David Frantz, dean of the IU East School of Business and Economics, represented IU East at the first meeting of the Council on Regional Engagement and Economic Development in Indianapolis, Friday, March 5.  The Council, headed by Bill Stephan, Indiana University’s vice president for engagement, was formed to address how IU can bring its resources to bear to enhance statewide economic development.

Jerry Conover, director of the Indiana Business Research Center (IBRC), previewed the IBRC’s projected outlook for the 2010 year. In the Wayne County area, overall economic output is projected to increase, but only by about 0.5 percent. While projected to rise modestly throughout other regions in the state, average personal income in Wayne County is projected to remain flat or decrease slightly during the next year. Unemployment rates are expected to increase by 0.5 percent during this year before beginning to turn around.

Dean Frantz commented that the “outlook for much of the state appears to be favorable, but the challenges for the Eastern Indiana region remain formidable for the near future. It is even more important for us to take advantage of all the resources available within Indiana University.” The Center for Business and Economic Research at IU East will continue to explore ways that the educational resources of IU East might be deployed to assist in the economic development of the region.

Frantz is available to comment on the economic development of east central Indiana and west central Ohio. He can be reached at (765) 973-8337, or at dfrantz@iue.edu