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No. 0919 designating/declaring the AEDA, approving an economic development plan and establishing an allocation area for purposes of TIF
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No. 0919 designating/declaring the AEDA, approving an economic development plan and establishing an allocation area for purposes of TIF
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10/18/2012 3:14:04 PM
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INTRODUCTION <br />The Airport Economic Development Area ( "Area ") provides the <br />City of South Bend with a unique opportunity to improve its <br />economic position in a Midwestern, regional and local context. By <br />opening up a large, new area for commercial and industrial <br />development, the City will generate new jobs, increase its tax <br />base, diversify business opportunities and compete in a larger <br />marketplace while at the same time generating millions of dollars <br />of new investment for North Central Indiana. <br />The Area, which is zoned primarily for industrial purposes, is <br />a prime site for new development due to its ready access to an <br />excellent transportation network that includes air (Michiana <br />Regional Airport), rail (the South Shore Railroad will likely <br />relocate there) and highway (several major local arterials, the <br />U.S. 31 bypass and the Indiana Toll Road Exit 72). All of these <br />combine to permit ready access to local, regional and Midwest <br />markets in all directions. Added to this strong transportation <br />network is the presence in the Area of the highly successful <br />Airport and Toll Road Industrial Parks, which provide a solid <br />employment and tax base for the region as well as an excellent <br />economic development model. With these existing industrial parks <br />nearly out of developable space, the Airport project is the next <br />logical step. When completed, this major, multi -use, economic <br />development project will offer an excellent environment for <br />business development that will spur the economy of South Bend as <br />well as that of North Central Indiana. <br />
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