INDIANA ECONOMIC DEVELOPMENT FOUNDATION INC
Programs
Economic Growth and Job Creation Initiative
IN 2022, THE ORGANIZATION CATALYZED HISTORIC ECONOMIC GROWTH ACROSS INDIANA, SECURING $22 BILLION IN NEW COMMITTED CAPITAL INVESTMENT A 260% INCREASE FROM 2021. THIS SUPPORTED 218 BUSINESS PROJECTS AND GENERATED 24,059 EXPECTED NEW JOBS WITH AN AVERAGE WAGE OF $34.71/HOUR, EXCEEDING THE STATE AVERAGE BY 27.6%. THESE RESULTS MARKED NEW RECORDS IN BOTH INVESTMENT AND JOB CREATION. STRATEGIC SECTOR DEVELOPMENT INCLUDED MAJOR ADVANCEMENTS IN MICROELECTRONICS, ELECTRIC VEHICLES, AND CLEAN ENERGY. SIX NEW MICROELECTRONICS INVESTMENTS WERE ANNOUNCED, INCLUDING A $1.8 BILLION SEMICONDUCTOR R&D AND PRODUCTION FACILITY BY SKYWATER TECHNOLOGY AND A NEW DESIGN CENTER BY TAIWAN-BASED MEDIATEK IN PARTNERSHIP WITH PURDUE UNIVERSITY. THE ORGANIZATION ALSO LAUNCHED WESTGATE ONE, A MICROELECTRONICS HUB IN DAVIESS COUNTY, ATTRACTING OVER $300 MILLION IN INVESTMENT AND MORE THAN 500 NEW JOBS. INDIANA'S ELECTRIC VEHICLE SECTOR EXPANDED WITH STELLANTIS AND SAMSUNG SDI'S JOINT VENTURE TO BUILD A NEXT-GEN EV BATTERY FACILITY IN KOKOMO, CREATING 1,400 JOBS. GENERAL MOTORS COMMITTED $491 MILLION TO UPGRADE ITS MARION METAL PLANT, AND SOULBRAIN MI INVESTED $75 MILLION IN LITHIUM-ION BATTERY PRODUCTION. INDIANA RANKED #4 NATIONALLY FOR NEW CLEAN ENERGY PROJECTS, WITH 5,104 MEGAWATTS UNDER DEVELOPMENT. DORAL RENEWABLES BROKE GROUND ON THE SECOND PHASE OF MAMMOTH SOLAR, SET TO BECOME THE LARGEST SOLAR INSTALLATION IN THE U.S., DELIVERING 1.3 GIGAWATTS OF CLEAN ENERGY ACROSS 13,000 ACRES. THE ORGANIZATION ALSO JOINED A SEVEN-STATE MIDWEST COALITION TO PURSUE A REGIONAL HYDROGEN HUB, ADVANCING ENERGY SECURITY AND AFFORDABILITY. THE ORGANIZATION ELEVATED INDIANA'S GLOBAL PRESENCE THROUGH THE INAUGURAL INDIANA GLOBAL ECONOMIC SUMMIT, HELD IN MAY 2022. THE SUMMIT WELCOMED 944 REGISTRANTS, 29 INTERNATIONAL DELEGATIONS, AND 75 SPEAKERS, GENERATING $1.24 MILLION IN SPONSORSHIPS AND $14.9 MILLION IN EARNED MEDIA VALUE. ADDITIONALLY, INDIANA LEADERS PARTICIPATED IN THE UNITED NATIONS CLIMATE CHANGE CONFERENCE (COP27), JOINING GLOBAL CHANGEMAKERS TO PROMOTE CLEAN ENERGY INNOVATION AND ATTRACT INTERNATIONAL INVESTMENT. THESE ACCOMPLISHMENTS POSITIONED INDIANA AS A FORWARD-LOOKING LEADER IN ADVANCED INDUSTRIES, SUSTAINABILITY, AND GLOBAL COLLABORATION DRIVING INCLUSIVE ECONOMIC GROWTH AND PREPARING THE STATE FOR THE ECONOMY OF THE FUTURE.GeographiesNot indicatedDatesJul 1, 2022 – Jun 30, 2023Source990No causes providedNo populations provided–$1.7M
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