INNOVATE INDIANA

Exhibit B-4
Project Budget & Funding
Description of Capital
Expenditures
ADDITIONAL SUPPORT | SECTION 19
There will be varying amounts of expenditures throughout the 3 project phases.
Phase 1 expenditures: $10k
-Database development and online hosting
Phase 2 expenditures: $70k
-Facility development
-Operational and personnel
-Supplies and utilities
Phase 3 expenditures: $6 million
-Facility development
-Exhibit design and production
-Operational and personnel
-Supplies and utilities
Description of Ongoing
Expenditures
-Facility costs for leasing space, utilities, taxes, personnel salaries and benefits, program
development, operational and administrative costs, exhibit development, and Facility supplies.
Local public funding $1,500,000.00
Private funding $1,500,000.00
Non-profit funding $3,000,000.00
Other funding $200,000.00
RCI funding required? Yes
RCI funding needed $470,000.00
RCI funding proportion of
cap ex 8%
Total private funds $4,500,000.00
Private ratio calc 67
Total public funds $1,970,000.00
Public ratio calc 30
Other $200,000.00
Other ratio calc 3
Total funding $6,670,000.00
Variance between budget &
funding $0.00
Private/public/other funding
ratio 67 / 30 / 3
EXECUTIVE SUMMARY THE REGION ENGAGED CURRENT TRENDS
STATE OF THE REGION
& QUALITY OF PLACE
VISION & STRATEGY PROJECTS
Project impact and
alignment with local or
regional plans
A centralized facility for STEM education and career development will provide the region with the
necessary resources and connections to industries to develop a thriving STEM workforce pipeline.
The facility would give regional students access to 21st century STEM experiences and curriculum.
The northern Indiana region is the ideal location for this facility in Indiana because of the current need
for qualified STEM professionals to strengthen the existing and growing STEM industries. The
northern Indiana region additionally has been making dedicated efforts to improve STEM education
through programs such as Project Lead The Way, the surrounding universities, and technologydriven
industry attractors, such as Innovation Park and Ignition Park.
The STREAM Factory exhibits will showcase regional business in the 8 identified economic sectors
that rely on and recruit a STEM workforce. By providing this targeted hands-on education experience,
the facility services both the educational and industry needs of the northern Indiana region. These 8
economic sectors include:
-Academia & Research
-Accounting, Finance, Business, & Real Estate
-Agriculture, Food, and Culinary Arts
-Art & Architecture
-Engineering, Manufacturing, & Construction
-Government, Law, & Logistics
-Health & Medicine
-Information Technology
5_SJC_STREAM Factory at RD
REGIONALCITIESOFNORTHERNINDIANA.ORG |
226
STAKEHOLDERS, EXECUTION
& STRUCTURAL CHANGES
BENCHMARKING
& MEASUREMENT
ADDITIONAL SUPPORT