City awarded $1.2 million to address Speedway flooding
Still time to register for Global Leadership Summit, Aug. 4-5
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EDA awards $1.2 million ARP grant to City of Kokomo
The Economic Development Administration (EDA) announced this week that it is awarding a $1.2 million grant, funded by the American Rescue Plan, to the City of Kokomo for infrastructure upgrades to address flooding in the area adjacent to the historic Kokomo Speedway. The grant is funded under EDA’s $240 million competitive American Rescue Plan (ARP) Travel, Tourism, and Outdoor Recreation program.
The project will mitigate flooding issues that have disrupted events at the Kokomo Speedway for years and will impact tourism-related businesses around the Speedway. The EDA investment will be matched with approximately $383,300 in local funds and is expected to create 50 jobs, retain 113 jobs and generate $2.85 million in private investment, according to grantee estimates.
Kokomo Mayor Tyler Moore said the benefits of the grant will be felt well beyond the Kokomo Speedway.
“The immediate impact of this grant will be the major benefits these infrastructure improvements will provide along North Davis Road,” said Moore. “This project will not only boost local tourism but stands to create additional investment and jobs and become a driver in economic development in the area.”
Flooding issues at the Speedway result in several cancellations every year. Unfortunately, those lost opportunities plus the recent pandemic-related event cancellations devastated the local economy that relies on Speedway events as a major source of revenue.
Reece O’Connor, one of the Kokomo Speedway owners, said resolving the ongoing flooding issues will be essential to the historic racetrack’s success.
“These improvements will make a huge difference for our facility and our workers,” O’Connor said. “When we have to postpone or cancel an event, it impacts not just our business but the surrounding community businesses that benefit from the fans that travel to Kokomo for racing.”
The project will construct and install an urban drainage system and sanitary sewer service along Davis Road, north of Morgan Street. Work should begin in 2023.
Global Leadership Summit this week
The Global Leadership Summit takes place Aug. 4-5, and it is not too late to get tickets to the event.
Leadership is a universal skill. Every organization, business, and governmental unit needs it. Without strong leaders, success is an uphill battle. Indiana Wesleyan University hopes to change that for Kokomo. It is partnering with Crossroads Community Church to bring the Global Leadership Summit to the local community.
The Summit is an international event, bringing together specialists in leadership to facilitate learning and new perspectives in the hope that participants are able to “increase engagement, improve productivity, and experience growth” in their organizations.
“We are super excited to have been selected as one of the simulcast sites,” said Liz Kerns, director of venture development at the IWU Kokomo Thriving Center. “We would like to welcome the community to join us for the GLS Summit. It is one of the most world-renowned global leadership conferences.
“It brings together people from across the world for authentic leadership in a local community approach. Being able to bring it to Kokomo after not being here for a number of years is so exciting. And to have a venue like Crossroads and opportunities to supplement the conference with local engagements is great.”
This year’s “faculty” boasts decades of leadership experience. Heading up the two-day event is Bob Iger, former CEO and Executive Chairman of The Walt Disney Co. He is joined by: Ron Howard, film director and actor; Lynsi Snyder, owner and president of In-N-Out Burger; Deb Liu, president and CEO of Ancestry; best-selling author and New York Times best-seller Jon Acuff; and many others.
Locally, IWU National and Global Chancellor Eileen Hulme will give a welcoming address.
Registration for the Summit is open now. To register, visit globalleadership.org/Summit. The cost is $229.