Indiana Reports Fifth Consecutive Record-Breaking Year for Economic Development
Gov. Eric Holcomb and Secretary of Commerce Brad Chambers announced the end of a fifth consecutive record-breaking year for economic development in Indiana.
Nearly 300 companies committed to locate and expand in the Hoosier State, investing more than $8.7 billion in their operations – a 56 percent increase from 2020 – with an increasing average wage of $28.49 per hour. This marks the highest capital investment and annual record for average wages since the Indiana Economic Development Corporation (IEDC) was established in 2005.
“IEDC’s success is vitally important in revitalizing and connecting our communities,” said Gov. Holcomb. “By strengthening our economy, reskilling our workforce, and building up and out infrastructure network, we are simultaneously enhancing our quality of place and life.”
In December, Sec. Chambers presented his strategic plan, called “the 5 Es,” with the goal of taking a more targeted and future-focused approach to business growth and talent attraction and retention. The 5E goals are centered around five pillars supporting Indiana’s next generation economy: environment, economy of the future, entrepreneurship, energy transition and telling Indiana’s story through external engagement.
“I have never been more optimistic about the economic future of our great state as we enter 2022,” said Sec. Chambers. “Indiana is winning in innumerable ways. Governor Holcomb and I are passionate about running faster and aiming even higher to create an economy of the future that serves all Hoosiers.”
