Seymour has expanded the boundaries of its only certified tech park to generate funding for the Jackson County Learning Center.
Four years ago, the city was granted the tech park designation by the state as a result of the Cummins Engine Hedgehog project, said Jim Plump, executive director of Jackson County Industrial Development Corp.
A tech park allows the city to receive money from both sales tax and income tax revenue generated within the park, similar to how a tax increment finance district uses property tax revenue.
By state law, the money captured must be reinvested on fixed assets in the tech park, such as buildings, equipment and infrastructure.
The city had to submit the boundaries of the park to determine where the money could be spent, Plump said. Money was used to help put in a new parking lot, landscaping, sidewalk, road repaving and other improvements around Cummins on East Fourth Street.
Read the full story in Thursday’s Tribune and online at tribtown.com.