By Krystall Shull
Members of the Senate Committee on Commerce and Economic Development voted unanimously last week in favor of a resolution authored by senators Jim Banks, Jim Buck and Travis Holdman for the legislature to study the benefits of creating an industrial zone within the Midwest Automotive Loop.
?I commend Mayor Greg Goodnight and Mayor Wayne Seybold for their innovative idea and work in creating the Midwest Auto Loop,? Buck said. ?It?s my hope this study committee will help identify incentives that will bring about a great economic boom to our communities.?
Senate Resolution 3 urges the Legislative Council to assign an interim study committee to examine the possibility of creating an industrial zone within the Midwest Automotive Loop and to also look at possible tax credits and regulatory relief programs to entice new industries to the zone.
?With Indiana?s fiscal stability, we are in a great position to step-up investment opportunities,? Holdman said. ?The Midwest Automotive Loop will give us a new competitive edge, enabling these tried-and-true industrial communities to help each other.?
The Midwest Automotive Loop was established this past summer by Kokomo Mayor Greg Goodnight and Marion May Wayne Seybold. The loop, which includes Kokomo, Marion and surrounding areas, was created this past summer to capitalize on the area?s strengths to attract additional manufacturing technology investments to the region.
?The creation of the Midwest Automotive Loop highlights the region?s strengths and provides a huge economic tool to attract new jobs for our highly-trained Hoosier workforce,? Banks said. ?I am committed to working with my fellow lawmakers, to build on the success this region has enjoyed in the past and provide additional resources for our communities.?
SR 3 now heads to the full Senate for further action. Hoosiers can get a full, updated copy of the resolution online by clicking here.
Source: http://talkofthetownwc.com/blog/2012/01/midwest_automotive_loop_resolu.html
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