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COLUMBIA CITY â The council approved additional appropriation of funds to the countyâs Economic Development Corporationâs 2012 budget proposal during Tuesday nightâs 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.
âOur mission is also to attain and attract new employment in the community,â said Tio. âWe want to be seen as the organization to go to for business in Whitley County.â
EDC is a nonprofit organization established in 1992.
Tio explained to the council how EDCâs 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.
âI think weâre focused in the right direction, itâs just making sure we have the resources in place to support us in the long term,â said Tio.
Tio said the money would be used to help sustain EDCâs 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.