Two neighboring groups in southwest Indiana have announced an agreement aimed at promoting economic development coordination in their regions. Bedford-based Radius Indiana and the Southwest Indiana Development Council have signed a Memorandum of Understanding designed to foster continued growth.

Radius says the two organizations share similar demographics and industry clusters, such as agriculture and manufacturing. Under the terms of the MOU, both groups will identify opportunities to collaborate on outreach, such as joint site selector events, and continuing professional education for economic development professionals and elected civic leaders.

The groups will also hold an annual meeting to "facilitate conversations among both regions' Local Economic Development Organizations."

"This newly formed relationship has the opportunity to bring more business and success to the counties involved," said Jeff Quyle, chief executive officer of Radius Indiana. "We look forward to working alongside SWIDC and seeing what can be achieved as we expand our regional approach. We are already in the planning stages to co-host a site selector event in Chicago, and have started discussions to include representatives from SWIDC in our international outreach efforts."

Radius Indiana represents eight counties in southwest central Indiana, including Crawford, Daviess, Dubois, Greene, Lawrence, Martin, Orange and Washington counties. The SWIDC also represents eight counties, including Daviess, Dubois, Knox, Martin, Perry, Pike, Posey and Spencer counties.