3 hours ago
Indiana is committing $1 billion over the next 10 years to expand agriculture and life science businesses and jobs in the central Indiana region, aiming to create 100,000 high-wage positions.
Governor Mike Braun announced the state’s new investment on Tuesday, emphasizing support for Indiana’s established industries in human therapeutics, animal health, agricultural technology, and biotechnology.
“This historic investment will empower region-led growth, bring in more jobs with higher wages, and further establish Indiana as a state for cutting-edge life sciences,” Braun said during a press conference.
None of the $1 billion has yet been allocated to specific businesses or sectors. Indiana Secretary of Commerce David Adams explained that the announcement signals Indiana’s openness to life science industries.
“We're actually planting a flag in the ground for the next 10 years that says we're committed to life sciences,” Adams said. “So on a global basis, take note, Indiana is serious about life sciences.”
Adams added that the Indiana Economic Development Corporation (IEDC) will dedicate about one-third of its resources to this initiative.
Braun noted that state resources will be awarded based on performance and the ability of industries to demonstrate they will generate high-wage jobs.
According to Adams, the IEDC will evaluate projects based on whether the jobs created pay at least 125% of the county’s average wage where the business is located.
The effort will focus on the central Indiana area, with Fishers Mayor Scott Fadness facilitating through his role as chair of the new Central Indiana Regional Development Authority (CIRDA).
CIRDA includes 10 counties: Marion, Hancock, Morgan, Johnson, Putnam, Hendricks, Boone, Hamilton, Madison, and Tipton.
This announcement continues the governor’s office and IEDC’s work on developing regional development plans statewide to promote high-wage job growth.
Fifteen regions across Indiana submitted economic growth plans, with central Indiana’s plan being the first to launch, Braun said.
Mayor Fadness highlighted the focus on expanding industries already growing in Fishers and central Indiana.
“That makes our story very compelling, because we already have the industry clusters here today,” Fadness said. “Now we're going to build out the rest of that ecosystem.”
Indiana workforce leaders have emphasized the need to expand the state’s skilled workforce in the coming years.
Last year, Ivy Tech Community College released a report stating Indiana will need to fill 82,000 skilled positions annually through 2035 to meet demand in advanced manufacturing, transportation and logistics, healthcare, and technology sectors.
Braun also highlighted collaboration with Indiana’s higher education institutions, including Purdue University and Indiana University, which have pledged support for this investment.
Major companies such as the Cook Group, Eli Lilly and Company, and Elanco Animal Health also endorsed the initiative on Tuesday.
Contact Government Reporter Caroline Beck at [email protected]
