(INDIANAPOLIS) -- Turning old into new and revitalizing crucial entryways into the city have helped Valparaiso earn recognition as the Indiana Chamber of Commerce's 2009 Community of the Year.

Since 2004, strategic public planning and execution - in conjunction with significant private partnership - has resulted in:

• Forty million dollars in public investment, including more than $32 million in state and federal grants
• Nearly $700 million in private investment, creating an additional 1,500 to 2,000 jobs
• Redevelopment of a five-block downtown area and two key corridors leading into the city, primarily through refurbishing existing structures and infrastructure improvements
• No new taxes; in fact, the city has a substantial Rainy Day fund

Valparaiso's diverse economic base, including the planned additions of two major medical facilities and the presence of a number of other health care related businesses, has assisted in the recent growth. Education remains a strong factor, from the local school district to a $40 million Ivy Tech Community College campus and the longstanding and vital contributions of Valparaiso University.

"Mayor Jon Costas and other community and business leaders have emphasized infrastructure improvements and taken advantage of the many benefits of working closely together," states Indiana Chamber President Kevin Brinegar.  "Valparaiso is not only a regional destination in Northwest Indiana, but a shining example for all through the state about what can be accomplished through proactive leadership and action."

The Community of the Year award will be presented during the Indiana Chamber's 20th Annual Awards Dinner on November 10 at the Indiana Convention Center in downtown Indianapolis. The 2009 Business Leader of the Year and Government Leader of the Year recipients will be announced at that time.

More than 1,200 business, political and community leaders are expected to attend. The Capitol Steps, a Washington, D.C. musical comedy troupe that turns everyday politics into humor, will provide the entertainment. Tables of 10 and individual tickets are available for the reception (5 p.m. EDT) and dinner (6:30 p.m. EDT). Reservations can be made at (800) 824-6885 or at www.indianachamber.com/specialevents.

Media interested in covering the event should contact Rebecca Patrick at (317) 264-6897.

Past Community of the Year recipients:

2008: Noblesville
2007: Anderson
2006: Evansville
2005: LaPorte
2004: Muncie
2003: Warsaw
2002: Marion
2001: Greater Lafayette
2000: Jeffersonville
1999: Fort Wayne
1998: Rochester
1997: Batesville
1996: Elkhart
1995: Indianapolis
1994: Kendallville
1993: St. Joseph County
1992: Columbus
1991: Muncie
1990: Bluffton
 
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The Indiana Chamber of Commerce has been the state's largest broad-based business advocacy organization for over 85 years.  The more than 5,000 member companies employ 800,000 Hoosier workers.