Comprehensive Regional Plan - Northwestern Indiana Regional ...

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2040 CRP Summary / Human and Economic Resources FACING REALITY / HUMAN AND ECONOMIC RESOURCES 62 A core indicator of a vibrant region is the health of its economic sector. Northwest Indiana competes in the Midwest, the nation and the world to attract business, industry and economic development opportunities. A number of quality education institutions are in place to train our work force for the challenges of the 21st century. As our economy continues to move away from a manufacturing and goods economy to a services and professional economy, Northwest Indiana must adapt to these changing factors and position ourselves successfully to compete in an increasingly global marketplace. Economic revitalization is dependent on Northwest Indiana’s business, government and institutions working together to improve work force skills, develop desired infrastructure and create reinvestment opportunities in the region’s core communities. Major partners facilitating progress include the Northwest Indiana Regional Development Authority, the Northwest Indiana Economic Development District and the Northwest Indiana Forum. Taken together, a strong economic framework is in place, and the challenge to the region will be to assemble the necessary resources for growth and success. The 2040 CRP places emphasis on reinvestment and redevelopment of the region’s core communities, particularly focusing on Gary, Hammond, East Chicago and Michigan City. Support for the economic health and vitality for the region’s core communities was an important theme throughout the planning process. JOB GROWTH IN NORTHWEST INDIANA 1980 - 2040 (PROJECTED) 328,770 353,091 279,868 1980 1990 2000 2010 2020 2030 2040
CURRENT CONDITIONS AND NEEDS To properly analyze our economic conditions and outlook, we must understand the economic “base” of Northwest Indiana. For more than 100 years, our region has been a prime location for manufacturing, and this economic legacy has afforded our residents a solid quality of life and security. Over the years, however, this sector has lost ground to other areas such as government, health care and retail tourism. Even so, manufacturing continues to be the leading sector in our regional economy in terms of jobs. The challenge for our future resides in our region’s ability to balance these jobs with those required to compete in an ever-changing global economy. 63 Northwest Indiana’s position as the eastern gateway to the global city of Chicago and our historic role as a transportation and freight corridor offer an abundance of possibilities to expand our quality job base. Economic Trends and Employment Historically, much of the economy of Northwest Indiana was built on the steel industry. Although a leader for much of the last century, restructuring in the industry has meant fewer jobs, reduced tax revenue and environmental cleanup challenges. The loss of jobs in a once-dominant industry corresponded with a rise in those living below the poverty level, with Lake County having a rate well above the national average. Our region needs to continue to position itself as prime location for economic development opportunities that provide for the creation and retention of quality jobs. Job creation itself is difficult to predict. Many factors influence job growth in an area, such as governmental policies and civic amenities. Taken together, Northwest Indiana has plenty of reasons to be optimistic about future job growth.
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An Evolving Region THE CRP STRESSES
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R R R ¬«41 ¬«41 Hammond Munster
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Northwest Indiana Growth and Revita
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Initiating Change A meaningful plan
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“The Comprehensive Regional Plan
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Page 63: 59 Brownfield Remediation: The site
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Page 71 and 72: Chapter V: Stewardship & Governance
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Page 80 and 81: 2040 CRP Summary / Implementation I
Page 83 and 84: OUR FUTURE AWAITS “Let’s commit
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