Holcomb: Economic development pipeline ‘stronger than it’s ever been’
INDIANAPOLIS (Inside INdiana Business) — Coming off a record year for economic development in 2019, Indiana Governor Eric Holcomb says the state is poised for another big year in 2020, with a pipeline of projects from around the globe. “When I look at our first quarter pipeline, it is stronger and fuller than it’s ever been,” said Holcomb, noting the year is off to a fast start, with major jobs announcements by Toyota Motor Manufacturing in Princeton and Fiat Chrysler Automobiles in Kokomo.
“We’re (currently) over 1,000 foreign-owned businesses, employing more than 203,000 Hoosiers,” added Holcomb, who emphasized international business recruitment will continue to be an important part of the state’s economic development strategy.
Holcomb talked about the state of the INdiana economy in an extended interview on this weekend’s edition of Inside INdiana Business with Gerry Dick.
In January, the Indiana Economic Development Corporation reported 2019 was a record year for capital investment, foreign direct investment, and startups in the Hoosier state. In its annual report, the IEDC said the state received 296 commitments from companies to locate or grow in the state and that those businesses have committed to invest more than $8.4 billion and create more than 27,000 Hoosier jobs.
According to the IEDC, the average wage of those new jobs is $28.60 per hour, which translates to an annual salary of $59,500. The IEDC says that is 21% higher than the current stage average of $23.01 per hour.