INDIANAPOLIS – Indiana had its highest capital investment and annual record for average wages since at least 2005, the Indiana Economic Development Corporation announced.
The year 2023 delivered “unprecedented economic wins for Hoosiers,” Gov. Eric Holcomb and Secretary of Commerce David Rosenberg announced in a press release Jan. 3.
In 2023, 208 companies committed to locate or expand in Indiana, investing more than $28.7 billion (+29% from 2022) in their operations and creating 21,866 new jobs with an average wage of $36.07/hour – or approximately $75,025 annually (+3.9% from 2022 and +10.2% the national average wage). This marks the highest capital investment and annual record for average wages since the IEDC was established in 2005.
“Indiana is achieving unprecedented economic momentum that will catapult economic and community opportunities for Hoosiers for decades to come,” said Holcomb in the press release. “Our efforts to attract new investments and jobs, catalyze entrepreneurship and invest in quality of place are paying dividends – all while advancing high-tech industries to ensure that Indiana is at the center of tomorrow’s global economy.”
These economic development metrics are one component of the IEDC’s comprehensive, economic strategy designed to ensure all Hoosiers have greater opportunity to succeed. The strategic vision includes a focus on advancing economic development and industries of the future, growing entrepreneurship and innovation, investing in community development and rural areas and leaning into external engagement to share Indiana’s story and competitive advantages with the world.
“Indiana is thinking long-term and taking bold action to put Indiana at the forefront of critical innovations and to create a more prosperous future for Hoosiers,” said Rosenberg. “Our strategic, proactive approach is delivering tangible results, attracting new high-growth industries like semiconductors, electric vehicles and clean energy production to Indiana. Paired with unprecedented investments in entrepreneurship and quality of life, Hoosiers can look forward to more supportive and vibrant communities, more in-demand career opportunities and more opportunities to create generational change.”
The IEDC leads the state of Indiana’s economic development efforts, helping businesses launch, grow and locate in the state. For more information, visit iedc.in.gov.
