Holcomb talks state’s business development, quality of life push
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Gov. Eric Holcomb talked about how Indiana is improving itself as a “product” for business development by bettering quality of life to retain and attract talent Friday afternoon at an Evansville Regional Economic Partnership luncheon.
The sold-out event comes as business development is piling up around the state, especially in rural and mixed-rural areas.
The Evansville region looks to capitalize on the inertia of the growing business transition and development sweeping Indiana. Major concerns statewide center on addressing the factors that skilled workers want to live and work in the state; ones many growing areas lack like available and affordable housing and amenities boosting the quality of life.
“We are deeply committed to recognizing and supporting the development of more quality of place amenities, opportunities in this region, because they generate that opportunity for us,” E-REP CEO Tara Barney said to the crowd.
E-REP, an economic development agency pushing business growth and prosperity in the southern Indiana region, hosted the event.
In 49 states it’s just basketball, but this is Indiana, so the event was staged like a basketball game. A kiss cam and cartoon character look-alike cam were featured on the arena’s big screen. The soundtrack was one consisting of “The Final Countdown,” “Get Ready” and “All I Do Is Win.”
Holcomb and local leaders were welcomed to the stage on the University of Southern Indiana’s basketball court at Screaming Eagles Arena in a manner akin to a basketball team’s starting lineup. A cloud of smoke wafted in the rafters after Evansville Mayor Lloyd Winnecke and Holcomb were introduced with smoke machines and basketballs in hand. Confetti sprinkled the floor at the event’s conclusion.
Holcomb ran through a variety of points, including the economy, infrastructure and the workforce. Those conversations largely funneled to down to fostering more attractive communities and building infrastructure to support the development that is, will and can occur.
Every business needs a skilled workforce, he said, and the state is attempting several solutions to keep and draw those workers. Holcomb spoke about bolstering the workforce through improving career opportunities beginning in middle and high school and stopping the brain drain of local university graduates leaving the state. He wants the state improve its amenities, show its competitiveness on the national stage and continue creating employment opportunities.
After the success of the Indiana Economic Development Corp.’s Regional Economic Acceleration and Development Initiative, or READI, Holcomb said the state is gearing up for round two. The first installment of the $500 million initiative ballooned into $9 billion of investments from philanthropic, corporate and government entities, the governor said; nearly half of that number is focusing on housing development.
“We can do those kinds of projects all over the state of Indiana,” Holcomb told Inside Indiana Business. “What that creates is a real need for a skilled workforce in the construction trades primarily, and the raw materials to make sure that we can accommodate that type of that type of growth.”
Holcomb talked about the READI program and what the state is doing to address building its housing stock in response to an IIB question regarding the statewide shortage.
Another $500 million was included in the most recent session budget, dubbed READI 2.0. Holcomb said the state looks forward to working as a partner with local regions to better the greater economy.
“When you think about putting those dollars to work, we have to be good stewards of those dollars,” said Curt Begle, E-REP Board Chair and president of health, hygiene & specialties for Evansville-based Berry Global Group. “We have to be thoughtful, and it’s all about how you work well with the community.”
As for creating innovation development districts, Holcomb said he was interested in doing so across the state, including Evansville. He said some tech hubs and business districts are already popping up organically around universities, where the talent already exists. It’s a matter of keeping those brains in-house.
“We got a lot of shots on goal to harness the talent that’s already in the system,” Holcomb said. “As long as there’s that direct pipeline, and these tech hubs, these innovation districts, we’ll continue to lean into that in a big way.”
When asked about his slew of recent international trips, Holcomb said Indiana is positioning itself for global growth through nabbing large investments and connecting with significant stakeholders. As businesses transition domestically and internationally, Holcomb said he wants Indiana to be on the cusp of that change.
“I don’t leave money on the table in this time of transition,” Holcomb said.
While the state continues to make strides landing major developments, he said the state won’t rest on its laurels and will continue improving. He mentioned many of the developments are happening outside Indianapolis as well and the close proximity of several industries in the state breeds innovations as a byproduct of competition.