East Central Indiana business, community leaders celebrate success while looking to the future
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowThe traditional manufacturing heritage in Muncie and east central Indiana runs deep.
While some of the iconic names that helped build the region are gone, other businesses are moving in and economic development is growing.
“There’s so much potential, and there’s so many things happening in the region that we don’t always do a great job of touting our successes,” East Central Indiana Regional Partnership CEO Trevor Friedeberg told Inside INdiana Business Host Gerry Dick. “Over the last three years, there’s been over 2,000 jobs committed and over $2.2 billion of investment.”
Wealth management software company Accutech turned down offers from around the country to move into a renovated building in downtown Muncie. CEO Adam Unger, a Muncie native and Ball State grad, senses momentum in his hometown.
“When you see investment starting to be made, especially in our downtown which I believe is kind of the heart of our city, I think that begets new investment. We’re seeing more people have courage and take steps towards revitalization that we haven’t seen in the past decade,” Unger said.
Across the White River, Ball State University is working to revitalize The Village next to campus. Construction on a $60 million Performing Arts Center is scheduled to start this fall. Ball State says the center will generate more than 160 performances annually.
“There are so many really cool college campuses in the country that attract people. It’s a great place to live and work and to have entertainment,” Mark Hardwick, CEO of First Merchants Bank, said. “The old Ball State was kind of isolated a little; I think other universities have been the same way. Now with this integration, it allows Ball State and Muncie to become a really cool place to live and work.”
Hardwick credits Ball State President Geoffrey Mearns for his commitment to being engaged with Muncie and Delaware County. Six years ago, Ball State University stirred controversy with its takeover of the troubled Muncie Community Schools system.
“Public schools are the cornerstone, the foundation for any strong community,” Mearns said. “That school district is on the rise. They have the resources to invest in teachers and staff. In just six years, we’ve increased teacher compensation by 40%, so teacher retention is up. We’re able to recruit and retain outstanding teachers.”
Other big projects in the region include Blue Buffalo finishing a $200 million expansion in Richmond. Just last week Illinois-based plastic manufacturer Transcendia Inc. said it would invest $17 million to upgrade its Richmond operations and add 30 jobs.
In Marion’s newly created riverfront district, a $10.8 million mixed use development project, River Rock Lofts, was recently approved.
Mayor Ronald Morell says housing is one of the biggest challenges in Marion and called River Rock Lofts a cornerstone for downtown.
“One message I’ve been trying to push to our citizens is it’s time for us to find out who we want to be now. Unfortunately, RCA is not coming back,” Morell said. “We have to redefine ourselves and create a new future. One thing that we’re pushing is to try to become the trade capital of the state. I’ve recently done a deal with Ivy Tech to be able to allow students who graduate from Marion High School to be able to go study trades at Ivy Tech for free.”
Indianapolis-based Lilly Endowment Inc. is also funding major projects at Taylor University, Indiana Wesleyan University, and Earlham College. Indiana Secretary of Commerce David Rosenberg sees community stakeholders coming together and focusing on long-term solutions for talent attraction and retention.
“There’s no silver bullet, especially as you try to rebuild and eliminate some of the blighted areas and bring in new talent. It’s going to take all those partners working together: the university attracting the students, but also the industry reaching into the campuses to attract those students … to not only start their career, but grow their families and really plant roots here,” Rosenberg said.