Strategic Development Commission Approves
$5 Million in Early Childhood Aide,
over $100,000 in Forgivable
Loans
FORT
WAYNE, Ind., May 1, 2024
/PRNewswire/ -- On Friday, April 26,
the Northeast Indiana Strategic Development (NEI SDC) approved
investments in two projects to assist working families and
accelerate economic development in the region.
The Goal II Committee, focused on Talent Development and
Education, advanced two projects to the full NEI SDC, which voted
to approve both requests as recommended by the Committee.
- Northeast Indiana Early Childhood Coalition was approved for an
investment of $4,999,669 to support
the creation of the "Tri-Share Plus" model to address affordability
and accessibility through increased financial aid for working
families, while supporting the health of childcare organizations by
creating a shared service model for back-office functions.
- Questa Education Foundation was approved for an investment of
$110,000, matching a $500,000 donation from the Don Wood Foundation,
to expand its forgivable student loan program to attract students
from outside of Northeast Indiana
to attend college in the region and stay after graduation.
The Tri-Share Plus model splits childcare costs between the
state, employer, and family, with each paying one third of the
amount. For example, a family of four earning between 151% and 400%
of the Federal Poverty Level will pay approximately $7,000 for childcare instead of $22,000.
Mayor Richard Strick of
Huntington chairs the Goal II
Committee that advanced the funding requests to the full commission
for consideration.
"The Northeast Indiana Strategic Development Commission is
thrilled to advance these exciting initiatives with the potential
to yield generational returns for our region," said Mayor Strick.
"By investing in innovative and transformational initiatives at
both ends of our educational spectrum, the Strategic Development
Commission is working to fulfill the challenge issued by the
General Assembly when they created this body and funded our 5-year
strategic plan."
All projects seeking support from the Strategic Development
Commission must first submit a proposal through the project intake
portal available at www.neindiana.com/sdc. Projects that satisfy a
technical review are advanced to one of three committees comprised
of NEI SDC members. Committees then conduct a substantive review of
project proposals and may choose to advance funding requests to the
full NEI SDC for discussion and approval.
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SOURCE Northeast Indiana Regional Partnership (NEI)