Indiana’s New Economic Strategy Drives Higher Wages with Less Spending

STATEWIDE — Indiana is taking a fresh approach to the economic development, focusing on wage growth, regional opportunities, and supporting existing businesses, according to Governor Mike Braun and his administration.

The state is not only seeing promising results but is also emphasizing transparency and fiscal responsibility.

Governor Braun highlighted a “new approach to economic development” that broadens the scope beyond solely attracting large corporations. This strategy, spearheaded by the Indiana Economic Development Corporation (IEDC), prioritizes businesses already invested in the state and aims to upscale the current workforce through initiatives like the “Power Up” program.

“Since January, the average wage of new Hoosier jobs incentivized by the IEDC has increased from $36 to $41,” Braun said. “That’s quite a jump.” He further emphasized the state’s improved efficiency, adding, “This week last year we were spending $53,000 per incentivized job, getting a wage of $36.77. Now we’re investing $16,000 per job.” This signifies a more productive and innovative use of taxpayer dollars, with a clear focus on maximum return on investment.

Indiana Press Secretary Molly Deuberry acknowledged ongoing safety concerns in Indianapolis, but she affirmed the state’s economic resilience.

“Indiana is well positioned to weather any storms, no matter what it may be,” she said, attributing this stability to the IEDC’s renewed focus on prioritizing small businesses.

Deuberry also provided an optimistic outlook on Hoosier earnings, confirming that wage growth is outpacing inflation.

“I think we’re doing better than inflation,” she said. “We’re at 10% increase for the average new wage that’s brought in, right…” She concluded by emphasizing the administration’s fiscal prudence, noting the state is “managing prudently and living within its means,” ensuring that new jobs with great wages continue to strengthen families and communities across Indiana.