Indiana Economic Development Corporation meet to discuss LEAP District
INDIANAPOLIS (WISH) — The Indiana Economic Development Corporation (IEDC) and the Indiana Economic Development Foundation (IEDF) met at the NCAA Hall of Champions to highlight some of the positive economic growth happening in the state.
This meeting came after the LEAP District, one of the largest IEDC-backed projects, received criticism and pushback.
There is concern that the LEAP District in Lebanon will require too much water.
Currently, Lilly is the only company that is set to build in the LEAP District. In April, Indianapolis-based pharmaceutical giant Lilly announced a $3.7 billion project for the Boone County site. State officials called it the largest deal in the history of the IEDC.
Concerns are swirling about a lack of water to fuel the other potentially water-heavy industries this type of district attracts.
The Boone County city of Lebanon in October annexed 642 acres for the LEAP Lebanon Innovation District, which is described on the Indiana Department of Economic Development’s website as “the next location of global innovation” with “9,000+ available acres strategically situated on Indiana’s I-65 Hard Tech Corridor.”
“Water is a utility that is regulated for growth whether it be residential or commercial,” Indiana Gov. Eric Holcomb said. “And specifically to the LEAP District, not one drip or drop of water will be piped until we know what volume is needed. Not just for that region, but for a greater region throughout Indiana.”
There is an ongoing water study to determine how much water can be used for this project. Holcomb recently shifted the responsibility of the water study to the Indiana Finance Authority from the Indiana Department of Economic Development.
“We’re taking stock of our inventory, if you will, statewide and it would be premature, and we would be unable to lock in certain businesses that will require up and beyond what we know we have,” Holcomb said. “That’s the whole point of the study.”
The meeting highlighted $58 billion in potential projects that could come to the LEAP District and seven other unannounced projects across the state that are increasing jobs.
The group also highlighted above-average wages for the IEDC-backed projects across the state.
Previous Coverage