Press release from the Indiana Economic Development Corporation:
State Tops 23,000 Projected Private Sector Jobs in 2010
(INDIANAPOLIS, December 29, 2010) – The Indiana Economic Development Corporation announced today that in 2010 it worked with 200 companies from across the country and around the world that project to create more than 23,000 new jobs in Indiana, an increase from 19,955 in 2009 and more than any other year on record.
“This year’s record results are a testament to the dedication of people throughout the state working hard to make sure that Indiana is the most competitive location in the world for business and we look forward to spreading our state’s message broadly in 2011,” said Mitch Roob, Secretary of Commerce and chief executive officer of the Indiana Economic Development Corporation.
Driven by companies like Dow AgroSciences, THINK North America, Cummins and Continental Structural Plastics, Indiana welcomed commitments for 23,017 new jobs and $4.38 billion in capital investment in 2010. The new jobs, many of which have already been created and others companies expect to create over the next five years, pay an average hourly wage of $23.02, above the state’s current hourly wage of $18.40.
“It is no coincidence that as Indiana continues to make job recruiting efforts top priority, the state is emerging as the nation’s economic leader, leading the country for much of the year in private sector job growth,” said Roob.
Automotive-related manufacturing represented the largest sector for new job commitments in 2010 with 7,219 new jobs projected – up from nearly 5,500 in 2009. With more than 4,100 projected new jobs, the life sciences industry represented the second largest sector of new growth, a shift from non-automotive manufacturing in 2009.
Nearly 3,000 new job commitments in the energy industry represented the third largest sector of new jobs in 2010. Job commitments for other sectors include: business services (1,760), information technology (1,671) and logistics (1,329).
The record-breaking year comes as the state’s economy gained national accolades. Area Development magazine noted in October that Indiana is the best state for business in the Midwest and sixth best in the country, and the Enterprising States study by the U.S. Chamber of Commerce and National Chamber Foundation rated Indiana fourth in the nation for its business and regulatory tax climate. Site Selection magazine ranked the state eighth in the nation for its business climate and Indiana is one of only nine states to have triple-A credit ratings from all three reporting agencies: Standard & Poor’s, Fitch and Moody’s.
Created by Governor Mitch Daniels in 2005 to replace the former Department of Commerce, the Indiana Economic Development Corporation is governed by a 12-member board chaired by Governor Daniels. Mitch Roob serves as the chief executive officer of the IEDC. For more information about IEDC, visit www.iedc.in.gov.