Indianapolis, Dec. 4 - "We are in drastic economic times, and it will take bold action to move Indiana forward." With that Governor Frank O'Bannon unveiled the Energize Indiana Plan, $1.2 billion of money to jumpstart Indiana's ailing economy.

It includes $360 million for research and development in the Indiana Growth Fund. Lt. Gov. Joe Kernan calls it "A fund that will help us take ideas into the marketplace." The money breaks down like this: $40 million for new technology centers, or tech parks $42 million for rural development $75 million for university research construction projects $200 million for education $135 million for Indiana Growth scholarships, a merit based grant making $4,000 available next fall for information technology, life science and engineering disciplines if the students work in the state upon graduation. Jim Eifert with Rose Hulman Ventures adds, "We need to be aggressive to put the infrastructure in place. Even if the times are not terrific we've got to make those investments now." Nearly $400 million are also earmarked for 21st Century scholarships, skills and jobs assessments, unemployment benefit extensions and insurance. Governor O'Bannon says, "It is our commitment to fire up our state's economy. And it does not use one state tax dollar." So what does it use? It borrows $692 million from future tobacco settlement dollars, $195 million from the tobacco trust fund, $160 million from Reed Act funds, $100 million from Indiana's Port Commission and $100 million from PERF and TRF. Republicans say creating jobs is good, borrowing from the tobacco funding is questionable. "Scrutinizing those funds at a deep discount, getting 30 to 40 cents on the dollar, that does give one pause," says Rep. Brian Bosma (R - Indianapolis). It's the plan the administration is taking into the upcoming legislative session. The plan does not effect any tobacco settlement health programs already in place, but it also doesn't address the state's $800 million budget deficit.

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