IEDC Chalks Up a Record-Breaker
The state is reporting a record year for job commitments and the Indiana Economic Development Corp. says plans totaling 30,158 new jobs are heavily driven by one industry typically tied to the state and another that's rapidly gaining ground. Manufacturing, Indiana's traditional economic bread-and-butter, continued to lead the way in expected job commitments with 10,885. Job commitments in technology -- driven in large part by a 2,000-job announcement from India-based Infosys in Indianapolis and 400 jobs from Knowledge Services in Fishers -- rose year-over-year to more than 7,600.
During our (i) on Economic Development segment on Inside INdiana Business with Gerry Dick, Indianapolis-based KSM Location Advisors Chief Executive Officer Tim Cook and President Katie Culp discussed what's driving the big numbers and the challenges the state faces. Cook and Culp highlighted some spots in the state -- central, northeast and southeast Indiana -- that were key to the jobs surge. This weekend's edition of the show will focus on Fort Wayne, a city Cook says is continuing to make progress economically.
Governor Eric Holcomb said diversification has been key. "from home-grown small businesses to international Fortune 500 companies, organizations of all sizes are choosing to invest in Indiana because of our best-in-the Midwest job climate and a Hoosier workforce that's second to none. Of course, records were made to be broken, and we will continue our work to take Indiana to the next level in 2018, ensuring the Hoosier state is the very best place to start a business, grow a business, and get a job."
The planned new positions are expected to pay, on average, $27.20 per hour, the equivalent of more than $56,500 annually, which is also a record. Other sectors driving the performance include agribusiness, which recorded 19 expansions or locations totaling more than $3.2 billion in planned investment, creating up to 2,114 jobs, and logistics, which tallied commitments of more than $377 million that could lead to as many as 2,945 jobs.
In a November interview on Inside INdiana Business with Gerry Dick, IEDC President Jim Schellinger discussed the importance of workforce when it comes to attracting and retaining investment.