Former Gov. Mitch Daniels' Newsroom

Contact: Jane Jankowski
Phone: 317/232-1622

For Immediate Release: Feb 9, 2005
Governor Daniels signs economic development bill into law

INDIANAPOLIS (February 9, 2005) ? The new platform for the state?s economic development efforts, the Indiana Economic Development Corporation, officially became law at a signing ceremony today in the governor?s office.

The corporation is patterned after successful public-private partnerships adopted by several other states and will operate with more speed and flexibility in attracting and retaining businesses.

?I?m extremely grateful for the Legislature?s speed and diligence in working together to pass this bill. It?s a very important step as we work toward economic recovery,? said Governor Daniels. ?Many legislators have worked across party lines to make this day happen.?

President Pro Tempore Robert Garton, R-Columbus, and Speaker of the House Brian Bosma, R-Indianapolis, joined Governor Daniels and Lieutenant Governor Becky Skillman at the signing with House co-authors Randy Borror, R-Fort Wayne; Scott Reske, D-Pendleton; Tim Harris, R-Marion, and Troy Woodruff, R-Vincennes. Senator Joe Zakas, R-South Bend, a co-sponsor of the bill, also attended. Senator David Ford, R-Hartford City, the Senate sponsor of the measure was unable to participate in the bill signing.

?This is a major change in the way we administer our economic development programs, and it will enhance our ability to grow the state?s economy,? said Garton. ?The governor now is in charge of our economic development efforts, and this bill is one of many structural changes designed to improve our ability to recruit and retain jobs in Indiana. There will be more structural changes in state government in the next four months than in the last 40 years.?

?I am very pleased that the IEDC is moving forward at a quickened pace to begin the effort to improve our economic outlook and attract more employers to Indiana,? said Bosma. ?The attention paid to this bill at the onset of our legislative session shows our commitment to every Hoosier to create better quality and better paying jobs.?

A 12-member board, chaired by Governor Daniels, will oversee the Indiana Economic Development Corporation (IEDC). This group will set a vision and goals for the state and use assets and resources in a coordinated way to push for economic development.

Secretary of Commerce Pat Miller, who attended the bill signing, will serve in a cabinet-level capacity and will be dedicated to business development. By creating an entity and staff that are focused solely on assisting existing Indiana companies, nurturing new companies, and attracting companies located outside of the United States, the IEDC has the ability to focus its economic development efforts more precisely than the Department of Commerce.

?We send a great message to the rest of the country and the world that we are serious about doing business. We will be more competitive in the economic development environment, we?ll be more connected to private sector resources and we?ll move with speed to take advantage of and create opportunities,? said Daniels. ?With the IEDC, we will achieve better results for Hoosiers by raising incomes, creating jobs and providing a higher return on investments for Hoosier tax dollars.?

The House gave final legislative approval Monday, 86-6, to concur with changes made to the bill in the Senate. The Senate approved the bill 46-3.

The IEDC will give Indiana the opportunity to be successful with its economic development efforts by streamlining of its operations and focusing much more narrowly on economic development. With this in mind, the Office of Community Assistance, Energy and Recycling Office, Office of Tourism and several other incentive-based programs have been transferred from the now defunct Department of Commerce and placed under the direction of Lt. Gov. Skillman.


Office of the Governor media contact: Jane Jankowski, 317/232-1622
IEDC media contact: Angela Thomas, 317/232-0165