EDC plans 2026 budget amid uncertainties

Economic Development Corp. of Wayne County plans to conduct business as usual despite looming funding uncertainties for local, county and state government units related to its operations.

At its Aug. 4 board meeting, President Valerie Shaffer received members’ tentative approval for a 2026 budget she presented Aug. 6 for county leaders, who have the final say.

Shaffer recommended spending $829,312.52, which is a 3.3% increase over this year.

Board member Rodger Smith noted Wayne County Council’s recommendations to departments to cut their budgets by 5%.

However, Shaffer noted EDC’s funds come from Economic Development Income Tax rather than property taxes, which are facing more immediate cuts. The EDIT is being eliminated in 2028 unless state lawmakers change course. If so, Shaffer said very intentional conversations will need to take place with county officials so EDC has operating funds.

Shaffer said councilors don’t want requests for more money later in the year, so covering all potential needs in the initial budget is best. EDC has traditionally returned money each year by containing costs. In January, the board voted to return $85,368.10 to the Consolidated EDIT Fund.

“There’s a lot going on right now,” she said about funding uncertainties.

Most of the proposed 2026 increase would offset expected higher health insurance premiums and help current employees’ salaries keep up with inflation.

However, $5,400 has been budgeted to pay a high school intern about $10 per hour for two semesters. EDC would be among local employers aiming to provide new or additional work-based learning opportunities to help Indiana high schools meet new graduation requirements.

Shaffer cut EDC’s travel budget by about $4,000 because no foreign trade missions are planned at this time. Former Gov. Eric Holcomb encouraged Hoosier economic leaders to join him on several trips to grow global connections, but current state officials pulled back on those efforts.

She recommended $2,000 more for staff training/education fees to cover conferences. Shaffer noted the importance of attending site selector conferences to make direct connections with those who might help recruit employers to the county.

EDC’s budget for advertising and public relations is increasing from $60,000 to $72,000 to cover costs related to its expansion of its Home in Wayne campaign and website revisions.

After updating computers and other equipment in recent years, the most pressing capital need is a new copier ($7,000).

In other business

• The board supported Beals-Moore & Associates’ proposal to subdivide lots in Midwest Industrial Park’s Phase I. They seek consistency for prospective employers, who might consult Google Maps or Wayne County’s Geographic Information System to look at land. That work also removes one later step for land sales.
• The new water tower at Gateway Industrial Park in Cambridge City is still on track for completion by September 2027. Permits are being sought, and tower logo designs are being reviewed.
• Richmond Sanitary District says engineering is 90% complete for the industrial park’s sewage interceptor project. Easement acquisition is being finalized.
• Twelve of 44 properties approved for Wayne County’s Blight Program have been demolished. Work should be finished in December.
• IEDC recently began approving some Regional Economic Acceleration and Development Initiative 2.0 projects after the new gubernatorial administration paused the $500 million distribution. East Central (Wayne, Fayette, Henry, Randolph, Jay, Blackford, Delaware and Grant counties) received $35 million in April 2024. IEDC was to coordinate with each region to identify significant projects for investment. Shaffer hopes local projects will be approved soon.
• The board will pay $13,275 to IronGate in Hagerstown for photography, strategy, website and other updates for its Home in Wayne branding. Additional work will be proposed in 2026.