Indiana to consider incentives to attract $3.2 billion plant
INDIANAPOLIS (WISH) – An Indiana government panel will meet Friday to consider incentives to bring a new manufacturing facility worth more than $3 billion to the state.
The State Budget Committee’s agenda for its August 4 meeting includes a request for $120 million in performance-based incentives from the Indiana Economic Development Corporation (IEDC).
The IEDC request says the incentives would go for an “advanced manufacturing project” but does not specifically name the company or the location in Indiana.
The request does suggest the “state-of-the-art facility” would be an investment of $3.2 billion and create nearly 1,400 “high-wage, future focused jobs.”
The $120 million in incentives would be spread over multiple years and be based on project performance including investment, job creation and wage metrics.
While the company is not publicly named in the proposal, the numbers are similar to a project announced June 13 by Gov. Eric Holcomb.
General Motors and Samsung SDI announced plans that day to build an EV battery cell plant just east of New Carlisle in St. Joseph County.
Holcomb said the plant would bring an investment of more than $3 billion and 1,700 manufacturing jobs.
“I couldn’t be more excited to again see GM alongside one of Indiana’s newest world class companies, Samsung SDI, take this giant leap and make this $3 billion commitment that will transform the automotive industry aided by our proud Hoosier workforce,” Gov. Holcomb said in a statement on June 13. “This historic investment is further proof that Indiana has turned it up and shifted into a higher gear when it comes to helping create the future of mobility and more customer options out on the open road.”
Production at the EV battery plant is scheduled to begin in 2026.
A spokesperson for the IEDC would not comment on any potential projects before incentive packages are approved by the corporation board.