The tax increment finance districts in Daviess County are having an impact on future development. That was part of the message to the Daviess County Redevelopment Commission when it organized Tuesday at the Daviess County Courthouse.
"These TIF districts allow you to build your infrastructure to develop new business," said Ron Arnold, executive director for the Daviess County Economic Development Corp.
The districts allow counties to take the tax money that would go into the general fund and put it toward specific projects in specific areas. Money generated by the GPC TIF is now going toward the construction of a new building, rail siding and cross-dock facility on the east side of Washington.
"It's allowing us to put in close to $4 million in infrastructure, water and sewer and lift stations to serve a larger area," said Arnold. "It puts us in a place to have the money that is needed to develop that area."
The GPC TIF which currently has $764,930 is expected to help Grain Processing Corp. and other businesses in the area.
"GPC is in the process of getting the permits for an $80 million expansion," said Arnold. "Alliance-Barrier Films will have a platform. There will be another loading area that will be open to anyone in the community to use. This project might turn out to be one of our most successful ones because it has a much broader range of development."
Another place where the TIF district might be paying off soon is at the WestGate @ Crane Technology Park. Not only is Crane hiring, but a $44 million grant from the Lilly Endowment is expected to have a big impact on the tech park and in particular the WestGate Academy where new business incubator and a job training program is expected to be centered.
"If things turn out the way we think they will with this grant, it should put us in a win-win situation," said Arnold.
Westgate appears to be in a good position. Between the Lilly Endowment funding and the opening of I-69 to Bloomington, around $84,000 in TIF funds and a lot of land the area could be looking at some interesting changes.
"We have 350 acres available up there," said Arnold. "We could be looking at a little city up there in 15 to 20 years."
Arnold says TIF districts are really about thinking long-term and looking for ways to bring in jobs.
"If you bring in jobs, then the demand for labor should go up, and along with it wages. That is when everybody benefits."