Indiana Gov. Eric J. Holcomb on Thursday announced the end of a fourth consecutive, record-breaking year for economic development in Indiana, with the Indiana Economic Development Corp. (IEDC) securing 282 commitments from companies to locate or grow in the state.
According to the IEDC, together, these businesses plan to invest more than $5.6 billion in their Indiana operations and create up to 31,300 new Hoosier jobs with average wages of $28.13/hour. This reportedly marks the highest annual record for new job commitments and the second-highest annual record for average wages since the corporation was established in 2005.
“Despite being an incredibly challenging year for Hoosier businesses in many different ways, I’m extremely encouraged and inspired by the perseverance of our business community,” said Holcomb. “Achieving another record-breaking year for economic development in 2020 shows us that Indiana is on the right track and that better times are ahead for Hoosiers, with more than 31,000 new career opportunities over the next few years.”
These 31,300 new positions are expected to offer average wages of roughly $58,510 annually, which is above the U.S. average wage and 22 percent higher than the state’s average wage of $23.01/hour (BLS, 2018). Moreover, of the 282 commitments made, 186 have committed average wages at or above the county average wage, and 65 are between 80-99 percent of the county average wage.
Businesses announcing the largest growth commitments, based on the number of new jobs or capital investment planned, in 2020 included Barletta Boat Company, with 250 committed jobs in Elkhart County, and Forest River, with 369 total committed jobs in DeKalb and LaGrange counties.
The IEDC, in partnership with local communities, also secured 78 commitments from businesses in 2020 that will establish new operations in Indiana, including General RV Center in Elkhart.
