SYRACUSE – At the Syracuse Community Center, Kosciusko Leadership Academy cadets received an overview of economics in Kosciusko County.
Dr. John Teevan presented an overview of the history and current state of economics in Kosciusko County.
Teevan said, “It was originally the railroad that put this county on the map” when it arrived in 1859.
He mentioned a number of businesses that came down from Chicago, including Dalton Foundry, Da-Lite Screen, R.R. Donnelley and Arnolt.
The economic growth in Kosciusko County has followed what Teevan described as the economic pyramid of growth, moving from an agriculture- and textile-based economy, through manufacturing, and into an education-, technology- and knowledge-based economy. Teeven said that a continued focus on research and development, finance and medical services, which are at the top of the pyramid, is the key to continued economic success.
Rob Parker, president and CEO of the Chamber of Commerce and executive director of the Warsaw Community Development Corp., presented on the chamber’s mission and impact of local business on the economy.
The chamber works through four areas of impact – growth (economic development and member benefits), inspire (business counseling and innovative guest speakers), voice (advocacy and public policy) and engage (networking and collaboration). Parker cited a median income of $54,500 ($4,000 above Indiana average), a crime rate only one-third of the national average, and an “’unprecedented” low unemployment rate of 2.9 percent as of November as evidence of a strong economy.
Livability is another strength of Kosciusko County, with 4.2 percent of the county being lakes, 180 miles of bikeways, and quality education options, but the chamber is always trying to improve livability and has potential projects such as a courthouse plaza, rotary park, cycle track and an ice rink that could further increase the draw of working in Kosciusko County.
Additionally, Lake City Bank President David Findlay presented on macro-economics with a banking focus. Findlay made the case for local banking because of banks’ local management and commitment, banks knowing their communities and clients, driving local growth, and their link to communities’ history.
There are less than 6,000 banks today, down from over 17,000 in 1984. Lake City Bank is one of many local banks in Kosciusko County, and was started in 1872. Lake City Bank has since expanded to Winona Lake in 1965, Elkhart in 1990, Fort Wayne in 1999 and Indianapolis in 2011.
Findlay also stressed the importance of banking in four areas: 1) Banks recycle money through taking deposits and making loans; 2) Savers want safety and assurance; 3) Borrowers are buying things and investing in capital projects; and 4) Buying activity creates economic growth.
For more information about KLA, visit kosciuskoleadership.org.
