Putnam County Economic Development Partnership Fund Awards First Three Grants

Putnam County Economic Development Partnership Fund Awards First Three Grants

April 5, 2005

April 5, 2005, Greencastle, Ind. - Three Putnam County businesses are the first-ever recipients of grants totaling $35,000 -- with a possibility of a total sum of $65,000 -- from the Putnam County Economic Development Partnership Fund (PCEDPF). The initiative, announced in September 2004 and administered by DePauw University, is designed to stimulate the economy and create jobs in Putnam County and provide unique and enriching internship opportunities for DePauw students.

The development grants for 2005 are:

  • $20,000 to Aviation Core Matrix to launch a new business in Putnam County that will provide online training, certification, and career services for airline mechanics and related enterprises.
  • $10,000 to Liberty Industries to develop and implement a new enterprise resource management and customer management system designed to drive new business growth.
  • $5,000 to The Game Preserve, Inc. to launch an eCommerce iniative that will allow the company to sell its products online as well as create a new e-commerce position within the firm. If the resulting position is filled by a DePauw graduate, the Partnership Fund would contribute two-thirds of the salary for ther first two years -- a total of $30,000 -- which would bring the total grant to $35,000.

"The first round of development fund proposals was exceptionally strong," says Dennis A. Trinkle, associate vice president for academic affairs and chief information officer at DePauw, who oversees the PCEDP. "DePauw is pleased to be able to support new businesses and ventures that will add jobs and grow the economy in Putnam County. Given the changing nature of the Indiana economy, Putnam County needs innovators. The Economic Development Partnership Fund provides important assistance to those entrepreneurs willing to grow their enterprises here."

All of the businesses agree to provide DePauw with progress reports every six months and to provide internship and/or post-graduate opportunities for the University's graduates.

Through the Putnam County Economic Development Partnership Fund, DePauw will provide matching seed funds up to a maximum of $20,000 per year, as well as in-kind services and resources, to support various economic development projects in Putnam County that connect to internship and educational opportunities for DePauw students. The initiative is funded by a $750,000 grant awarded to the University in 2003 by Lilly Endowment (read more here) as part of an effort to reduce the "brain drain" in Indiana and encourage more college graduates to remain and work in the state.

Businesses interested in applying for a future grant can pick up an application at the Greencastle/Putnam County Economic Development Center, 2 South Jackson Street, and at DePauw's 361° Office located in the Percy Lavon Julian Science & Mathematics Center (room 131), 602 South College Avenue. The application, more information about the Putnam County Economic Development Partnership Fund, and a description of the Opportunity through Collaboration program are also available online by clicking here.