Despite Pandemic, Indiana Doing Jobs Deals
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowWhile the pandemic has prompted delays in some economic development projects, Indiana Secretary of Commerce Jim Schellinger says 2020 is on pace to be a record year. Numbers just released from the state show year-to-date commitments for nearly 26,000 jobs and $4.8 billion in capital investment over the next three to five years.
“We have had some companies that have put certain things on hold because of the COVID virus…but we’re having a banner year,” said Schellinger, who adds the pipeline of projects should push the state into record territory. “All of the numbers we track, whether it be jobs, CapX (capital investment) or wages, we’re tracking in a record year.”
Schellinger talked about factors driving economic development activity in Indiana on this weekend’s edition of Inside INdiana Business with Gerry Dick.
Schellinger says 2020 economic development deals, while concentrated in the central part of the state, also have some geographic diversity.
Last week, Chicago-based Midwest Truck & Auto Parts Inc. broke ground for a new facility in Merrillville, the latest company from neighboring Illinois to set up shop across the border. The aftermarket automotive components supplier says it plans to add up to 150 jobs in the Lake County city by the end of 2024.
So far in 2020, the Indiana Economic Development Corporation’s central Indiana region has accounted for projects totaling commitments of $3 billion in capital investment and 16, 735 jobs. With 33 counties, it is by far the largest region as defined by IEDC.
The year-to-date regional breakdown of economic development deals from the IEDC includes:
- Northeast: 2,567 jobs, $335 million capital investment
- Southwest: 1,563 jobs, $919 capital investment
- Northwest: 1,971 jobs, $235 million capital investment
- Southeast: 1,492 jobs, $216 capital investment
North Central: 1,382 jobs, $131 capital investment