Gov. Holcomb Announces Record-Breaking Year for Economic Development

In 2022, 218 companies committed to locate or expand in Indiana, investing more than $22.2 billion in their operations and creating 24,059 new jobs.

INDIANAPOLIS - Governor Eric J. Holcomb today announced the end of a sixth consecutive record-breaking year for economic development in Indiana. In 2022, 218 companies committed to locate or expand in Indiana, investing more than $22.2 billion in their operations and creating 24,059 new jobs.

“Indiana’s economy is firing on all cylinders,” said Gov. Holcomb. “These investments and job commitments will transform our high-tech industries and ensure that Hoosiers are at the forefront of the 21st century economy. Our strategic focus on advancing entrepreneurship, innovation and quality of place is igniting our neighborhoods and communities statewide, providing more opportunities for Hoosiers and their families to thrive.”

Capital investment commitments in 2022 grew by more than 260%, unprecedented in the state’s history. Job commitments in 2022 come with an average wage of $34.71, which is 27% more than the state’s average wage. This marks the highest capital investment and annual record for average wages since the Indiana Economic Development Corporation (IEDC) was established in 2005.

“Indiana continues to lead in building the economy of the future,” said Sec. of Commerce Brad Chambers. “Our strategic initiatives and focus are attracting first-of-their-kind investments from innovative businesses around the world while enabling growth and innovation in future-looking industries like semiconductor fabrication and design, electric vehicles and batteries, life sciences, agbiosciences and future industry. These efforts will pay dividends for generations to come, creating high-value, high-quality jobs in our communities.”

A key component of Gov. Holcomb’s economic roadmap is ensuring that Indiana is at the center of the future, global economy. The strategic vision is a focus on building an economy of the future with next-gen industry, investing in the jobs of tomorrow, retaining and attracting top talent and in creating a quality of place that provides more opportunities for all Hoosiers.