Indiana Gov. Holcomb Touts Record Growth, Eyes More

INDIANAPOLIS — Gov. Eric Holcomb wanted to make sure to mention that Indiana saw more than $22 billion in new capital invested into Hoosiers businesses this year in a one-on-one interview earlier this month, according to a report by Steve Garbacz at Greater Fort Wayne Business Weekly.

That was a new record, crushing the previous record set in 2021 when businesses invested $8.7 billion in the state. And with two years to go in his second and final term as governor, Holcomb wants more. In an end-of-year interview with KPC Media via Zoom, economic development remains front-of-mind for Holcomb and his staff.

“We had a record year this year, over $22 billion in new capital investments,” Holcomb slipped in while answering an opening question about his thoughts on the forthcoming state budget and how to best use the $6 billion tax surplus the state has been generating. “I want to have an even better year next year, but we’re going to have to have the tools to secure those.”

It wasn’t just a by-the-way mention crammed in where it didn’t belong, as Holcomb explains that what the state is funding now is going to set the growth pattern not only for his last two years in office but also for whoever succeeds him in 2025.

Indiana is increasing funding for its READI regional grant program — which has already brought $50 million to northeast Indiana — as well as continuing to make investments in job training programs, career pathways in K-12 education and, hopefully, making new investments into the state’s public health system.

“It sets up beyond the next two years,” Holcomb said.

But what about rural Indiana? The 2020 Census showed that about half of Indiana’s counties saw negative population growth over a decade, while many more rural communities saw little growth. Suburban and urban areas are booming, by comparison.

Northeast Indiana’s $50 million READI program is for a multi-county region, but Fort Wayne and Allen County projects have soaked up about two-thirds of the available funds.

A question posed — is Indiana making the investments where they’re most needed or is the benefit going to the communities that are already thriving?

Programs like READI were designed to be flexible and to let localities figure out what and where they wanted to make the investment, Holcomb explains.

“It is locally constructed and determined. The region be it 11 counties or three counties, so we want to be very mindful at the state and not come in and say ‘Your region is going to be the top four counties in northeast Indiana,’” he said. “We want to make sure the integrity of the region is determined by whatever the region self-selects itself.”

See the complete Greater Fort Wayne Business Weekly report here.

Source: https://rvbusiness.com/indiana-gov-holcomb-touts-record-growth-eyes-more/