INDIANAPOLIS -- A bill to fully fund all three winners of the Regional Cities Initiative breezed through the Senate Appropriations Committee Thursday.
The Regional Cities Initiative is an economic development program to encourage cooperation across city and county lines. The money comes from the 2015 tax amnesty program, and all $84 million was originally meant to be split between two regions -- giving $42 million to each winner. But the Indiana Economic Development Corporation Board chose three winners, and Gov. Mike Pence wants the legislature to give all three winners a full $42 million dollar.
IEDC Vice President Eric Shields says the initiative is worth the investment.
“So, just in the last month we’ve heard of national developers looking at some of these regions already,” he said.
The tax amnesty program brought in much more than the $84 million originally set aside for Regional Cities. And bill author, Senate Appropriations Chair Luke Kenley says the Senate strongly supports the program. The committee unanimously approved the bill Thursday, sending it to the floor.