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Diversify our Economy

Creating a Record-Breaking Economic Environment

In Indiana, we have worked every day to create a top-ranked business climate that supports businesses both small and large, entrepreneurs and innovators, and industries of the future like life sciences, semiconductor fabrication, agbioscience, and more.

That climate? It’s breaking records — and is consistently ranked as the best in the Midwest and one of the best in the country.

At the end of his first year in office, Governor Holcomb and the Indiana Economic Development Corporation celebrated companies committing to investing $7.04 billion in Indiana. By the end of his sixth year in office, that number had jumped to $22.2 billion. In fact, every year Governor Holcomb has been in office, the IEDC has set all-time records for new investment, new payroll and wages, and new jobs. Combined, those new job numbers total over 175,000.

This success has been fueled, in part by, increased foreign investment in the state. Throughout his tenure, Governor Holcomb has taken 15 privately funded international economic development trips, pitching Indiana and our proud Hoosier workforce to the world. Today, we are home to more than 1,075 foreign-owned business establishments, representing more than 40 countries and territories.

Fast Facts

  • Indiana hit its newest private sector employment peak of 2,847,000 in July 2023.
  • Indiana was ranked the best place to start a business by Forbes in 2022, noting our combination of “low taxes, a reasonable cost of living, and a prime workforce.”
  • Indiana’s unemployment rate has consistently remained below the national rate, while our labor force participation rate has consistently remained above the national rate.
  • Indiana was ranked as a Global Top 40 Emerging Ecosystem by Startup Genome in 2022, due in part to “increasing investment in [our] innovative entrepreneurs.”