21-02-2025
Legislation supporting economic development in Evansville passes IN House
HENDERSON, Ky. (WEHT) – Officials say language authored by State Representative Tim O'Brien to support economic development efforts in Evansville and Vanderburgh County recently was added to the budget in House Bill 1001.
Rep. O'Brien said his legislation, previously House Bill 1451, would increase the amount of money captured from the Evansville Professional Sports and Convention Development Area (PSCDA), which would support local sports tourism.
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'This legislation ensures our community has the development tools needed to support our region, the third fastest growing in the state,' Rep. O'Brien said. 'Increasing the revenue cap allows us to invest in sports infrastructure and projects like the revitalization of the downtown riverfront, which attracts visitors from across the tri-state area and supports our local economy and industries.'
Officials say based on Evansville's population, the annual capture limit under current law is $1.17 million. The bill creates a 15-year plan for the PSCDA. It would increase the limit to $5 million for the first five years, then $6 million for the following five years and up to $7 million for the last five years. It has the potential of keeping $90 million in revenue in the Evansville area.
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Rep. O'Brien explained that this does not create a new tax but rather draws on existing funds that would otherwise go to the state in revenue form. He also said that these funds allow Evansville to pave the way for 'future opportunities' in southwest Indiana. He added this legislation would support future growth in Evansville and southwest Indiana, including plans for Great Bend Park.
Officials say House Bill 1001 passed the Ways and Means Committee before passing the full House of Representatives. It now moves to the Senate for further consideration.
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