Fresh off two of the largest economic development deals in state history, Governor Eric Holcomb says Indiana is on pace to shatter capital investment records. Through five months of 2022, the Indiana Economic Development Corp. says total capital investment from planned projects is approaching $15 billion. For all of 2021, it was $8.7 billion.
“It is at an unprecedented level coming into the state of Indiana,” said Holcomb. “We don’t just have traction, we’ve got serious momentum going forward. The key will continue to be to make sure that we have the workforce skilled up to fill these careers, because success attracts success.”
Holcomb talked about the state’s economic development efforts on a special edition of Inside INdiana Business with Gerry Dick from the inaugural Indiana Global Economic Summit.
Last week was one of the biggest weeks for economic development deals in memory.
First, global automotive giant Stellantis announced plans for a joint venture with Samsung SDI to produce electric vehicle batteries in Kokomo. The new plant is expected to result in a $2.5 billion investment and 1,400 new jobs. Stellantis says the investment could ultimately grow to $3.5 billion.
The following day, Eli Lilly and Company announced plans to build two manufacturing plants in Boone County, a $2,1 billion investment that is expected to create up to 500 jobs.
Also last week, United Kingdom-based McLaren Racing announced plans to invest more than $25 million to build a new INDYCAR facility in Whitestown. The company says the project will create up to 175 jobs by the end of 2025.