The City of Fort Wayne has been awarded $33 million in federal funding for future development projects. Mayor Tom Henry made the announcement Wednesday.
The City of Fort Wayne is the only entity in Indiana to receive funds from the New Markets Tax Credit Program this year. It grants tax credits to investors for development projects in low-income communities.
In 2008 Fort Wayne received approximately $15 million from the program, which went towards completing the Harrison project downtown.
Governor Mike Pence announced Wednesday the Indiana Economic Development Corporation has secured job commitments with a record 261 companies this year. But Pence says there’s still more work to be done.
The job commitments made in 2013, worth more than $2 billion to Indiana’s economy, are expected to create more than 21,000 jobs in the state over the next several years. The expected jobs will pay a higher wage, nearly 22 dollars an hour, than the state average, which is 20 dollars an hour.