One Region has tapped Newmark, a global commercial real estate advisory and services firm, to craft an economic development strategy for Northwest Indiana.
One Region, a group of local business executives and leaders, retained Newmark’s Global Strategy advisory practice to do a study about future growth and development along the Greater South Shore Corridor south of Lake Michigan. The study will identify opportunities for investments, infrastructure projects, job creation and collaborative partnerships.
“Newmark is honored to collaborate with the engaged business leaders of One Region,” said Bob Hess, Newmark vice chairman and Global Strategy practice founding member. “By leveraging our expertise and experience with corporate and private sector clients from all over the globe and nation, we can bring a unique and applied perspective on delivering implementation plans that transform regions.”
Newmark, a New York City-based firm, generated $2.6 billion in revenue last year and employs 7,800 people at 170 offices around the world. It has been engaged by One Region to create an actionable plan based on roundtable discussions, feedback from site selectors and businesses and statistical analysis.
The study will provide data for other economic development plans, One Region said, including the Northwest Indiana Forum's "Ignite the Region" and the Northwestern Indiana Regional Planning Commission's comprehensive economic development strategy.
“Northwest Indiana is well-positioned to capitalize on shifts in global supply chains and the rise of advanced manufacturing and other emerging technologies,” said Matt Wells, president and CEO of One Region. “Our engagement with Newmark adds a strategic layer of expertise to help us emerge as a top destination for investment.”
The study is being funded by One Region, a nonprofit that consists of more than 50 chief executives and leaders from many of Northwest Indiana's largest companies and universities. It works to drive growth and foster regional collaboration across Northwest Indiana.
The hope is to complete the plan by spring.
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