What is Carroll County EDC all about?

Editor's Note: The following explanation was provided by Carroll County Economic Development Corporation to help readers understand the organization.

Carroll County Economic Development Corporation was established 20 years ago to improve and diversify the county's economy and tax base via retention and attraction of business. Offices are on the second floor of the REMC building in Delphi at 119 E. Franklin St.

EDC is a not-for-profit entity with 501(c)6 status. The executive director position was originally part-time, but in July 2006, EDC followed the recommendation of County Commissioners and Carroll County at the Crossroads initiative and hired Daryl Smith as full-time executive director. Cathy Watkins provides support to both EDC and the Carroll County Chamber of Commerce, who shares office space in the same building.

EDC member governmental units are: Carroll County, Delphi, Flora, Camden and Burlington.

The board of directors meets monthly. Three are appointed by each of the five member units of government. Directors serve three-year terms as volunteers. They receive no compensation for this service from EDC or the governmental unit they represent.

Board members include:

County representatives - Ron Kennedy (president), George Mears and Paul Marcellino;

Delphi representatives - Eric Ross (secretary/treasurer), Brad Burton and Bonnie Maxwell;

Flora representatives - Bret Rinehart, Bret Hanaway and a vacancy;

Camden representatives - Bob Overman, Richard Fite and Bob McCain; and

Burlington representatives - Ruth Johnson, Jay Bordner and Milt Rodgers (vice president).

Funding

Operating funds are provided by member governmental units through Economic Development Income Tax (EDIT) revenues. In Carroll County, EDIT revenue is distributed according to a formula, to County Government, Delphi, Flora, Camden, and Burlington. About 20% of the EDIT revenues go through those units of government to EDC to fund its activities. All other EDIT revenue is spent on various projects or held over by the government entities themselves.
Total EDIT Revenue for 2007
Carroll County:
$214,196
Delphi:
$71,550
Flora: $49,303
Camden: $6,501
Burlington: $5,648
Total:
$347,198

EDIT Revenue to EDC

Carroll County:	$48,639
Delphi:	$9,415
Flora:	$8,106
Camden:	$2,169
Burlington:	$1,412
Total:	$69,741

In addition to EDIT revenue, contributions and interest income from reserves brought 2007 EDC revenue to over $80,000. EDC held over $177,000 in reserves at 2007 year-end. Savings were slowly accrued over the past 20 years.

EDC expenditures for 2007 include the executive director salary and benefits; a portion of the secretary's expense; office supplies, telephone, Internet, postage, utilities, accounting services; Community Enhancement Awards; and travel. Total expense for these items in 2007 was $65,000.

To develop and focus on goals, EDC engaged Ball State University and the St. Claire Group in 2007 to do a Strategic Directions study. This study was paid for by additional contributions from the government entity members as well as donations from several county businesses and an REMC Round-Up grant. (The $21,000 for the study is not included in the figures noted above because expense and reimbursement fell only partly in 2007.)

The study was reported extensively in the Comet, and listed three Strategic Imperatives: 1.) Build on Carroll County's leadership in agriculture; 2.) Create a real estate development plan to create shovel-ready sites for commercial development; and 3.) Raise the money through an Economic Development Income Tax rate increase to accomplish these economic development goals.

Accomplishments:

1.) EDC has been involved in helping attract additional agricultural businesses. While EDC has not tried to attract dairy investment, they have helped to welcome the three families to the county. EDC is trying to identify other potential agriculture related businesses that might relocate or start up in the county. 2.) In order to attract other commercial or industrial enterprises and jobs and to diversify the economy, appropriate land has to be available for sale and ready for development with access to water, sewage treatment, utilities, and other infrastructure. EDC is spearheading an effort to secure options to buy real estate at certain locations in the county to provide shovelready spots for commercial or industrial development. Some sites were identified as long ago as 1988 in a county economic development study. EDC set aside $60,000 of their reserves in 2008 to accomplish these goals, and as land purchase options are acquired, announcements will be made public. 3.) EDC is supporting the proposed increase in the EDIT tax. Since the EDC is supported mainly through EDIT taxes and EDC is the entity in the county that is responsible for attracting business, the EDC, in conjunction with the Carroll County Chamber of Commerce, is asking the county government to increase the EDIT tax rate from the current one tenth of one percent to one quarter of a percent.

Tax Rate

Carroll County's EDIT rate of .1% is the lowest allowable in Indiana. Cass, Clinton, and Tippecanoe Counties collect .5%, Howard .2% and White .32%. EDC and the county chamber's leadership have developed a detailed list of projects needed to propel this county forward, and the EDIT tax is the vehicle for funding.

More about these future projects and other past and current projects- successes and failures- will be covered in the coming weeks.