2024 Newsmaker: U.S. Sen. Todd Young
Two years after U.S. Sen. Todd Young, R-Ind., co-authored the CHIPS and Science Act, Indiana is reaping big rewards.
Economic Development
Articles
2024 Year in Review: High-tech plants drive IEDC’s record-breaking year
Two major announcements were Eli Lilly and Co.’s additional $9.8 billion investment into its LEAP Research and Innovation District campus and SK Hynix’s $3.87 billion semiconductor packaging facility at the Purdue Research Park in West Lafayette.
2024 Year in Review: Data centers flock to Indiana, draw scrutiny from consumer group
A string of Big Tech companies announced plans this year for large-scale data centers around the state, prompting pushback from a consumer advocacy group that is concerned about the amount of electricity these facilities will consume.
LEAP district developments among year’s top tech stories
The ongoing progress to develop the planned LEAP Innovation and Research District, a 9,000-acre tech park in Boone County, was among the top local tech stories of 2024.
Feds finalize deal to give SK Hynix $458M for West Lafayette facility
The chip manufacturer announced plans in April to open a 430,000-square-foot building spanning 90 acres in the second half of 2028.
State approves $60M for LEAP District development for Lilly, Meta projects
The state will eventually recoup much of that investment when LEAP land is sold to tenants, officials from the Indiana Economic Development Corp. said.
Purdue, Sports Tech HQ joining forces to help startups, create career opportunities
Purdue can offer research and technical expertise that sports tech companies may need as they develop their products. Likewise, these companies may create internships and job opportunities for Purdue students and graduates.
Holcomb, IEDC cap off year with record $39.1B in expected private investments
The investment total continues a trend of record-breaking years for the IEDC. The state has improved its annual total every year since Gov. Eric Holcomb took office (with the exception of 2020 due to the pandemic.)
IEDC requests additional $60M for Lilly, Meta land, infrastructure at LEAP
The state’s job-creation agency is seeking $27 million to purchase about 307 acres and pay for deposits and option payments for additional land west of Interstate 65. Another $33 million is being sought for infrastructure work.
National Bank of Indianapolis partners with New Direction Church on east-side effort
The National Bank of Indianapolis and New Direction Church announced a partnership that’s designed to support economic development and access to financial services along the East 38th Street corridor.
Indiana Sports Corp aims to keep Big Ten football championship in Indy
Indianapolis is set to host the conference’s big game through 2028, and Indiana Sports Corp President Patrick Talty says the city has hopes to continue beyond that time.
Indy Partnership expands reach to Bartholomew County
The regional development arm of the Indy Chamber will expand its coverage area after an agreement with the Greater Columbus Economic Development Corp., the organizations announced Friday.
Economic development overhaul gives Mayor’s Office more control
The plan is meant to streamline discussions among the city, existing businesses and companies considering Indianapolis for expansion or relocation.
Boone County prepares for development at quiet I-65 interchange
County leaders are working to create the 65/47 Economic Development Area, the first step toward spurring business and residential development.
Policy agenda, secretary pick refine Braun’s vision for economic development
The governor-elect’s plans include creating a consolidated workforce development strategy and adding a new entrepreneurship office.
Gov.-elect Braun announces leadership picks for commerce, education
David Adams, a former state workforce development commissioner, will be Indiana’s next secretary of commerce in Indiana Gov.-elect Mike Braun’s administration, while current Secretary of Education Katie Jenner will continue to lead the state’s education system.
U.S. commits to $7.54B loan for Stellantis venture to build 2 EV battery plants in Indiana
The project being built by StarPlus Energy LLC is expected to create at least 2,800 jobs at the two plants and hundreds more at a nearby park for parts-supply companies.
Rally pitch contest winner secures $5M investment as asthma test awaits approval
MyBiometry, a Massachusetts-based health technology firm that was one of five winners of the Rally IN-Prize pitch contest last year, has secured $5 million in seed funding and hired its first Indiana employees.
Speedway economic development leader to depart, join Indy DMD
Carmen Lethig held the economic development role for nine months, following more than four years as administrator of long-range planning with the city of Indianapolis.
UPDATE: Meta’s planned $800M investment in Lebanon could lead to $4.8B, mayor says
The Lebanon City Council on Monday night approved the creation of a tax-increment financing district and performance-based incentives to try to secure a deal with the parent of Facebook and Instagram.