The City of Lawrenceburg has several economic development programs that can be used to assist business and individuals with moving new businesses to our area or expanding local businesses. In addition, we offer our municipal government partners loans that can be used for a variety of government needs. To access any of the programs listed below contact Tom Steidel, City Manager at 812-532-3553 or steidelt@col-in.net. Our current program offerings are as follow:
   
 

ECONOMIC DEVELOPMENT LOAN FUND (EDLF)

The EDLF is funded at $5 Million Dollars for 2008. Loans can be used to fund business or property improvements and/or expansions. The loans are always short term (limit seven years) and have been carrying an interest rate of tow (2) percent which is always up for review.

Loans may carry longer amortization schedules than seven years and, if so, will require a lump sum payment at the end of the term. Loans do not take the place of mortgages and loans must contribute significantly to the City overall in order to be considered. Collateral, in sufficient amounts to cover the city’s investment is always required. The City reserves the right to refuse to make a loan or it may set the requirements of any loan as it determines is appropriate.

   
 

SMALL BUSINESS GRANT FUND

The City of Lawrenceburg Small Business Grant Program has been in place since 2003 and has assisted over 25 businesses up to date. New or expanding businesses can apply for and receive up to $20,000 to assist in their start up or expansion. The program is restricted geographically to an area bordered by the river on the south, Tanners Creek on the west, Argosy Parkway on the east and the City boundary line on the north. These grants are usually applied for in the spring of the year and are awarded around mid year. The grants are competitive and may be for lesser amounts than $20,000. Monies not granted, or monies not used, may be re-granted throughout the year.

   
 

REGIONAL ECONOMIC DEVELOPMENT GRANT FUND

Web Site Address: lawrenceburgRED.com

This program was originated in 2006 to address our responsibility to invest certain gambling revenue funds in the regional economic development environment. The fund started out with $30 Million Dollars in funding for a three (3) year funding cycle (2006, 2007 & 2008). So far, we have committed over $17 Million Dollars to projects that have generated over 3000 manufacturing jobs and planted the seeds to harvest many, many more in years to come.

There are ten (10) counties in Southeastern Indiana eligible for grant funding. Program changes for 2008 included adding Dearborn County as an eligible county and adding “Action Grants” to our program which are grants that can be accessed throughout the year to assist in the direct funding of projects that are directly tied to job creation or expansion. The 2008 grants are due in at the end of March, 2008. Currently the eligible counties are Dearborn, Franklin, Union, Jackson, Jefferson, Decatur, Bartholomew, Ripley, Fayette and Jennings. City Council will review the program effectiveness and value to the City this fall and determine whether it returns next year and at what funding level.