Nearly 10 years ago, I published an article in The Indiana Policy Review (“Backgrounder: Regional Cities Plans,” Jan. 1, 2016) describing some of the issues related to Indiana’s plan to institute a Regional Development Authority to fund what were deemed to be multicounty economic development projects.

The concerns expressed in that article focused on the massive increase in government-funded economic development activity that would be incentivized by state injections of capital.

Legislation that year created the mechanism for the Indiana Economic Development Corporation to transform itself from an organization that held conferences and advertised the state’s pro-business bona fides to companies all over the globe to a “sovereign wealth fund” of sorts, using taxpayer money to place bets o

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