date: 04/28/2003 Source: Post-Tribune
Development at a Glance
Press – Highlights
of the economic development portions of the two-year state budget bill
approved by the General Assembly. Gov. Frank O’Bannon plans to
sign it into law. Although lawmakers hope some of the initiatives
and appropriations would continue for 10 years, only funding amounts of
the next two years are included.
2.2 million in state matching finds for improvements at the
$75 million for the 21st Century Fund to help foster
research-and-development ventures, including those between businesses
and universities, and move resulting products to market.
$9 million for technology parks, which are essentially high-tech
versions of industrial parks.
July 2005, moves some economic-development functions and programs from
the state Department of Commerce to a public-private partnership group
to be headed by the next lieutenant governor.
$10 million to extend fiber-optic lines for high-speed communications
to more cities and universities. They now link Indiana
University at Bloomington, IUPUI and Purdue University at West
construction of university research facilities.
the 10-percent tax credit for research-and-development equipment for
$8.4 million for research on new uses of agricultural products and
establishes a pilot program for economic development in rural areas.
$1 million to promote the tax-restructuring package enacted last June.