Syracuse Economic Development Plan

SYRACUSE
ECONOMIC DEVELOPMENT
PLAN

The purpose of the Town of Syracuse's Economic Development Plan is to maintain Syracuse's competiveness as a location for economic growth.

Our program is designed to:          

  • BROADEN the tax base
  • INDUCE added capital investment
  • GENERATE new spendable income
  • STIMULATE the creation of new jobs
The major thrust of the plan is to develop a program that will attract new industries and investment, assist in local expansions and bring new jobs to Syracuse.

THE FOLLOWING ARE GOALS OUTLINED IN THE PRORAM

GOAL (1) Develop a business environment that is conducive to economic growth.

RESULT:

  • Serve as the entry point for prospects and act as a clearinghouse concerning site/building information, incentive programs, state programs and respond to requests for information who have reported needs.
  • Maintain communications and dialogue with the Indiana Corporation of Economic Development, the Redevelopment Commission of Kosciusko and Elkhart counties, local developers and various utility companies that serve our sites.
GOAL (2) Develop programs that will assist industry in the creation of new job opportunities and investment.

RESULT:

  • Develop a new Tax Increment Financing (TIF) area within a designated Economic Development Area that will allow for the expansion and replacement of new infrastructure for business (i.e., water lines, sewer lines, roads, lighting, sidewalks and project support). This program is designed to provide incentives to those companies investing in Syracuse with future TIF revenues.
  • Encourage project support when deemed necessary to encourage development.
  • Development of any type of business and/or industrial park is a huge undertaking, particularly for a town the size of Syracuse. In order to offer its citizens new job opportunities and nurture those favorable attributes which are necessary towards economic growth, the Town of Syracuse has established and is working towards the development of the Syracuse 6 & 13 Technology and Industrial Park. The Park has 60 acres available for development and is located in Benton Township in Elkhart County. During the development phase of this project, the Town of Syracuse will work and assist potential developers, work with major realtors in the marketing of the Park, provide access to potential prospects and assist in completing the necessary infrastructure needed.
  • The attraction of new industry is the most difficult and costly method of creating new job opportunities. Our aim is to develop name recognition and an open for business posture for development within the Town of Syracuse.
  • The Town in conjunction with the Syracuse-Wawasee Chamber of Commerce has developed and community profile folder, that includes demographic information, which can be used for marketing the community.
  • Explore other possible partnerships (i.e., trade shows, joint marketing).
  • Create programs such as the Syracuse Commercial Façade Revolving Loan Fund program (CRF-RLF) designed to assist in the efforts to revitalize and enhance the downtown areas and central business district.
  • Serve as a partner and facilitator to continue to work to build partnerships to promote economically sustainable projects in order to help ensure the long-term health and economic vitality of the Town of Syracuse.

GOAL (3) Develop a continuous, on-going relationship with all Syracuse industries.

  • Make regular visits to local business and industry (Retention & Expansion Program) so that early awareness of situations can be resolved.
  • Facilitate efforts to provide solutions to issues affecting business.

GOAL (4) Focus area attraction program on developing a community of both small and medium sized growth industries.

  • Develop a long range marketing program geared toward specific targeted markets. Visit prospects when deemed necessary.
  • Design industrial site and building profiles.
  • Increase outside community awareness through invitations to county, state and community executives.
  • Target markets at the regional level through the use of public relations releases in the media and newsletters.
  • The Town of Syracuse has its own website that allows potential prospects to access community profile and demographic information. A new economic development page should be added to the site.
  • Continue using websites of both, the Kosciusko and Elkhart county economic development corporations, as they list the Town of Syracuse's available buildings and sites in which a prospect may access. 

GOAL (5) Assist individuals/developers in the acquisition of industrial sites.

  • Develop an inventory of buildings and sites in which they will be made available to the Indiana Economic Development Corporation, Economic Development Corporations of Kosciusko and Elkhart counties and developers and utility economic development professionals that serve the Syracuse area.
  • Work with local property owners to develop zoned industrial/business sites, and assist with infrastructure development.