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EIDD Annual Dinner Thank you to everyone who attended the Annual Dinner and Meeting. The agenda included a very brief meeting to conduct two very important pieces of business that allow EIDD to increase our funding from EDA, and to submit a grant for Union City and their wastewater treatment plant to EDA for disaster recovery funds.

President Ken Masters gave brief remarks looking back over 2008 and EIDD activities. He asked the region to consider Conserving Our Region in terms of natural resources, financial resources and community resources.

Vice-president Nate LaMar proposed to address brain drain by supporting entrepreneurs and working to attract more corporate headquarters instead of branch operations. He encouraged us to unchain ourselves and patronize local business owners who have made a commitment to invest in our communities and cited several restaurants, bed and breakfasts, and businesses across the region.

Michael J. Hicks, Ph.D., Economist and Director of Ball State University Center for Business and Economic Research was our Keynote Speaker. He discussed the current situation revolving around the bankruptcies of Chrysler and General Motors and the impact it will have on eastern Indiana. According to Dr. Hicks, our local employers in the automotive supply chain are going to be the first affected, but the impact will be felt throughout the local economy. Suppliers for automakers other than GM and Chrysler will also be affected but slightly less so. The outlook for the next 18 months to two years is difficult, but Dr. Hicks encouraged the region to use the time to prepare for the coming recovery. He said good companies will emerge stronger while those not well managed may not survive.

Special Recognition: Two special certificates of appreciation were presented to volunteers who have worked with EIDD to strengthen the region. Rick Barnett is Principal of Freeplay, a consulting firm providing a variety of services to businesses. He is a resident of Centerville and has extensive experience in industry as well as being an entrepreneur himself. Rick has been a strong advocate for regional entrepreneurship and has volunteered many hours of counseling and mentoring services to help entrepreneurs who have come to EIDD. That includes entrepreneurs from all counties EIDD serves. He has also helped increase EIDD staff skills and shared tools to work with entrepreneurs. Dave Denison, a Henry County entrepreneur producing natural agricultural enhancement products with his new company Organi-Gro was on hand for the presentation. Denison is one of the entrepreneurs Rick has helped launch a viable business.

Melanie Caldwell, Union County, worked many hours on farm legislation before and during the most recent legislative session. She has been an invaluable resource following changes and amendments to bills and keeping EIDD and others updated and involved in keeping information flowing to the State legislators. She was presented a certificate of appreciation for her work in Agriculture.

In keeping with supporting our regional entrepreneurs,the dinner was catered by J and D Custom Meats out of Rushville and gifts were presented from Warm Glow Candle Company, Centerville, and Wilson Winery.

Summer Changes at EIDD Starting June 2, EIDD will be operating short staffed for several weeks. Nancy will be off for health reasons and will not be back in the office full time until mid- July. She will be working from home as able and hopes to begin to attend a few meetings toward the end of June. In the meantime, nearly all activities will continue without interruption in the capable hands of EIDD staff, Troy Collier, Brian Bergen and Michael McDaniel. Congratulations! New Castle Mayor Jim Small received word Thursday afternoon just before our dinner that New Castle had been awarded their $2.7 million Neighborhood Stabilization Program grant. These funds will target four buildings in the downtown area that will be renovated into condominiums, offices and retail space with one lot becoming an eco-friendly downtown parking lot. As properties are sold, funds will go back into a revolving loan program for the City.