Valparaiso Economic Development Corporation plans for the future at its growth and development luncheon

Master plan proposals was one of the trending topics of discussion at Aberdeen Manor on Wednesday, October 28, where the Valparaiso Economic Development Corporation (VEDC) hosted its growth and development luncheon. The focus was on future-proofing the city of Valparaiso, ushering in new projects and new opportunities in the vibrant, ever-growing Midwest college town.

The VEDC, along with local partners, investors, and community members, is charging forward to new opportunities, new businesses, housing, and more jobs, all shaping the future of the city.

The mission of the VEDC is to drive growth and attract new investment while supporting existing businesses, creating jobs, and enhancing the quality of life for the city’s residents.

Jon Schmaltz, chair of the VEDC, offered opening remarks, thanking event sponsor Comcast and the VEDC’s investors before introducing the development presentation and all the new ideas coming to the city.

Big-picture investments are well underway, and the track record is clear. In the first 10 months of 2026 alone, the city recorded more than $105 million in new residential, commercial, and industrial investment, bringing the total to more than $826 million over the past decade. The city is changing before residents’ eyes, building new and improved infrastructure and mapping out industrial spaces to invite industry in – all with the public in mind.

Other massive additions to the Valparaiso landscape have come in the form of a medical boom, increased capacity for hospitality and tourism, and transformed city parks and green spaces.

With millions of dollars coming into the city, the scale of these projects calls for more support. Wednesday was an effort to engage the audience and, hopefully, encourage new faces to consider Valparaiso as a place to do business.

Grounding those ideas were George Douglas, director of development for the city of Valparaiso, and Vanessa Lynch, executive vice president of the Valparaiso Chamber and the VEDC. Their outlook was upbeat and positive, and their discussion generated both buzz and progress.

Douglas noted that the old economic development playbook has been turned on its head.

“Economic development used to be kind of flip-flopped, where the businesses would come and residents would follow for the opportunities, and now it’s different,” Douglas said. “Now, it’s the quality of the place driving residents.”

People are choosing Valparaiso. The city has approved just over 150 acres for residential development since 2025, and it grows at about 1% to 1.5% a year, a pace Douglas called good, sustainable growth. Attainable housing projects are also moving forward through the city’s Redevelopment Commission.

To keep that growth on track, the city expects to adopt its new comprehensive plan by the end of the year. A 12 to 18 month rewrite of its development standards will follow, updating the rules for newer uses, such as data centers.

“If the infrastructure is not laid, or if the plans are not done, that can backfire,” Douglas said. “We are really trying to be thoughtful and plan accordingly.”

That thinking shaped the East Side Master Plan, which covers more than 400 acres along State Road 49. Much of the green space will go to the Parks Department, and the city will let private development lead rather than flood the market with its own land. The residents also played a real role in getting the plan right.

“When they came out with the first couple renditions, they didn’t go over so well, right? And that’s okay, because that’s what we’re here to do,” Lynch said. “We really tried to include the community on what they were looking for.”

The interest is already pouring in, and while the University of Chicago purchased a 46,000-square-foot medical building that had sat vacant for five years, it shows promise. Lynch views this boom as an opportunity for local careers for residents and soon to be graduates. The nursing program from Valparaiso University and Ivy Tech Community College gives people an opportunity to find a career within the city.

“There really is this kind of symbiotic relationship between the university and the city. We both support and need each other,” said Eric Johnson, VEDC treasurer and longtime Valpo resident. “The city administration and city council have really thought strategically about how they want to grow. They’re not growing just to grow. As they think about growth, about new development and all the housing – everything that impacts us as we try to recruit faculty and staff to come and work at Valparaiso.”

The Parks Department also wrapped up a $10 million reinvestment in legacy parks recently. Next in line is a roughly $30 million recreation project at the long-vacant McGill factory site, which the Redevelopment Commission acquired in 2025. The site’s first building dates to 1905, and environmental cleanup and budget realities may mean the project is built in phases.

The site someday hopes to host an indoor recreational facility for Valparaiso residents, but still has obstacles to overcome.

One of the larger headlines of the afternoon was Pratt Industries, the city’s largest employer with about 600 workers. Pratt’s annexation into the city became effective the day of the luncheon. The company plans a new building of roughly 330,000 square feet, a project of about $110 million. It will add about 63 jobs and is expected to be operational by the end of next year, making it the second-largest project in city history.

“We want to keep all of our great businesses here and help them expand if possible,” Lynch said. “That’s the number one thing, is retention.”

Mayor Jon Costas was happy to voice his support for the VEDC and all the promising opportunities the city stands to gain through the team’s dedication to partnership and growth.

“The Valparaiso Economic Development Corporation is a joint venture between the city and the Chamber of Commerce, where we tout the benefits of growing your business in Valparaiso,” Costas said. “We’re trying to strengthen our business community and to grow it so that it provides opportunities for jobs, for a good tax base, and for the kind of shopping experience that people love to have here in Valparaiso.”

Not only are big industries a part of this growth and development plan, but the next generation as well.

“The Chamber has lots of events that help young entrepreneurs to engage in the community, to grow their business, to connect with one another,” Costas said. “Our chamber does it better than the vast majority of smaller city chambers.”

A large portion of that support comes from industries and organizations that have long made their home in the city. Pratt Industries is one, with its new expansion. Valparaiso University is another, with its higher education ties and its yearly influx of visitors, students, and alumni.

Katie Eaton, VEDC vice chair and public affairs manager for NIPSCO, closed the program by inviting guests to become VEDC investors. She also honored the retiring Rex Richards for his years of work building Valparaiso’s foundation.

“Behind every development, every business expansion, there is new opportunity, and the people who believe in this community and are willing to invest in its future,” Eaton said.

Johnson, Mayor Costas, and the entire VEDC committee are shaping the future for Valparaiso residents, and they have plenty of partners in bringing that mission to the public: Journeyman, NIPSCO, Valparaiso University, Franciscan, and Powers Health, to name a few. Still, the need is greater. The drive for sustainable growth and more opportunity is what builds those relationships and support is what brings those opportunities to the public.

To learn more about the VEDC’s mission, and to discover why Valparaiso is the perfect place to be, visit valpoedc.com.