Indiana Economic Development Corporation

A trucking company moving from Illinois to Indiana is the latest of dozens of companies that have made that switch in recent years.

It’s a boon to struggling northwest Indiana economies that Indiana officials say is thanks to their state’s business-friendly tax and regulatory structure.

The Indiana Economic Development Corporation says at least 55 companies have moved some or all of their business from Illinois to Indiana in the past two years. They say that will create more than 5,500 jobs and $610 million in investment.

Layoffs began Thursday at the Carrier factory in Indianapolis, where last year President-elect Donald Trump celebrated a deal to save jobs from moving to Mexico.

Eric Holcomb leaves Monday for his first international economic development trip as governor. He’ll spend 10 days in Hungary and France, hoping to shore up global ties for Indiana’s top-earning manufacturing and automotive industries.

Indiana is already a center of investment for countries that include Japan and Germany. But the Indiana Economic Development Corporation says the Hoosier State will be the first to create what it calls a “formal framework with Hungary” to promote business and trade development.

The Indiana Economic Development Corporation has approved $7 million in tax incentives for the Carrier company to keep about a thousand jobs in Indianapolis.

 

Carroll County will be home to a $350 million, first-of-its-kind recycling plant that will turn old plastic car parts into diesel fuel, officials announced Tuesday.

The GEP Fuel & Energy plant will employ about 250 people in Camden by 2020.

That represents about one job for every four Camden residents – something Jim Staton of the Indiana Economic Development Corporation noted at the packed factory announcement in the town’s community center.

GM

General Motors will invest $90 million to upgrade its Marion Metal Center in Grant County, the company announced Monday.

 

The money will pay for new, high-tech equipment at the 60-year-old facility where the company employs about 1,400 people, supplying metal parts for GM vehicles across North America.

 

It's the largest investment the Indiana Economic Development Corporation has announced since late May.

 

Fairlife / Ballotpedia / Egg Industry Center

Three prominent Hoosier farmers will be part of the agricultural advisory committee for the Trump-Pence campaign.

The Indiana-based co-chairs of Trump's agriculture committee represent three of the largest and most well-connected farm businesses in the state and the country.

Vanessa / https://www.flickr.com/photos/takeitez/6274465493

Walmart says it plans to build a milk processing plant in Fort Wayne -- that would employ about 200 people to the area by the end of 2017.

Those jobs will pay more than the state’s average wage of $21.55 per hour, says Abbi Gras, spokeswoman for the Indiana Economic Development Corporation.

She says it will also help Hoosier farmers, who will sell the milk to Walmart to process at the Allen County plant. Gras says this will help save on transportation costs and also allow them more options when selling.

Nic McPhee / https://www.flickr.com/photos/nicmcphee

A bill to fully fund all three winners of the Regional Cities Initiative breezed through the Senate Appropriations Committee Thursday.

The Regional Cities Initiative money comes from the 2015 tax amnesty program, and all $84 million was originally meant to be split between two regions.  This economic development program aims to encourage cooperation across city and county lines. 

courtesy GE

Governor Mike Pence announced Thursday that 2015 is a record-breaking year for economic development. 

Pence says 323 companies, up from 285 in 2014, pledged to create new jobs over the next few years.

“Those 323 companies are committing to create 26,555 new Hoosier jobs" he says, "and it represents more than 4.79 billion dollars of investment in the state of Indiana.”

That’s the highest number of companies committed to expansion in the state since the creation of the Indiana Economic Development Corporation in 2005.

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