Client:
Lafayette Urban Enterprise Association and the city of Lafayette, Indiana
Diane Lupke & Associates, Inc. has worked with the Lafayette Urban Enterprise Association and the city of Lafayette for the past fifteen years to advance and reconnect its lagging industrial areas with talent strategies and advanced manufacturing; and, revitalize its downtown through entrepreneurship and business support strategies.
In 2007, Lupke was engaged to prepare a regional market analysis and its second five-year strategic action plan.
Strategic Action Plan:
Regional Market Analysis and Strategic Plan
The plan focused on three elements:
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Reconnecting the distressed industrial enterprise zone with advancing sectors of the economy
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Placing zone residents in career-oriented employment
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Repositioning the downtown as the region's downtown
Our Approach:
New action strategies included: manufacturing business networks among regional suppliers; manufacturing and healthcare career ladders for area employers; entrepreneurship contests for elementary school youth through university students; and new downtown marketing.
in 2016, Lupke was again engaged to re-envision the enterprise zone program around Innovation and entrepreneurship with supporting incentives. Legislation establishing pilot Innovation and Entrepreneurship Districts was passed in 2017. Lafayette and Fort Wayne, Indiana, gained the first designations.
Outcomes:
Since its founding, zone businesses have benefited from $ 3 million in tax credits, resulting in $72 million of new capital investment, equipment, and wages. The LUEA has been a part of more than $40 million in new development. In all, more than $100 million has been leveraged in zone and business investments.
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Implementation of the combined plans has resulted in $100 Million Leveraged
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$3 million in tax credits
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$72 million in capital investment
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$40 million in new development
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$100 million leveraged