Northeast Indiana Greenlights Childcare Assistance for Working Families

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FORT WAYNE, Ind., May 1, 2024 /PRNewswire/ -- On Friday, April 26, the Northeast Indiana Strategic Development (NEI SDC) approved investments in two projects to assist working families and accelerate economic development in the region.

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PR Newswire

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Mercoledì, Maggio 1, 2024

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Investment, Education, Health, Committee, General assembly, NEI, Family, Economic development, Training and development, Multimedia, Student, Assembly, Life insurance

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INDIANA

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Strategic Development Commission Approves $5 Million in Early Childhood Aide, over $100,000 in Forgivable Loans
FORT WAYNE, Ind., May 1, 2024 /PRNewswire/ -- On Friday, April 26, the Northeast Indiana Strategic Development (NEI SDC) approved investments in two projects to assist working families and accelerate economic development in the region.
Northeast Indiana Early Childhood Coalition was approved for an investment of $4,999,669 to support the creation of the "Tri-Share Plus" model to address affordability and accessibility through increased financial aid for working families, while supporting the health of childcare organizations by creating a shared service model for back-office functions.
The Tri-Share Plus model splits childcare costs between the state, employer, and family, with each paying one third of the amount.
"The Northeast Indiana Strategic Development Commission is thrilled to advance these exciting initiatives with the potential to yield generational returns for our region," said Mayor Strick.

Northeast Indiana Greenlights Childcare Assistance for Working Families

Strategic Development Commission Approves $5 Million in Early Childhood Aide, over $100,000 in Forgivable Loans

FORT WAYNE, Ind., May 1, 2024 /PRNewswire/ -- On Friday, April 26, the Northeast Indiana Strategic Development (NEI SDC) approved investments in two projects to assist working families and accelerate economic development in the region.

The Goal II Committee, focused on Talent Development and Education, advanced two projects to the full NEI SDC, which voted to approve both requests as recommended by the Committee.

Northeast Indiana Early Childhood Coalition was approved for an investment of $4,999,669 to support the creation of the "Tri-Share Plus" model to address affordability and accessibility through increased financial aid for working families, while supporting the health of childcare organizations by creating a shared service model for back-office functions.
Questa Education Foundation was approved for an investment of $110,000, matching a $500,000 donation from the Don Wood Foundation, to expand its forgivable student loan program to attract students from outside of Northeast Indiana to attend college in the region and stay after graduation.

The Tri-Share Plus model splits childcare costs between the state, employer, and family, with each paying one third of the amount. For example, a family of four earning between 151% and 400% of the Federal Poverty Level will pay approximately $7,000 for childcare instead of $22,000.

Mayor Richard Strick of Huntington chairs the Goal II Committee that advanced the funding requests to the full commission for consideration.

"The Northeast Indiana Strategic Development Commission is thrilled to advance these exciting initiatives with the potential to yield generational returns for our region," said Mayor Strick. "By investing in innovative and transformational initiatives at both ends of our educational spectrum, the Strategic Development Commission is working to fulfill the challenge issued by the General Assembly when they created this body and funded our 5-year strategic plan."

All projects seeking support from the Strategic Development Commission must first submit a proposal through the project intake portal available at www.neindiana.com/sdc. Projects that satisfy a technical review are advanced to one of three committees comprised of NEI SDC members. Committees then conduct a substantive review of project proposals and may choose to advance funding requests to the full NEI SDC for discussion and approval.

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SOURCE Northeast Indiana Regional Partnership (NEI)