With a focus on job and talent attraction and retention, the initiative is designed to help improve regions across Indiana by supporting efforts that emphasize marketing counties, cities and towns.
Northeast Indiana’s “Road to One Million” proposal includes a Food Innovation Center in Bluffton, upgrades to the city’s former Clyde Theater and development along the banks of the St. Mary’s River in Fort Wayne. These projects are expected to cost more than $842 million.
North central Indiana’s $732 million proposal includes further redevelopment of the former Studebaker Plant in South Bend, improvements to Elkhart’s Wellfield Botanic Gardens and projects located at the University of Notre Dame.
The AEP-served regions were two of three regions chosen by the RCI and stamped for approval by Indianapolis Governor Mike Pence and the Indiana Development Corporation Board of Directors. The third region selected was Southwest Indiana.
This program is expected to last two years and will be funded through a state tax amnesty program.
Congratulations to both Indiana Michigan Power regions!