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EDC interim president reports tentative investments, process shift for incentives
Summary
Jonathan Blake, interim president of the Terre Haute EDC, reported conversations with GE Aerospace, detailed a potential 'Project Holly' with millions in property and personal property investment, and said the EDC will involve its executive committee earlier in incentive discussions.
Jonathan Blake (S5), interim president of the Terre Haute Economic Development (EDC), updated commissioners on business attraction and retention efforts, including a recent tour at GE Aerospace and several potential projects. Blake said a project currently called 'Project Holly' could bring "about 8 to 10000000 dollars in, property" plus about "another 40 to $50,000,000 in, personal property," and that the EDC is coordinating with city officials because the project sits within city limits.
Blake also described a deliberate process change: rather than negotiating incentive structures behind closed doors, the EDC will bring recommendations to its executive committee earlier so elected officials are informed before legislative consideration. He said the organization completed an assessment and is implementing improvements to business retention and expansion procedures.
