Elkhart Mayor Tim Neese‘s State of the City speech Thursday evening was heavily focused on the city’s economic and residential growth plan for the next few years…

Neese says the city has one of the state’s “strongest reserve balances,” and is in a prime position to see growth in both business and population, according to ABC 57.

The mayor says with a budget this year of approximately $61.5 million dollars, it’s time for the city to take the steps necessary to attract additional development opportunities.

He added that the planned $94 million investment anticipated in the city’s River District along East Jackson Boulevard, is “a great first step and is positioning the city to be a front runner for development.”

Neese also seeks to create a Business Advisory Council to assist with key economic development decisions, and also addressed a number of other issues during the speech, including public safety and annexation.