IEDC reports another record-setting year for job commitments

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The state’s lead economic development agency on Tuesday said that it has already surpassed last year’s annual record for job commitments.

The Indiana Economic Development Corp. said it has received commitments for 30,710 jobs so far in 2018, compared with 30,158 last year and 27,620 in 2012.

The results were scheduled to be announced Tuesday afternoon during a joint public meeting of the board of directors of the IEDC and Indiana Economic Development Foundation Inc. at Grand Park in Westfield.

The IEDC said it has received commitments from 316 businesses so far this year who plan to invest $6.75 billion to locate or expand in Indiana.

The 13-year-old agency received 293 commitments last year for a planned investment of $7.04 billion.

The average wages pledged for the jobs committed in 2018 is $26.86 an hour, about 25 percent above the state average wage.

The IEDC said 45 business commitments have come from foreign companies in 2018, compared with 40 last year and 36 in 2016. This year’s commitments from foreign companies involves 6,420 jobs and a $3.15 billion investment commitment.

The IEDC said it plans to update the jobs numbers at the end of the year.

Commitments represent pledges to create jobs, typically in return for tax incentives and training grants. Not all commitments turn into actual jobs.

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