Developers: Private Sector Key to Electric Works' Future

Posted: Updated:
Kingsbury (left) and Doden say local private support can help secure the future of the project. Kingsbury (left) and Doden say local private support can help secure the future of the project.
FORT WAYNE -

Leadership behind the $440 million Electric Works development in Fort Wayne say private sector buy-in will help the mixed-use innovation district power through a "critical moment." RTM Ventures Partner Jeff Kingsbury says, while organizations like Parkview Health and Indiana Tech have already signed on as tenants, developers need to show "co-investment opportunities" to local private sector leaders as well. Despite last week's claim that a "small group of people" were working to "thwart the progress" of the project, Kingsbury says he believes the effort still has strong public support.

In an interview on Inside INdiana Business With Gerry Dick, Kingsbury and former Greater Fort Wayne Inc. Chief Executive Officer Eric Doden said potential national investment partners want to see the local private sector on board as well.

Electric Works also has letters of intent for tenants including the Indiana University Research and Technology Corp. and  Roanoke-based farm-to-table restaurant Joseph Decuis. Kingsbury says the tenant commitments involve about 225 planned new jobs.

Moving forward, Kingsbury says developers are looking for businesses that want to collaborate with the "eds and meds" that would call Electric Works home. He tells Inside INdiana Business that from the beginning the effort has been "all about the community and our focus on quality of life, education, workforce development and economic development."

Doden says he is also bullish about Electric Works, which he calls "the kind of project that makes you a national economy."

Last week, RTM Ventures issued an open letter on the project's website, saying a "small group of people in positions of influence and power" are "working aggressively to thwart the progress of this project and the potential of this community." Although they did not name any specific individual or group, the developers say the issue has resulted in "skittish investors" and reluctant potential prospects.

  • Perspectives

    • The First Thing Nonprofit Boards Should Focus On: Member Engagement

      There is no shortage of literature on how to run a nonprofit and what the board of directors should be doing. Do a quick search for “grant writing advice” or “board meeting agenda” and you will easily find hundreds of resources. But if there is so much helpful information around, why is serving on a nonprofit board sometimes so draining? After founding two nonprofits, Musical Family Tree and the Speak Easy, as well as serving on several nonprofit boards...

    More

Subscribe

Name:
Company Name:
Email:
Confirm Email:
HTML
INside Edge
Morning Briefing
BigWigs & New Gigs
Life Sciences Indiana
Indiana Connections
INPower
Subscribe
Unsubscribe

Events



  • Most Popular Stories

    • (photo courtesy The Times of Northwest Indiana)

      Hammond Pulls 135 Jobs from Illinois

      A Hammond factory recently vacated by Michigan-based Lear Corp. didn’t sit empty for very long. Midland Metal Products has taken over the former seat factory, having relocated from Chicago after 95 years. 

    • (photo courtesy of TriCore Logic)

      Fort Wayne IT Firm Expanding

      TriCore Logic has announced plans to expand its office space and staff at its downtown Fort Wayne headquarters. The company plans to invest over $200,000 in the expansions. The 2010-founded company moved to the Anthony Wayne building in 2013, and now plan to grow their staff of five employees by up to eight over the next four years. 

    • (courtesy Wes Mills)

      Purdue: Farmland Values Decline Fifth Straight Year

      The value of top-quality farmland in Indiana has declined continuing a five-year trend, according to the latest data from Purdue University.  The statewide average of the best cropland is $8,212 per acre, down more than five percent, or $456 per acre, from the same period last year. Purdue’s survey shows average and poor-quality farmland values also dropped, but not as much. Average quality farmland declined by 0.9 percent. Purdue says the poor...

    • ‘Transformation’ Continues in Westfield

      Indiana’s fastest growing city is showing no signs of slowing down.  Mayor Andy Cook says now that Westfield has established itself as a destination for family sports with the Grand Park Sports Campus, the $35 million Grand Junction Plaza will transform the city’s downtown into a destination, a place “where people want to be.”   Cook says the project, more than a decade in the making, is an example of a place making strategy necessary for Midwest...
    • Elanco is headquartered in Greenfield.

      Elanco to Acquire Bayer AG Animal Health Business

      Greenfield-based Elanco Animal Health Inc. (NYSE: ELAN) has entered into an agreement with Bayer AG (ETR: BAYN) to acquire its animal health business in a deal valued at $7.6 billion. If approved, it would double Elanco’s Companion Animal business and create the second-largest animal health company by revenue. “Joining Elanco and Bayer Animal Health strengthens and accelerates our IPP strategy, transforms our portfolio with the addition of well-known pet brands, brings...