Indianapolis, Suburbs form Regional Development Authority

INDIANAPOLIS (AP) _ Indianapolis is joining Carmel, Westfield and Greenwood in an economic development group that will seek millions of dollars in state grants.

The Indianapolis Business Journal reports ( ) the Indianapolis City-County Council voted Monday to partner with the three suburban cities to form a regional development authority that would apply for state funds through the Regional Cities Initiative. The new program allows the Indiana Economic Development Corp. to award grants or loans to regional groups for projects that could help attract new businesses and residents. Legislators allocated $84 million for the program over the next two years.