Todd Etzler, BCC Partner, was recently asked to comment for the Valparaiso Chamber of Commerce' magazine, Valparaiso Magazine, about the development climate in Porter County. Todd's responses were paraphrased in the recent 1st Quarter 2008 issue of the Valparaiso Magazine. We believe the business and economic growth of Northwest Indiana and the South Lake Shore merits a closer look. Below is the full text of Todd's responses to the questions posed by Valparaiso Magazine. These questions, comments and dialogue are equally relevant to Lake and LaPorte Counties. The questions and comments below relate to current development projects of Burke Costanza & Cuppy:
Q. Why do you think your specific projects [projects by BCC clients] are suited to this community?
Porter County is an integral part of Northwest Indiana. Many of the developers and commercial clients we work with do work not only in Porter County but all of Northwest and northern Indiana. As we have seen in the retail side, retailers do not look at political boundaries as obstacles. Rather, they locate new developments where the market dictates. Further, Porter County is primed to become a health care center for Northwest Indiana and Chicago. The location of Memorial Hospital along the highway 49 corridor will be instrumental for new medical industry and services locating and growing within Porter County.
Q. How does the new year look to you so far in your business?
The year 2008 looks very promising in all real estate development areas. Yes, the residential industry has felt the impact of the general economic slowdown. However, residential contractors continue to supply the needed housing for the growth that is occurring in all of Northwest Indiana. As can be seen by any success of Ameriplex at the Port, and the financing of industrial and commercial projects throughout Northwest Indiana, the future of commercial and industrial development is bright for years to come.
Q. How does the current Valpo market compare to, say, five years ago?
The diversity of development within Valparaiso has increased immensely. As seen in the projects above, the diversity is great: a new YMCA, Horizon Bank, a redevelopment retail project in Cumberland Crossing, the Memorial Hospital project, and new housing projects. This diversity is absolutely necessary. Otherwise, a community that relies too much on a single industry or becomes a bedroom community is subject to the economic downturn within that industry. Our economic diversity is our strength. Where before a single big-box retailer may locate in Valparaiso, many types of commercial services - downtown merchants, general retail, and other commercial services are seeing increased success. By providing these retail and commercial services to our city, we keep a lot of money in Valparaiso. Further, the extension of professional services, such as Memorial Hospital, will stimulate additional economic growth to Valparaiso and Porter County, in general.
