Lafayette Area Touts Record-Breaking Year
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowThe director of economic development for Greater Lafayette Commerce says 2013 results were “way beyond” expectations. Jody Hamilton says the area tallied more than $1 billion in capital investment last year. February 14, 2014
News Release
LAFAYETTE, Ind. – After announcing last November that 2013 capital investments locally had already topped $1 billion, Greater Lafayette Commerce has tallied the numbers for the full year.
Successes include $1.02 billion in 79 capital investments of at least $100,000 made or announced. That figure includes more than $566 million by 11 industries, the largest in expansions at Heartland Automotive, Nanshan America Advanced Aluminum Technologies and Subaru of Indiana Automotive Inc.
Growth in other sectors included 52 new retailers and restaurants, six new banking facilities, six new commercial/multi-family developments, and 2,148 homes sold. The growth also represented about 1,300 new jobs filled or on the horizon, Hamilton said.
“Last year was beyond a record-breaking year, way beyond,” said Jody Hamilton, director of economic development. “We not only topped Marion County’s impressive $622 million in investments, we exceeded it by almost one-third.”
The community also drew the spotlight for ranking second in the state for STEM job density, with 13.6 percent of the workforce employed in science, technology, engineering and math fields.
“That tops the state's 10.9 percent average and national average of 11.9 percent, according to an Indianapolis Business Journal report,” Hamilton said. Since 2001, the community's STEM jobs have increased 70.6 percent. Columbus, Ind., home to Cummins, ranks first.
The full, 27-page Greater Lafayette Commerce Economic Trends is available at http://www.greaterlafayettecommerce.com/economic-development.
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. Activities by what is now known as its Economic Development Council began 30 years ago. Greater Lafayette Commerce's mission is to advance economic and community prosperity for a superior quality of life.
Source: Greater Lafayette Commerce