Gov. Holcomb, IEDC continue record-breaking economic momentum, secure largest committed capital investment in Q3

Governor Eric J. Holcomb and David Rosenberg, Secretary of Commerce today announced at the Indiana Economic Development Corporation’s quarterly board meeting that Indiana secured another record-breaking quarter of committed capital investment in Indiana – a total of $38.3 billion through Q3 2024. 

“Indiana continues to offer businesses the workforce and pro-growth policies they need to compete and win in today's marketplace. This new all-time record of committed capital investment in our state, just 3 quarters into the year, is happening statewide due to so many small, medium, and large businesses expanding and calling Indiana home,” said Gov. Holcomb. “It’s exciting to see so many different communities and Hoosiers alike benefit and build off this long list of new agriculture, manufacturing, life sciences, logistics, and high tech investments.”

Since 2022, the IEDC has achieved tremendous growth and success. In 2022, the IEDC smashed previous records by securing $22.2 billion in committed capital investment. And in 2023, the IEDC set yet another record with $28.7 billion in committed capital investment for the year. And so far in 2024, Indiana has secured $38.3 billion in committed capital investment. In total, since the start of 2022, Indiana has secured $89.2 billion in committed capital investment.  

Through Q3 2024, 124 companies committed to locate or expand in Indiana, investing more than $38.3 billion in their operations and creating 13,036 new jobs with an average wage of $37.31/hour – or approximately $77,604 annually. 

“For the past two years, the state’s proactive and strategic approach has led to unheard of investment in every corner of the state,” said Indiana Secretary Rosenberg. “Through these investments, we’re creating new and better career opportunities for Hoosiers. And we’re doing this in a holistic way — Indiana’s READI program is creating quality communities, our small business programs are ensuring entrepreneurs are supported, and we’re continuing to attract and retain once-in-a-lifetime business deals.” 

Indiana rolled out a new, comprehensive economic development strategy in 2021, marking an intentional shift to a more proactive organization with a focus on building a high-growth, high-tech economy of the future. In partnership with Gov. Holcomb and the Indiana General Assembly, the IEDC has made significant modernizations to the state’s economic development toolkit and committed unprecedented investments to innovation, entrepreneurship and quality of place, equipping the organization to better compete for and win large, critical industry investments.