The city's one of six Indiana communities looking to get the grant this year. City officials say if they win, it will help bring in more businesses and residents.
"We have a lot of good jobs, a lot of good industries and businesses here," said Mayor John Tucker. "But almost 52 percent of the people that travel here everyday to work don't live in Mt. Vernon, don't even live in Posey County."
Officials say this is their third attempt at getting the stellar grant. Princeton won the grant recently.