U.S. Sen. Todd Young, R-Indiana, joined the Northwest Indiana Forum and more than 600 guests at its annual Ignite the Region luncheon Aug. 20.
“I think the Region’s already ignited. It’s on fire,” Young said.
The luncheon celebrated successes in attracting massive investments through the READI program and the IGNITE economic development road map for Northwest Indiana.
The state’s Regional Economic Acceleration and Development Initiative program has brought massive investment to the Region.
“This initiative is redefining our Region’s future, driven by the mission to create the most dynamic economic environment in the Midwest, fueled by innovation, diversity and talent,” Northwest Indiana Forum President and CEO Heather Ennis said.
“In the heart of our strategy lie five pillars: marketing, entrepreneurship and innovation, placemaking, talent and infrastructure,” she said. “These pillars are not just abstract concepts; they are the bedrock upon which our economic future is being built.
“These five pillars initially attracted $50 million of READI round one money and over $700 million of cash investment into our economy.”
The Forum is moving 25 of the over 90 projects submitted into the next round of READI funding. Other projects are in the works for other funding opportunities.
“We will be weaving arts and culture, sustainability and the five big ideas (advanced energy, creative culture, opportunity campuses, sustainable destination development and investment-ready assets) into Ignite as we work with businesses and organizations across the Region to dream of what’s next for Northwest Indiana,” she said.
Opportunity campuses would spur workforce readiness and create hubs of entrepreneurship. Advanced energy sector means building on affordable and sustainable technologies building out the infrastructure. Sustainable destination development includes creating a convention center in Northwest Indiana and an inn near Indiana Dunes National Park.
Economic investment includes assembling land and revolving loan funds to target industry sectors and residential development. Industry innovation and creative culture would build on creative cultural experience and resources to increase innovation and business startups.
Young reinforced the importance of capitalizing on science and technology opportunities in Northwest Indiana. Producing semiconductor chips in the United States is important for national and economic security, he said.
The falling birth rate is also a concern, Young said.
“We need to show some leadership and make what I think is a fairly easy argument that legal immigrants add to our economy net,” he said.
The U.S. should also work to keep foreign students who come to the United States to get college degrees, he added.
“We have to leverage our ability to accept and accommodate people from around the world as we historically have,” he said, without inviting immigrants who will compete with low-wage workers.
Young spoke of the nation’s strengths, including being protected by two oceans and “the strongest military in all of humankind.”
“The only major weakness I can think about is our politics, and even that should give us some measure of encouragement, because our political system says we're in charge with the people,” Young said. “So why … are you so damn pessimistic? This is America. God bless America.”
Caption: Northwest Indiana Forum President and CEO Heather Ennis questions U.S. Sen Todd Young during the Ignite the Region luncheon Aug. 20 at Avalon Manor in Merrillville. (Photo by Heather Pfundstein)
