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IEDC Says Thank You


As 2012 draws to a close, Indiana is once again breaking its own record for new business growth with nearly 250 new company attractions to the Hoosier state this year. The credit for this success involves not just the IEDC and our partner agencies, but all of you for your willingness and dedication to witness Indiana's message of fiscal strength and stability to your colleagues outside the state. Indiana's ability to work together as a family of agencies and individuals to arrive at long-term solutions that improve our economy and quality of life is unmatched, and is without a doubt our most precious commodity.

The progress we've made in the past eight years is an incredibly powerful legacy to pass on to the next administration and the next generation of Hoosiers. These gains came about in small, daily increments that aren't always noticeable as they occur, but if we look at them as a whole, it becomes eminently clear that the hard work and perseverance that so many of you have shown these past eight years has culminated in something truly spectacular.

Since 2005 the IEDC has made thousands of new business contacts and concluded successful negotiations with over 1,400 companies, with a total projection of more than 160,000 new Hoosier jobs and over $33 billion in private sector investment. Some companies actually produce more jobs and some less than their projections, but since Indiana's incentives are performance-based, you can rest assured that those incentive dollars are only spent when new jobs are created. As a result, we strive to monitor performance for 100% of all companies with which we engage in performance-based incentive contracts.

Our outreach to bring new international companies to Indiana has also been strong. In the past eight years we have completed successful negotiations with over 200 foreign companies from over 40 countries in nearly a dozen different languages, resulting in a total Hoosier job projection of more than 29,000 and over $10 billion in private sector investment. With all our foreign negotiations, whether they came to Indiana or not, we have sought to leave only the best impression of the Hoosier state.

Since 2005 Indiana's 21st Century Fund has reviewed over 1,100 applications and provided financial support to over 100 innovative new start-up companies, with nearly 80 percent of them still growing in the Hoosier state today. Bringing innovation to the marketplace is crucial to our success for creating the jobs of tomorrow.

Those are just a few examples of what we've accomplished together these past eight years. As in business, it was never perfect, predictable or without a few innocent mistakes, some my own, but it was always about building a stronger future for Indiana and creating more careers for Hoosiers. Another chapter closes this year, and a great one at that. But there is much more to the Indiana story, and much more to be done.

From all of us at the IEDC, thank you for your support, assistance and your precious investment of time, treasure and talent in Indiana. It's an incredible example of a state and its citizens working together to build a brighter future, and yet another reason it's great to be a Hoosier.

Daniel J. Hasler

Indiana Secretary of Commerce

 

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