State Details 'Historic' Economic Development Year

Posted: Updated:
The IEDC says the 28,846 new committed positions have an average hourly rate of $27.38, or $57,000 per year. The IEDC says the 28,846 new committed positions have an average hourly rate of $27.38, or $57,000 per year.
INDIANAPOLIS -

With more than a month left to go, Governor Eric Holcomb says Indiana is on its way to a record economic development year in 2017. The Indiana Economic Development Corp. says the state has secured 270 commitments from businesses planning to create nearly 29,000 jobs, the best numbers since the IEDC was established in 2005. The state says the average wage of the planned new jobs is more than 27 percent higher than the state average, also representing a record.

The IEDC says the 28,846 new committed positions have an average hourly rate of $27.38, or $57,000 per year. That tops the state's average wage of $21.52 per hour.

The largest announcements this year include:

  • India-based Infosys (NYSE: INFY), which is planning to create up to 2,000 jobs at a tech and innovation hub in Indianapolis
  • UPS (NYSE: UPS), which says it will invest more than $260 million into a new hub in Plainfield and create nearly 580 jobs
  • India-based engineering company AXISCADES, which will bring its North American headquarters to Indiana and create up to 500 jobs
  • Illinois-based HMD Trucking Inc. announcing plans to relocate to Gary and create up to 500 jobs
  • China-based BeijingWest Industries Co. Ltd. investing more than $80 million to launch a Greenfield operation and creating up to 441 jobs
  • The parent of Toyota Motor Manufacturing Indiana Inc. investing $600 million in its Princeton plant and planning 400 new jobs
  • Elkhart-based Forest River Manufacturing LLC announcing a $6.7 million expansion, with plans to add up to 425 jobs
  • Indianapolis-based Knowledge Services planning to add 400 jobs over the next to years
  • Carmel-based KAR Auction Services Inc. (NYSE: KAR) announcing a headquarters expansion, expected to create 400 jobs

The IEDC says Indiana's traditional strengths continue to perform well, with manufacturing companies planning more than $5 billion in investment and over 10,000 new jobs and logistics companies committing to more than $343 million in investment and over 2,800 jobs. The state's technology industry also continues to grow, with 58 commitments from tech and tech-enabled firms accounting for nearly 7,000 planned new jobs.

The state is also reporting strong numbers in international investment (34 companies planning to invest more than $1 billion and create up to 5,230 jobs) and small business investment (222 new business starts and 687 new jobs).

  • Perspectives

    • The Power of Partnerships

      You can't go it alone in tech. All technology companies, regardless of their segment, live in an ecosystem comprised of organisms of varying complexity. More mature companies in established categories can function at the top of the food chain, consuming smaller companies through acquisition, but startups are seldom if ever in a position to gain dominance through acquisition. It’s vital for the success of a startup to be able to play well with others...

    More

Subscribe

Name:
Company Name:
Email:
Confirm Email:
HTML
INside Edge
Morning Briefing
BigWigs & New Gigs
Life Sciences Indiana
Indiana Connections
INPower
Subscribe
Unsubscribe

Events



  • Most Popular Stories

    • Liberty Mutual Plans 400 New Carmel Jobs

      Boston-based Liberty Mutual Group Inc. is planning to add up to 400 Carmel jobs as part of a $14 million expansion plan. The insurance company has a global presence and currently employs 1,430 in central Indiana. The Indiana Economic Development Corp. says the new jobs, expected to be created by 2021, will pay more than the state and Hamilton County average wages. Plans call for Liberty Mutual to lease...

    • Kroger Hires Eric Halvorson

      A former longtime Indianapolis television anchor and reporter has been hired by The Kroger Co. (NYSE: KR). Eric Halvorson, who left WISH-TV last year after 33 years, will serve as public affairs manager and media spokesman for the company's Central Division. He succeeds John Elliott, who will become the chief executive officer of Gleaners Food Bank in Indianapolis later this year.

    • Vincennes Woman Sentenced For Tax Fraud

      U.S. District Judge Richard Young has sentenced a Vincennes woman to four years in prison on tax fraud charges. U.S. Attorney Josh Minkler's office says Deborah Richards pleaded guilty to preparing more than 350 false tax returns between 2014 and 2017. 

    • Indiana Packers Subsidiary to Build Feed Mill Near Peru

      A subsidiary of Delphi-based Indiana Packers Corp. has announced plans to build its first feed-mill facility near Peru. The Kokomo Tribune reports OP Nutrition will invest $24 million to construct the facility, which is expected to create 14 jobs.

    • To Meet Today's Health Care Needs, Close The Nursing Shortage

      Cultivating and attracting talent has rightly been top-of-mind for Hoosier business leaders of late - particularly as graduation season comes to a close. After all, addressing talent gap - or nurturing key talent pipelines - in key segments of our economy is essential. But as we prioritize the attraction and retention of Central Indiana's technology leaders, engineers and digital champions, healthcare must also be top of mind.