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City OKs more appropriations to EDC

April 26, 2012


COLUMBIA CITY — The council approved additional appropriation of funds to the county’s Economic Development Corporation’s 2012 budget proposal during Tuesday night’s meeting.
Alan Tio, president of EDC, presented this request to the board as he explained the importance of EDC and its goal, including sustainability, leadership, innovation and connectedness.
“Our mission is also to attain and attract new employment in the community,” said Tio. “We want to be seen as the organization to go to for business in Whitley County.”
EDC is a nonprofit organization established in 1992.
Tio explained to the council how EDC’s operating budget is supported by the city, county and towns, and it is based entirely on population and funded by County Economic Development Income Tax (CEDIT) dollars.
For Whitley County residents, CEDIT is a local income tax levied at 0.233 percent.
Mayor Ryan Daniel said the income tax rate was low in comparison to surrounding counties.
Tio requested a $25,500 increase in CEDIT-based funding, meaning a $5,877.75 increase in annual CEDIT funding from the Columbia City.
“I think we’re focused in the right direction, it’s just making sure we have the resources in place to support us in the long term,” said Tio.
Tio said the money would be used to help sustain EDC’s program of technical assistance and business coaching for small businesses and entrepreneurship.
This was the first time EDC asked for additional appropriation of funds since 2007, and Tio said other communities were on board with his request.
After the presentation, the council decided to approve the appropriation of additional funds to EDC for its 2012 budget.

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