The year is off to a strong start for economic development, as Indiana is touting a record quarter for capital investment.
The Indiana Economic Development Corp., formerly the Indiana Department of Commerce, said it secured $20.68 billion in pledges for future business investment across the state in future years, the most in its 20-year history.
“This is a significant time in Indiana’s history,” Gov. Eric Holcomb said. “Decades from now, we’ll look back on these years as a critical turning point that transformed Indiana’s future, cultivating the growth of future industries and creating high-paying, in-demand career opportunities for Hoosiers for generations to come. We are proud to share that Indiana has secured another $20.68 billion in committed capital investment in just the last three months, and that, most importantly, this will positively impact our communities and our residents.”
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Forty-five companies pledged to open or expand in Indiana during the first quarter of 2024, the IEDC said. The companies, which are sometimes relocating, promised to create 5,158 new jobs with an average wage of $33.79 an hour.
That’s more than $70,000 a year or 20% higher than the state’s average wage and roughly the same as the national average wage.
Indiana is on pace to have its third straight record year for capital investment. The $20.68 billion companies already pledged this year equals 72% of the record $28.7 billion capital investment promised last year.
The Hoosier State landed $71.57 billion in capital investment in 2022 and 2023 from companies like Canadian Solar, Eli Lilly, ENTEK, StarPlus Energy and General Motors and Samsung SDI, which plans a massive battery factory in New Carlisle just east of LaPorte county.
“Indiana’s strategic focus on creating the economy we want is working,” Secretary of Commerce David Rosenberg said. “In partnership with Gov. Holcomb and the Indiana General Assembly, we’ve created a more competitive environment in Indiana, attracting once-in-a-generation investments from companies that will be at the forefront of the future economy. This historic economic momentum will bring new life to our communities – both urban and rural — and create more quality career opportunities for current and future Hoosiers, ensuring all residents can prosper and succeed.”
Beer Geeks, one of the Region’s first, most beloved and most influential craft beer bars, closed after more than a decade and is being reimagined as a new concept.
The landmark 88-year-old castle-shaped White Castle in Whiting is coming down to be replaced with a newer, larger, more modern White Castle restaurant.
A longtime staple in downtown Crown Point poured its last drink.
The longtime Westforth Sports gun shop is closing.
The Silver Line Building Products plant at 16801 Exchange Ave. will be shuttered permanently.
Brewfest in Highland will close in what’s been called “an end of an era.”
David’s Bridal filed for bankruptcy and could close all stores if no buyer emerges to save it.
The 88-year-old Whiting White Castle will be remembered with displays at museums in two different states.
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For years, the “millionaire’s club” met every morning in the corner booth of the historic 88-year-old White Castle at Indianapolis Boulevard and 119th Street in downtown Whiting. The landmark restaurant served its final slider Tuesday.
One of Northwest Indiana’s most popular and enduring hobby shops is looking for a buyer after the longtime owner died.
J&L This N That Consignment Shop, a popular thrift store, closed in downtown Whiting after a run of several years.
A Calumet Region institution, Calumet Fisheries on the far South Side of Chicago, is temporarily closed after failing a city health inspection.
Just days after reopening after city health inspectors shut it down, Calumet Fisheries suffered a major fire.
Pepe’s Mexican Restaurant is no mas in Valparaiso.
Beer Geeks in Highland rebranded as B-Side Bar & Lounge and then closed within a few months.
Troubled retailer Bed Bath and Beyond will permanently close its Valparaiso location as it shutters more stores nationwide as it looks to restructure and shrink its footprint to save the struggling business.
Peoples Bank has shuttered its branch in downtown Hammond.
Viking Artisan Ales will soon pour its last craft beer at its Merrillville taproom.
Old Chicago Pizza & Taproom is closing after 15 years at one of Northwest Indiana’s most prominent highway interchanges.
Walmart is closing its big-box store in Homewood.
The Chicago Auto Show, the nation’s largest auto show, returns to McCormick Place Saturday, running through Feb. 19.
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