Purdue University’s Center for Regional Development (CRD) and the Indiana Business Research Center, in partnership with Economic Modeling Specialists Inc., have been awarded a $350,000 grant from the Economic Development Administration to study and improve rural economic development strategies.
Results of this study will help business and government leaders throughout the nation measure innovation capacity, analyze occupational and industry clusters, and prioritize public investments based on competitive advantages in their regions. The research team also plans to test new assessment and strategic planning methods in four diverse regions of the United States. Two of the test regions will be located in Indiana. A region in southwest Wisconsin and a region spanning parts of Mississippi and Alabama also are being considered.
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U.S. Assistant Secretary of Commerce for Economic Development Sandy K. Baruah said his agency looks forward to working with Purdue, IU and Indiana officials on this project.
“Rural America is home to nearly a quarter of the nation’s people and more than half of its commercial banks. Yet, with its wide-ranging geography, the ebb and flow of its industries, and its ever-changing technological and global challenges, America’s rural economy often performs differently than the rest of the U.S. economy,” Baruah said.