IEDC Details Jobs, Growth in 2016
The state says it committed funding to 74 high-potential companies in 2016.
The Indiana Economic Development Corp. says job commitments announced throughout the state in 2016 have the highest average wage of any year since it was established in 2005. In all, 227 companies detailed location or expansion plans this year that involve nearly $3.7 billion in investment and 20,320 new jobs. The 2016 totals are down from last year, when the IEDC said 323 companies pledged over 26,000 new jobs from investments totaling more than $4.7 billion.
The IEDC reports average hourly wages of the planned new jobs rose again this year to $25.43, compared to $24.87 in 2015. In the final days before he heads to Washington D.C. to be the country’s next vice president, Governor Mike Pence said "since day one of my administration, job creation has been job one and today more Hoosiers are working now than ever before. Through sound policies and fiscal management, we have remained focused on creating a low-tax, low-cost, limited regulation business environment that has helped create record employment and investment in Indiana. Today, we celebrate the fact that Indiana ranks first in the Midwest and fifth in the nation for business, offering a world-class workforce and the tools needed for business growth." He also expressed his confidence that Governor-elect Eric Holcomb and his administration will continue what he called Indiana’s economic success.
The state’s unemployment rate hit a 15-year low at 4.2 percent earlier this month. IEDC President Jim Schellinger, who has been tapped by Holcomb to be the next Indiana secretary of commerce, says "our state’s strong economy has allowed the IEDC to be laser focused on helping companies create high-wage Hoosier jobs by strategically focusing on advanced, skilled industries that offer future growth opportunities in every corner of the state. Today more Hoosiers are working than ever before, and with the IEDC’s strategic focus, Hoosiers are working for steadily rising wages." He adds "as Indiana enters its third century, we will continue these efforts and, in sync with the Indiana Regional Cities Initiative and the Innovation and Entrepreneurship Initiative, together we will take Indiana to the next level and ensure that quality employment opportunities are available for all Hoosiers."
The IEDC says industries including aviation and defense, cybersecurity, life sciences and technology are all experiencing "unprecedented" growth, while Indiana’s traditional industry stalwarts – the manufacturing, agribusiness and logistics sectors – are also on the rise.
This year’s jobs announcements with the largest planned job totals were:
- Salesforce (NYSE: CM), which announced plans in May to locate a regional headquarters in downtown Indianapolis, adding up to 800 Hoosier jobs by 2021 and rebrand the state’s tallest building, Chase Tower, as Salesforce Tower Indianapolis.
- Allied Solutions LLC detailed plans to establish a headquarters and expand its presence in Carmel by investing $33 million and creating 600 jobs by 2025.
- In September, Indianapolis-based MOBI Wireless Management LLC announced $11.5 million plans to boost its footprint in Zionsville and add more than 520 jobs over the next three years.
- Republic Services Inc. (NYSE: RSG) plans to establish a customer resource center in Fishers, bringing a $13.6 million investment and up to 469 jobs to central Indiana by 2025.
- Arizona-based Knight Transportation (NYSE: KNX) is committing to a $4.6 million investment that could lead to 426 jobs at a new Regional Operations Center in Plainfield by 2021.
You can connect to more about 2016 from the IEDC by clicking here.