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Republican gubernatorial candidate Jim Wallace has announced his economic plan. Wallace says right-to-work legislation is a step in the right direction, but he says his “ground up” plan is what the state needs. The plan includes his Project 500, which includes a list of needs around the state that he says hinder economic growth.
Wallace says he would work with the General Assembly to allocate up to $500 million of available state surplus to the projects. He says he also wants to use, and expand, the edge credit, which provides $10 million annually to employers that create jobs in the state.
“It‘s our intention to work with the state legislature to expand that edge credit, tax positive revenue credit and target the greatest engine of job growth, small and medium-sized businesses,” he says.
Wallace says he would also like expand on the state’s battery manufacturing and coal extraction to help the economy.
“We have 57 billion tons of coal in southwestern Indiana and with clean coal technology that represents over 50 years of annual U.S. coal demand,” he says. “We can lead the way to energy independence not only for Indiana, but the nation by getting the coal out of the ground and getting it to market.”
Wallace faces U.S. Representative Mike Pence in the Republican primary.