An economic development incentive for one local business will also serve as a guinea pig for potential other economic development projects in the city.
Monday evening, the Logansport City Council voted to participate in the Indiana Sustainability Development Program. Undergraduate and graduate students from Indiana University campuses are eligible to participate in the program as energy externs, receiving work experience related to their college major.
The council awarded $3,000 from its County Economic Development Income Tax (CEDIT) funds. The extern, who has already been identified by IU, will be responsible for reviewing ways Logan Stampings Inc. (LSI) can reduce its overhead costs at its new location in the former Hartz Mountain building in the Cass/Logan Industrial Park. The remaining funding for the externship will be paid from the city’s internship program which also is funded with CEDIT dollars.
“We’re fortunate to be able to participate with IU in this program,” Mayor Dave Kitchell said Wednesday. “If the extern’s work eventually saves an industry like LSI the cost of the internship, it’s money well-spent because it reduces overhead costs and allows companies to improve their bottom line balance, or to spend more on salaries, benefits, new equipment or expansion. It’s just good business.”
Kitchell said the popularity of the program with other communities was evident when he applied for the externship. Demand for the work externs do is strong in Indiana, he said.
“If this is successful this summer, we’d like to extend the scope of the extern’s work beyond LSI to other businesses and industries, and perhaps apply again in the fall or next spring,” Kitchell said.
The extern’s first day in Logansport will be May 20.
SOURCE: News release from Logansport Mayor Dave Kitchell