PRINCETON-—Gibson County Redevelopment Commission Monday pledged $600,000 to Ivy Tech Community College’s Princeton site over a five-year period to expand programs here.
The community college’s request for funding was approved 3-1, with board member Bruce Fisher dissenting and board member Tom Hauschild abstaining.
The board will use some of the unobligated Tax Increment Finance revenue captured within the Patoka-Union Twp. Redevelopment District to fund the request.
The money is to be matched with $2.1 million from Ivy Tech to invest in a new welding lab, expand training and degree programs in high-demand skill areas — and build a new “mechatronics” lab to offer a curriculum that combines precision mechanical engineering, electronic control, and systems thinking.
New Ivy Tech Southwest Chancellor Jonathan Weinzapfel provided the board with an outline of the college’s five-year plan for use of the money.
The redevelopment commission would commit $200,000 the first year and $100,000 each of the next four years. If the campus closes within that time, the county gets control of the equipment.
Ivy Tech also pledges $10,000 in scholarship funds at the Princeton site for students.
Ivy Tech representatives told the board the welding program is a high-demand skill for area employers, and making the program available in Gibson County brings more opportunities for the community.