Between Memorial Day and the Indy 500, it’s been a crazy couple of weeks for the Hoosier state! Republican leadership in the General Assembly and the Governor's office have been able to build a business environment in Indiana that has been able to attract record investments and job opportunities that will continue to propel our economy forward.
Keep in mind what these new announcements mean for communities across the state. There are real benefits behind these numbers that allow Hoosier families to thrive in Indiana. These investments mean more jobs, higher wages, and more opportunities for all Hoosiers.
Below are some of the major announcements that have happened in Indiana over the last couple of weeks.
The South Shore Line Double Track Project
Northwest Indiana is booming! The transformative Double Track project, which was on time and under budget, and $950 million West Lake Corridor initiative will inject $2.7 billion in private investment, create over 6,000 jobs, and significantly reduce travel times with 18 miles of new track and 14 additional weekday trains. This investment will further revitalize the region and attract new businesses and residents.
Elevate Ventures Growth Stage Fund
Governor Holcomb announced the Elevate Ventures Growth Fund, a new $100M initiative targeting high-potential, growth-stage companies with a $500M+ market. Anchored by a $25M investment from Elevate Ventures, with an additional $75M to be raised privately, this fund aims to propel Indiana's venture capital scene, following the state's record-breaking $1 billion venture activity in 2021-2022. This strategic investment will drive innovation, create high-paying jobs, and foster a robust entrepreneurial ecosystem in Indiana.
Purdue-Elanco Research Facility
The OneHealth Innovation District partnership between Purdue University and Elanco Animal Health will create new jobs, boost local economies, and improve public health through cutting-edge research. This collaboration enhances educational opportunities for students and researchers, preparing them for advanced careers in biosciences and related fields.
Eli Lilly’s Additional $5.3 Billion Investment
Governor Holcomb and Eli Lilly announced a $5.3 billion expansion, doubling Lilly's investment in the LEAP Research and Innovation District to $9 billion. This expansion will enhance Lilly's capacity to manufacture active pharmaceutical ingredients for diabetes and obesity medicines, creating 200 new high-skilled jobs and bringing the total planned new jobs at LEAP to 900. The investment solidifies Indiana's position as a hub for global innovation, leveraging state-of-the-art technology and creating significant economic growth and job opportunities for Hoosiers.
These announcements are just a few more examples of how Republican leadership has made Indiana one of the best states in the country to live, work, and play. Investments and projects such as these give Hoosiers more opportunities, build more wealth, and transform communities.
