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IEDC report shows almost $29 billion in investments during 2023

By Violet Comber-Wilen

Posted January 4, 2024

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The IEDC said these are the highest numbers reported since the agency was started in 2005. (Courtesy of the Indiana Economic Development Corporation)

The Indiana Economic Development Corporation recently released a report showing it had nearly $29 billion in investments during 2023 – up 29 percent from 2022.

This investment comes from 208 companies committed to moving to or expanding within Indiana. These investments expect to create more than 21,000 jobs with an average wage of $36.07 or $75,025 annually.

The IEDC said these are the highest numbers reported since the agency was started in 2005.

The organization also said there are several contributors to these successes in 2023. In a press release, the IEDC said increased global investment, talent attraction and retention efforts, supporting entrepreneurs, investing in rural communities and securing three federal tech hub designations have helped the state’s economy grow.

Despite reporting the uptick in investments, the organization is still facing public scrutiny for several ventures — including the organization’s proposed LEAP project.

The project would involve building a large industrial district in Lebanon. It has been an area of contention among lawmakers due to sustainability concerns and the need to potentially create a pipeline of water from the Wabash Alluvial aquifer near Lafayette.

The IEDC is also a quasi-governmental agency, meaning they are not always required to share as much information or abide by the same transparency standards other governmental agencies have to.

Violet is our daily news reporter. Contact her at vcomberwilen@wfyi.org or follow her on Twitter at @ComberWilen.