Indiana’s secretary of commerce says foreign investment is a key factor in the state setting another record for economic development in 2018. Jim Schellinger says he’s been on 21 overseas trips to 17 countries over the last year, selling Indiana to international companies looking to locate or grow in the United States. The Indiana Economic Development Corp. says, in 2018, 47 foreign-owned businesses committed to locating or growing in Indiana, planning $3.2 billion in investment and more than 6,500 jobs.
Some of this year’s biggest international announcements include India-based Infosys announcing an Indianapolis tech and innovation hub and committing to 2,000 jobs, Switzerland-based dormakaba expanding its Indianapolis operations and adding 100 jobs, Japan-based NTN Driveshaft’s $90 million expansion in Columbus and Israel-based Omen USA expanding manufacturing operations in Richmond and adding up to 200 jobs. In all, the IEDC says Indiana is home to more than 950 foreign-owned operations supporting 193,000 Hoosier jobs.
Overall in 2018, the state says it secured 320 national and international commitments from companies in 2018, including more than $7.3 billion in investment and over 31,000 new job commitments, setting a record for the second consecutive year. Schellinger tells Inside INdiana Business he expects the state to set another record in 2019.