The Indiana Economic Development Corporation is a body corporate and politic (i.e., a
public-private company) in
Indiana
Indiana () is a U.S. state in the Midwestern United States. It is the 38th-largest by area and the 17th-most populous of the 50 States. Its capital and largest city is Indianapolis. Indiana was admitted to the United States as the 19th s ...
that focuses on encouraging business to set up shop or expand their existing operations within the state with
tax benefit
A tax is a compulsory financial charge or some other type of levy imposed on a taxpayer (an individual or legal entity) by a governmental organization in order to fund government spending and various public expenditures (regional, local, or n ...
s, grants, and other incentives authorized by the state.
When
Mitch Daniels
Mitchell Elias Daniels Jr. (born April 7, 1949) is an American academic administrator, businessman, author, and retired politician. A Republican, Daniels served as the 49th governor of Indiana from 2005 to 2013. Since 2013, Daniels has been pr ...
was elected
Governor of Indiana
The governor of Indiana is the head of government of the State of Indiana. The governor is elected to a four-year term and is responsible for overseeing the day-to-day management of the functions of many agencies of the Indiana state governmen ...
, he stated his number one priority was job creation.
To achieve that goal, he created the quasi-public Indiana Economic Development Corporation (IEDC), became chairman of its board, and ordered it to “act at the speed of business, not the speed of government” to attract new jobs.
In March 2010, WTHR Indianapolis News reported that up to 40% of the jobs the corporation reported to have helped create never came to fruition, and questioned the job numbers produced by the IEDC. The news story cited changes in companies' plans as the primary reason for the failures and criticized IEDC's annual report for prematurely claiming credit for the job creation. The IEDC revised the numbers in response to the report and found that 13% of the job commitments they had received had not come to fruition.
Starting October 2013, the
Indiana Pacers of the
National Basketball Association
The National Basketball Association (NBA) is a professional basketball league in North America. The league is composed of 30 teams (29 in the United States and 1 in Canada) and is one of the major professional sports leagues in the United St ...
started to use on-court advertising for the company during Pacers home games.
References
External linksIEDCIEDC Business Site Selection Data
{{Indiana government
Economy of Indiana
State departments of economic development in the United States