Companies invest $22B in Indiana this year, create 24k new jobs

By: - December 15, 2022 6:30 am

Gov. Eric Holcomb, middle, and Secretary of Commerce Brad Chambers, right, celebrate the groundbreaking of an $84 million semiconductor facility in Odon. (Photo from Holcomb’s Flickr)

The 218 companies that moved to Indiana or expanded their Hoosier activities this year committed to invest $22.2 billion in their operations and create more than 24,000 jobs, Gov. Eric Holcomb announced Wednesday.

“Indiana’s economy is firing on all cylinders,” he said in a news release. “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,” Holcomb added.

The average wage for new job commitments also rose: $34.71 hourly — 27% more than Indiana’s average hourly wage. It’s the best Indiana has done on those two fronts since the Indiana Economic Development Corporation was established in 2005, according to the news release.

Commerce Secretary Brad Chambers said the state’s initiatives were successfully attracting investments and growth in “future-looking” — and high-wage — industries involving semiconductors, electric vehicles, agriculture bioscience and more.

These efforts will pay dividends for generations to come, creating high-value, high-quality jobs in our communities,” Chambers said.

Holcomb’s office called 2022 “a sixth consecutive record-breaking year for economic development in Indiana.”

There were two measures that decreased from 2021 — number of projects and jobs. Last year there were 287 projects/companies and creation of 31,710 jobs. That is a 24% drop each.

It’s unclear whether the term-limited Holcomb will seek a new political office after he concludes his second term as governor. But he hasn’t ruled out a run for Senate. Chambers also is considering a possible run for governor, according to Politico.


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Leslie Bonilla Muñiz
Leslie Bonilla Muñiz

Leslie joins the Indiana Capital Chronicle after covering city government and urban affairs for the Indianapolis Business Journal for more than a year. She graduated from Northwestern University in March 2021, and has reported for the Chicago Tribune, Voice of America and student publications in Evanston, Illinois, Washington, D.C., and Doha, Qatar.