Greater Lafayette Details 'Exceptional' Growth

Posted: Updated:

Greater Lafayette Commerce says companies in the area made more capital investments in the first eight months of 2013 than all of last year. The organization reports the $768 million in investments this year has been driven by industrial growth, including a $450 million expansion at Subaru of Indiana Automotive Inc. and a $40 million project at Heartland Automotive LLC. You can see the report by clicking here and selecting "Economic Trends - September 2013."

October 7, 2013

News Release

Lafayette, Ind. -- With $768 million in capital investments of at least $100,000 each made through August 31 this year—$122 million more than all of 2012, Greater Lafayette Commerce reports that a focus on growth and community is paying dividends.

"We are seeing exceptional growth in industry, more than $500 million even before Heartland announced its second expansion this year, and healthy increases in other sectors, from real estate developments to medical facilities and education," said Jody Hamilton, director of economic development.

Besides Heartland, industry investments include Nanshan, Subaru of Indiana, TKO Graphix, voestalpine Rotec, and the Alcoa plant, announced last year.

"With the pending opening of MatchBOX Coworking Studio, the community will soon have three such facilities, including The Anvil at Purdue and Braincube," Hamilton said. "What do those bode for our future? Many more success stories."

Among the other tallies: Six new banking facilities, 19 new retailers and 12 new restaurants have opened already this year, and about a half-dozen significant real estate developments are under way.

The growth goes hand-in-hand with several community initiatives led by Greater Lafayette Commerce, including the Advancing Manufacturing training and jobs program and the Community of Choice plan to move from good to great.

"Businesses, government and residents are all working together to assure our community's economic health as well as a great quality of life," Hamilton said. "Stay tuned. We have more announcements coming before the year is over."

The Mid-year 2013 Economic Trends, which details the news by sector, is available under the "Economic and Community Development" tab at www.greaterlafayettecommerce.com.

About Greater Lafayette Commerce. Headquartered at 337 Columbia St. in Lafayette, Greater Lafayette Commerce (www.greaterlafayettecommerce.com), whose roots go back more than 85 years, is a nonprofit membership organization supported by local businesses, industries and governments. Its mission is to advance economic and community prosperity for a superior quality of life.

Source: Greater Lafayette Commerce