Former Gov. Mitch Daniels' Newsroom

Contact: Weston Sedgwick
Phone: 317 232-8873

For Immediate Release: Apr 25, 2006
Accelerating Growth?State unveils strategic economic development plan

INDIANAPOLIS (April 25, 2006)?The Indiana Economic Development Corporation today unveiled a bold strategic economic development plan geared toward growing Indiana?s economy and Hoosier incomes. Accelerating Growth features initiatives that focus on innovation, talent and investment to revamp the state?s economy for the 21st Century.

?It?s obvious we didn?t wait for a plan to get into action. The IEDC has already racked up wins,? said Governor Mitch Daniels. ?Any plan is only as good as its execution, but it reflects the best thinking of the best business minds in the state, and we?ll use it to provide a framework to revive economic vitality.?

The plan?s vision: Meet the national average in per capita income and average annual wages by 2020. It identifies three key themes to achieve those goals ? becoming a national leader for innovation and entrepreneurship, providing Hoosier workers with skills to meet the needs of the industries of the future, and becoming one of the most investment friendly states in the country.

Accelerating Growth also recognizes that economic growth and competitive advantage occur at the regional level, rather than at the state or local levels. Indiana is not a single economy but rather a collection of regional economies with different strengths and resources that are potential drivers of economic growth.

?While we have first and foremost focused our efforts during our first 15 months on aggressively seeking new job creating investments for our state, the new statewide economic development plan provides a framework for creating the conditions necessary to bring about economic prosperity for our state and will help in bringing about many more successes for our state,? said Indiana Secretary of Commerce and Indiana Economic Development Corporation President Michael S. Maurer.

This year, the IEDC has landed 57 competitive projects that bring with them commitments to create 7,228 new jobs and approximately $1.3 billion in private capital investment, almost doubling the job commitment and investment numbers from this time last year. Recent announcements include 1,000 new Toyota jobs in Lafayette, 450 new Pfizer jobs in Terre Haute, 700 new Sallie Mae jobs in Muncie, 500 new Sysco jobs in Hamlet, and 85 new Louis Dreyfus jobs and the world?s largest biodiesel facility in the world in Claypool.

The successful development and implementation of the plan requires close collaboration among state, regional and local public institutions, as well as the support of leaders from the civic, business and academic communities. This collaboration was at the forefront of the planning process.

The Indiana Economic Development Corporation engaged more than 600 decision-makers from around the state representing a wide range of stakeholders in Indiana?s economic future and incorporated their feedback into the statewide strategic plan. While many of the plan?s initiatives are already underway, an interagency implementation team established by the Governor is working to coordinate the actions of state agencies to support the goals and objectives of the plan.

?Our conversations with regional economic development organizations and community leaders will continue as we work to implement many important initiatives included in the Accelerating Growth plan,? said Nathan Feltman, IEDC executive vice president.

A PDF version of the plan is available online at

About IEDC
As a result of legislation passed by the Indiana General Assembly in 2005, the Indiana Economic Development Corporation has replaced the Department of Commerce as the premier entity charged with state economic development. The IEDC has a 12-member board chaired by Gov. Mitch Daniels. For more information about IEDC, visit


Media Contact:
IEDC, Weston Sedgwick, 317/232-8873,