The U. S. Economic Development Administration (EDA) funded research to develop a model that can be used by America's rural communities. Indiana was chosen as one of only two grantees in the nation. This model assesses and maximizes their regional economic advantages. The new strategy builds upon Economic Growth Region 8's economic assets.
The partnering universities completed the EGR 8 cluster research in the fall of 2006. An Indiana-based planning firm, Strategic Development Group, assisted Purdue University, Indiana University, and local stake-holders in developing this strategy.
Representatives from government, business, education and other sectors were asked to provide critical information for the development of the regional strategy and national model. The Purdue-Indiana University team is available to report to county commissioners, mayors, and city and town councils on the planning process.
How Will the New Economic Development Strategy Help this Region and My Community?
This strategy is intended to set the stage for the implementation of an ongoing regional initiative to stimulate new investment and job creation within all participating counties. The potential growth clusters identified in the regional strategy have been provided to each EGR 8 community for its economic development effort.
The research component focused on business clusters as the foundation for future economic growth. Clusters are groups of businesses that share common or complementary markets, suppliers, or workforce skills.