Michiana’s greatest media hoax of the post-mortgage crisis is shaping up to be the death of South Bend. The city of South Bend was once placed alongside Elkhart as one of the poster children for the recession’s hardships. In recent articles, large media leaders such as Newsweek, and even some local outlets have tried to paint the town as a fatality of the recession.
Yes, the city has undergone some major changes since 2008. The collapse of the RV industry was certainly no help. The city’s unemployment rate spiked at 12.3%, and foreclosure rates were edging toward 3% of homes in the area at the height of the crisis. Both numbers are well above the national averages–at their peak–for unemployment (9.8%) and foreclosure rates (1.8%). But these numbers, though dire, are no need to write the city of South Bend’s obituary just yet. In fact, doing so may just lead to more than a little “egg on the face,” as the saying goes, when the city recovers, and recover it will. Here are only few of the many reasons why South Bend is not down for the count just yet:
New Business
Yes, the RV and automotive industries were large contributors to the economy in the South Bend area prior to their unexpected collapse in 2008 and 2009. The town was dealt a significant blow, but was not crippled for good. In fact, the bustling service industries have already done much to pick up the slack, as the manufacturing industry is slowly coming back to life, and many would say that the down time was time well spent. In 2011, South Bend will welcome:
- South Bend Gear LLC, a joint venture of Schafer Gearworks, Inc (a South Bend native) and Italian company Somaschini S.p.A. The new company will employ many people making gears for heavy-duty trucks.
- The Career Academy Charter School will open in August 2011 creating new jobs for teachers and a new opportunity for middle school teens to learn using “a career-vocationally based curriculum” (something that was said to be lacking in South Bend).
- McCormick & Company, the spice and sauce maker, has announced an expansion in 2011 that will bring new positions and new product brands to their current South Bend facility.
- Indiana University and University of Notre Dame will collaborate on a new cancer center opening in April. The 55,000 square foot facility is being created from a $10 million donation from ConAgra Foods’ former CEO Charles M. Harper.
These are a handful of examples that illustrate South Bend’s continued appeal to new business. Had the town really been in a tailspin, these businesses and others would have quickly reconsidered the millions of dollars needed to build or expand in an allegedly dying city.
Incoming Funding
In 2011, the city of South Bend will receive $310,000 in grant funds to hire firefighters for the city. This money comes from Assistance to Firefighters Grant created in 2010. That’s not the only funding. The U.S. Housing and Urban Development Agency or HUD will receive $36, 748 to aid families in need and the organizations that aid those families. Such investments are being made in a town that is recovering from the recession, not dying as a result of it.
Dropping Stats
The numbers speak for themselves.
Indicators predict that the unemployment rate will go down from its peak in 2009 to 9.8 % when adjusted for seasonal job losses. This will be the first time since the recession that the city is under double-digit unemployment, even when surrounding cities like Elkhart are still struggling.
Analysts project South Bend to have lower costs of living and doing business than around 82% of cities in America.These numbers have improved from 2009, but have been consistently lower than most other cities in the U.S. throughout the recession.
The city that boasts seven movie theaters, over 1,000 restaurants, and 28 libraries in a 15 mile radius is far from dying out. In fact, the city of South Bend is poised for a rebound, with the help of new industry, new funding, and citizens who realize that their hometown’s swan song has yet to be sung.
Sometimes the hometown bank can suit your needs better than the national branch. However, many small business owners will disagree, stating that community banks are more conservative lenders and less likely to loan to a new business. On the contrary, community banks like 
When involved with a local bank, your banker has most likely considered similar projects in and around your area. Therefore, a local bank like Mutual Bank has funded many other projects within the community. Thus, they have an interest in seeing not only your business flourish, but also that it contributes to the betterment of the community as a whole. Another bonus feature is that your bank can point you in the right direction for resources that your small business may need.
The scenic Michiana beaches, parks and public landmarks are opening for the summer season. This means many positions in park maintenance, housekeeping, concessions, hosting and even retail positions will be opening. In addition to these, look for some unexpected jobs that many Indiana and Michigan area cities and counties need to fill for the summer season.
