GOSHEN -- County officials are preparing to create a plan for economic growth in Elkhart County.
First, on Friday, the county redevelopment commission will consider what the county can offer to lure a George Weston Bakeries Inc. plant to Elkhart.
In February, Elkhart County officials are expected to tackle an economic development plan for the county.
The only economic incentive on the table at the Friday meeting is a Tax Incremental Financing district for the proposed $48 million project along C.R. 6. that would create 100 area jobs. County officials hope that together with the city of Elkhart, they would be able to offer $500,000 in incentives for the project.
The tax money generated in the TIF district pays for developing infrastructure, power and sewer lines in that district.
The question before the board: How the tax money would be used. By and large the TIF money is limited to infrastructure, said Tom Byers, county administrator. Because the infrastructure at the site is almost completed, some suggested to use the TIF money for helping the company purchase equipment.
The initial information shows that it can be done, Byers said.
"But it's expensive and cumbersome," he said.
For the most part, the county uses TIF districts to sweeten the deal with companies looking to relocate here.
Unlike St. Joseph and LaGrange counties, Elkhart County does not offer tax abatements.
"That's the reason we have one of the lowest tax rates in the area," Elkhart County Commissioner Mike Yoder said.
At the moment, the county uses the Horizon project as an informal guide for county's economic growth. Formulated a couple of years ago, the project is a comprehensive study of the county's economy, government structure, schools and social services that includes a road map to future prosperity.
A new economic development plan would focus on businesses already in the county, helping to develop a diverse and growing economy in the county, Yoder said.
"It will be next February when we first tackle it," he said. "We'll have to come up with some kind of strategic plan. And part of the questions will be 'do we want a plan?'"