Transcript “Government does not create jobs; it only creates the conditions that make jobs more or less likely.” Governor Mitchell E.

“Government does not create jobs; it only creates
the conditions that make jobs more or less likely.”
Governor Mitchell E. Daniels, Jr.
State of the State Address, January 18, 2005
11/5/2015
INDIANA ECONOMIC DEVELOPMENT
CORPORATION
• The IEDC is a public-private partnership governed by a 12
member board chaired by Governor Mitch Daniels.
• The IEDC is focused exclusively on economic development and
has incorporated all state entities with economic
development responsibilities.
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2011 BUSINESS
DEVELOPMENT
REGIONAL MAP
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Confidential - Draft
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BUILDING THE ‘BEST SANDBOX’
• AAA Credit Rating
• Financial Stability
• Indiana has the lowest business costs in the Midwest and is
one of the top 10 lowest cost locations in the U.S.
–
Forbes (Oct. 2010).
• Leading the Nation in Job Growth
– Per capita Indiana was 7th in the nation in private sector job growth for
2010
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Executives Rank Indiana Best
A Midwest leader and 16th nationally
Best and Worst States for Business 2010
Survey of more than 650 chief executives
CNBC Names Indiana
Top State for Business
• Fourth nationally for overall “business friendliness”
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10TH LOWEST BUSINESS COSTS
Indiana has the 10th lowest business
costs in the nation, based on labor,
energy and taxes.
Source: Forbes magazine, October 2010
Best in Midwest for Low Taxes
1st in the Midwest
and 10th nationally
Illinois (23rd), Kentucky (19th),
Michigan (17th), Ohio(46th)
October, 2010
2010 IN REVIEW
• Record Breaking Year
–
–
–
–
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200 Projects
23,017 Projected Job Commitments
$23.02 Projected Average Wage
$4.38 Billion in Projected Capital Investment
Private Sector Job Projections Year-to-Date
10,000
9,378
9,000
8,000
5,000
8,460
2010
2011
7,027
7,000
6,000
8,442
6,416
6,301
4,981
4,000
3,000
2,000
1,000
2005
2006
2007
2008
2009
•
As of 5/23/11
Private Sector Investment Projections Year-to-Date
•
As of 5/23/11
Total Competitive Projects Year-to-Date
•
As of 5/23/11
Hoosier Average Wage
•
As of 5/23/11
Low Cost of Incentives Yields Quicker Return
$40,000
$37,652
$35,000
$30,000
$25,000
$20,000
$15,000
$11,699
$11,805
$10,000
$8,469
$7,278
2007
2008
$8,701
$9,981
$10,396
2010
2011
$5,000
$0
2004
2005
2006
2009
• Direct state incentives include tax credits, training grants and infrastructure
assistance
• Tax credits are performance-based linked to IEDC certification of new jobs
• Average time of return on investment: approximately 2 years
•
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As of 5/23/11
BUSINESS INCENTIVES
• EDGE – Tax Credit for hiring; competitive
project.
• HBI – Tax Credit for investment; competitive
project.
• SEF – Training Grant; competitive and noncompetitive projects.
• IDGF – Community Grant; competitive project.
2011 LEGISLATIVE SUMMARY
• Balanced Budget
• Corporate Income Tax Reduction
 Reduced over 4 years from 8.5% to 6.5%,
beginning in 2012.
• No New Taxes
REASONS FOR SUCCESS
• Assembled experienced economic
development team
• Streamlined processes
• MARKETABLE PRODUCT
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IEDC CONTACTS
•
Chad Pittman
– Executive Vice President
– [email protected]
– 317-233-4459
•
Charlie Sparks
– Vice President
– [email protected]
– 317-233-5122
•
Mindy Kenworthy
– Central Region Director
– [email protected]
– 317-234-4088
•
Brook Steed
– Northeast Region Director
– [email protected]
– 260-436-3000
•
David Behr
– North Central Region Director
– [email protected]
– 574-288-6834
•
Trevor Lane
– Southeast Region Director
– [email protected]
– 812-346-1895
•
Jim Staton
– Northwest Region Director
– [email protected]
– 219-644-3694
•
Dorrie LoBue
– Southwest Region Director
– [email protected]
– 812-492-4415