CICP News & Updates

Whatever you might think of the recently-passed stimulus bill – the American Recovery and Reinvestment Act of 2009, or ARRA – there’s no denying that it provides opportunities for Indiana to access funds for several key economic priorities.  While the state stands to receive some $6 billion in direct federal funding on a formula basis, the bill also contains billions in competitive funding that we could pursue to spur additional investment and job creation here.

John Ketzenberger writes about one such opportunity in a recent column in the Indianapolis Star, focusing on our BioCrossroads initiative’s work in healthcare informatics and electronic medical records (one area targeted by the ARRA).  Beyond this, the ARRA also focuses on other priorities that align with our economic development strategy: energy technologies, science and technology research, the life sciences, and next generation infrastructure (i.e. broadband and smart power grid).

In particular, Indiana has a strong heritage of innovation in energy technology and engineering.  Today, young companies like EnerDel, Bright Automotive and iPower Technologies, along with established leaders like Allison Transmission, Delphi and Cummins already put us on the cutting edge of the hybrid vehicle and power generation markets; the research capacity of institutions like Purdue and the Crane Naval Warfare Center help provide the intellectual capital that fuels growth in these high-tech sectors.

Watch for more on the energy front from CICP.  And as for stimulus funding, it’s critical that we pursue a concerted strategy to maximize Indiana’s benefit – and make sure that we gain a more lasting economic legacy than a temporary infusion of federal cash.