Pence details 10-year economic plan

Staff Report

INDIANAPOLIS – Gov. Mike Pence released a 10-year plan to advance and strengthen entrepreneurship at the eighth annual Innovation Showcase in Indianapolis.

“As a state, we have worked diligently to establish a pro-growth business climate in Indiana and our efforts are being recognized across the nation,” said Pence in a statement. “We cut costs, lowered taxes and reduced regulations to allow job creators to invest in what matters most – in their businesses and in their employees. Indiana is ranked first in the Midwest for business and first in the nation for small business regulations, but we’re not done yet.”

Pence’s plan calls for $1 billion to go toward supporting education, increased opportunities for small businesses and supporting industrial advancements.

The money will come from the following organizations.

  • $500 million from the Indiana Public Retirement System
  • $300 million from the 21Fund
  • $100 million from the Venture Capitalist Investment
  • $100 million from the General Assembly

“By investing in this 21st Century infrastructure, we are assuring Indiana entrepreneurs a great starting point in the creation and growth of high potential enterprises which will ultimately drive wealth creation in the future,” said John Wechsler, entrepreneur and founder of Launch Fishers, in a statement.

The Indiana Economic Development Corporation will oversee the economic plan and will take control over the Office of Small Business and Entrepreneurship and their programs from the Lt. Gov.’s office.

“Indiana’s thought leaders, job creators and public-private partnerships are making tremendous strides in innovation and entrepreneurship today, and we hope that this commitment from the state will spark even more interest and help accelerate these efforts,” said Pence in a statement. “With a collaborative and aligned strategy, Indiana will continue to be a global leader in innovation and entrepreneurship, helping to solve tomorrow’s challenges.” a news website powered by Franklin College journalism students.

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