|Program||# of Grants||EDA Funds|
|Economic Adjustment Assistance||1||$1,000,000|
In FY 2012, EDA grantees in Indiana received seven grants totaling $6.9 million. Following significant losses in jobs and the manufacturing base, EDA’s investments support the growth and expansion of industrial parks across the state, as well as the development of a strategy for the re-use of four closed auto plants. By supporting bottom- up, regionally-owned economic development initiatives, EDA’s investments will create jobs and position Indiana communities to maximize their economic assets and potential. These investments are expected to create or retain 1,580 jobs according to grantee estimates.
Investment Spotlight: EDA Investment Sparks Development in Energy Storage Innovation
Much of southern Indiana has experienced considerable manufacturing loss over the past decade. Counties in the region have been working hard to formalize plans for restructuring and moving forward beyond these employment losses, but coordination and implementation have proven difficult.
In September 2012, EDA announced Southern Indiana Development Commission (SIDC) and the Battery Innovation Center, Inc. (BIC) as winners of its FY 2012 i6 Challenge. This winning project focuses on the development of entrepreneurial opportunities resulting from the rapid development, testing, and commercialization of safe, reliable, and lightweight energy storage systems for commercial and defense customers. Based on the innovation in battery research conducted at the Crane Naval Surface Warfare Center in conjunction with engineering and business expertise at Purdue University, Pennsylvania State University, Indiana University-Purdue University Indianapolis, University of Notre Dame, and the Ivy Tech Community College, this $1 million EDA investment supports the development of a proof of concept center which is anticipated to support the development of a number of new technology start-ups and an increase in manufacturing in the region.
To create new business opportunities, local leaders are seeking to capitalize on Crane’s role as a key regional employment driver. BIC is providing strong benefits not only to the Department of Defense, but also important commercial opportunities. The Center also present opportunities to entice new high-tech, high-wage DoD contract employers to locate within the region, strengthening the energy storage cluster and creating new job growth opportunities.