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Dec 10

Why Communities Invest in Economic Development

Posted on December 10, 2021 at 8:55 AM by Shelby Abner

Economic development is more important than ever during times of economic retraction that the COVID-19 pandemic has caused. As a community supporting over 28,000 residents, we must strategize for business growth and resiliency. Currently, the Brownsburg tax base is about 70% residential and 30% commercial. More commercial and industrial projects will generate more tax revenue for the town. The Town Council’s top priority is realizing 3% tax base growth.

By the end of October, our Economic Development Department secured over $132 million in capital investment and 900 jobs paying an average of over $25 per hour.

Our Economic Development team has been working on several projects to drive investment in Brownsburg. In November, the Town of Brownsburg, along with developer Scannell Properties and general contractor The Peterson Company, broke ground on the first phase of the Ronald Reagan Logistics Center at I-74. This logistics and distribution center will create nearly 425 jobs and bring in $64.2 million in capital investments for Brownsburg, making it the largest commercial investment in Brownsburg to date.

In October, the Town Council adopted a Streetscape Design plan to enhance Main St. from Green St. to Northfield Dr. through beautification, traffic calming, and basic pedestrian safety features, such as continuous sidewalks, and modern crosswalks. While infrastructure must be updated before work can begin, this plan will improve aesthetics for businesses located on the Main St. corridor. 

Engaging our small businesses is also important because they contribute to the workforce and Brownsburg’s tax base by providing resources to fund services residents need to have a good quality of life. 

You can help support our local economy by shopping and eating locally. When you spend your money with local businesses, you help pump money back into the local economy through taxes, payroll, and purchases. This means additional money for our roads, education, health and wellness resources, other services, new jobs, and more. Eating from one of our many local restaurants also results in an additional 1% food & beverage tax for our Parks Department.  

A key path to growing Brownsburg is investing in economic development to ensure our community’s businesses are successful.

Economic Development Graph

Benefits of Economic Development Include: 

  • Maintain, increase, & diversify tax base
  • Increase tax revenues to help keep pace with the rising cost of municipal services
  • Business Retention
  • Maximize property through highest & best use
  • Create and retain jobs, increase per capita income
  • Self-sufficiency in the face of state and federal budget issues
  • Recognition of local products
  • Beneficial partnerships 
  • between local governments, businesses, & community members