Grants to focus on regional housing study and expanded support for entrepreneurship career development
Indiana University Northwest was recently awarded two grants, totaling $110,000, that will help advance the economic and talent landscape of Northwest Indiana. With these grants, IU Northwest will be positioned to further contribute to the growth, strength and vitality of Northwest Indiana.
“IU Northwest is grateful to be the recipient of this external funding,” Chancellor Ken Iwama said. “When our campus thrives, so does our region. Through these projects, IU Northwest can continue to do what we do best, which is to enrich minds, advance lives and build better and stronger communities.”
Northwest Indiana Housing Study: $94,000
Funding partners: Northwest Indiana Forum Foundation and the Indiana Economic Development Corp. (IEDC), as a part of the Regional Economic Acceleration and Development Initiative (READI) grant
Through this study, IU Northwest will establish a team of faculty and student researchers to conduct an extensive analysis of the Northwest Indiana housing market to identify strengths and weaknesses. Their findings will support regional development organizations, as well as the Greater Northwest Indiana Association of REALTORS® in advocating for and developing specific housing strategies across the seven-county region.
“Sustained economic growth requires an expanding educated and skilled workforce,” said Micah Pollak, IU Northwest associate professor of economics and director, Center for Economic Education & Research.
“The Housing Study will investigate how the quantity, quality and variety of available housing in Northwest Indiana will meet the needs of a growing workforce and identify areas in which further residential construction is needed.”
Data collection and analysis will begin in summer 2023, with final report findings released in summer 2024.
Launched by Gov. Holcomb and led by the Indiana Economic Development Corporation (IEDC), READI encourages regional collaboration and data-driven, long-term planning that will attract and retain talent in Indiana. The $500 million READI fund was passed by legislation during the 2021 session and was divided among 17 regions. Through READI, 17 regions across the state that represent all 92 counties are moving forward with projects and programs designed to enhance Indiana’s regions for current and future generations of Hoosiers. Collectively, the state’s $500 million investment is expected to yield an additional $9.86 billion public, private and nonprofit dollars invested (19.72:1 investment leverage ratio) in enhancing Indiana’s quality of life, quality of place and quality of opportunity.
RedHawk Entrepreneurs: $16,000
Funding partner: The Procter & Gamble Fund, as part of the Higher Education grant program
Enrollment in entrepreneurship coursework at IU Northwest has grown by 80 percent over the last five years. To support this interest, IU Northwest will enhance support for entrepreneurship career development through new curricular resources, like integrated real-time simulations and the creation of the RedHawk Entrepreneur Center.
In this dedicated space, students will research ideas, collaborate with partners, spark innovative thinking and gain access to key tools and resources.
“Together, the integration of real-time simulations into the entrepreneurship curriculum and the launch of an entrepreneur center will form a pathway improving student outcomes, inspiring innovative mindsets, nurturing career development and fostering entrepreneurial success,” said Cynthia Roberts, dean, School of Business and Economics.
In time, the RedHawk Entrepreneur Center will be opened to the larger community and include a Northwest Indiana Small Business Development Center presence, further strengthening career development opportunities for IU Northwest students and community members.
The Proctor & Gamble Fund Higher Education Grant Program provides support for efforts of regionally accredited U.S. colleges and universities that will better prepare students for success in business.