The Pike County Economic Development Corp. says a proposed Entrepreneurship & Technology Center has secured a $2 million grant from the federal Economic Development Administration. When complete, the facility will feature a coworking space, makerspace and business incubator.
Pike County EDC Executive Director Ashley Willis tells Inside INdiana Business the project had previously received 60/40 grant match from the EDA, however steel tariffs that went into effect in December led to the project going $900,000 over budget. As a result, the organization and the EDA came to an agreement to terminate the original grant and re-apply for an 80/20 grant match.
The total cost of the project is just over $2.5 million. Officials hope to begin construction in the fall and the project is estimated to take 18-24 months to complete.
The Pike County EDC will be the anchor tenant of the facility, which will also include a training facility for existing and future employers, as well as offices for rent.