Linebarger: Indiana ‘Fights Above Its Weight’
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowColumbus-based Cummins Inc. (NYSE: CMI) Chief Executive Officer Tom Linebarger says Indiana is fighting “above its weight” when attempting to attract economic development to the state. Linebarger was a panelist during last week’s inaugural Indiana Global Economic Summit at the Indiana Convention Center in downtown Indianapolis. “We’re doing better than our size, and we have a lot of opportunity left to go,” Linebarger said.
Linebarger discussed the summit and Indiana’s efforts to attract new investment in an interview on Inside INdiana Business with Gerry Dick.
“I think by investing more in the education of our students, investing more in our environment, we can attract and retain the most talented people,” he said. “But already, I think we’ve got kind of all sectors of the economy working on trying to create these opportunities. The governor continually reaches out and says ‘hey, can you help me bring more companies in?'”
Last month, Governor Eric Holcomb traveled to Switzerland to take part the World Economic Forum annual meeting and offer a message of Indiana’s role in the global economy. Linebarger credits Holcomb and the Indiana Economic Development Corp. for trying to find ways to bring thought leaders and changemakers together.
“Its a tough time,” says Linebarger. “There’s a lot of things challenging us, there’s a lot of things dividing us, but making the state better – developing the state – is one thing we can all agree on. I think they’ve done a great job of bringing people from all over to create more opportunities for people in Indiana.”
Last week saw several major economic development announcements, including automotive manufacturer Stellantis’ $2.5 billion plans for a joint venture with Samsung SDI, which involves a new facility in Kokomo to produce electric vehicle batteries.
“Long-term investors in the state, cutting-edge of their industries, investing in the things that matter for the future,” said Linebarger. “I know if I was looking at Indiana, I’d be really encouraged. We have a lot of investments like that left to make. Batteries, electrification, biological drugs, there’s a lot of these technologies advancing quickly.
Indianapolis-based Eli Lilly and Co. (NYSE: LLY) also announced $2.1 billion plans to build two manufacturing plants in Boone County, an investment that is expected to create up to 500 jobs. Additionally, United Kingdom-based McLaren Racing plans to invest more than $25 million to build a new INDYCAR facility in Whitestown.
“I think in a lot of states, they wouldn’t ask my opinion about how to bring more companies in, or they wouldn’t involve the nonprofits,” said Linebarger. “They wouldn’t get everyone in the game, and this state does a really good job of fighting above its weight by getting everybody involved and creating opportunity.”