Gov. HolcombIndiana Gov. Eric J. Holcomb has announced the end of a third consecutive, record-breaking year for economic development in Indiana, with the Indiana Economic Development Corp. (IEDC), securing 296 commitments from companies to locate or grow in the state.
Together, these businesses plan to invest more than $8.44 billion in their Indiana operations and create up to 27,137 new Hoosier jobs with average wages of $28.60 per hour – marking the highest annual records for capital investment and average wages since the IEDC was established in 2005.
“I’m excited to announce yet another record-breaking year for economic development in Indiana as we work every day to ensure that Hoosiers have the best place possible to live, work and play,” said Holcomb. “As a state, we have worked tirelessly to create a nationally ranked, pro-growth business climate, and the results have solidified Indiana’s reputation as a global destination for business, creating high-quality career opportunities for Hoosiers in the process.”
These 27,137 new positions are expected to offer average wages of $28.60 per hour, or nearly $59,500 annually, which is above the U.S. average wage and 21 percent higher than the state’s average wage of $23.01 per hour. Moreover, of the 296 commitments made, 216 have committed average wages at or above the county average wage, and 56 are between 80 to 99 percent of the county average wage.
Allison Transmission was one of those businesses announcing a large growth commitment with 300-plus jobs and $400 million investment in Marion County.
IEDC incentives offered for the 296 commitments are conditional, meaning a company must create new jobs or provide workforce training in order to be eligible to receive incentives, and are based on new payroll for Hoosiers in order to protect taxpayer money while simultaneously attracting high-wage jobs and new investment to the state.
