In Wabash County, we’re focused on finding innovative and creative ways to fund economic development. The tax incentives we use are not necessarily unique, but the way we use them help businesses succeed is.
This kind of collaboration is possible because when it comes to economic development, Wabash County and its cities and towns are “all in”. We work together to provide local incentives and other benefits to businesses that locate here.
The best example of this is the high speed fiber-optic network that businesses here enjoy. In order to bring this critical infrastructure to Wabash County, a Tax Increment Financing (TIF) district was created to include all public right-of-ways from the City of Wabash northward to North Manchester and southward to the town of LaFontaine.
Four different political entities lie along this path – a city, two towns and the county – all of which worked together with private entities to make the improvements necessary to support the high-speed network. All four entities then assigned the governance of their portion of the TIF district to a single authority – the City of Wabash Redevelopment Commission. One of the first successful models of intergovernmental cooperation with private entities to bring this critical infrastructure to a community, the “Wabash example” has since been replicated many times throughout the country.
Our collaborative approach to economic development is one of the many reasons businesses here succeed. Contact us today to learn how this approach can work for yours!