McCormick releases ‘balanced’ economic development plan

Submitted by McCormick for Governor

Indiana Democratic gubernatorial nominee Jennifer McCormick announced on Thursday her Balanced Economic Development Strategy and Commonsense Economic Development Plan, marking a significant shift in Indiana’s economic development approach.

The Balanced Economic Development Strategy prioritizes recruiting and retaining people in Indiana while building on the business-friendly policies Indiana has previously implemented. This strategy, focusing on education, quality of life, regional empowerment, and healthcare, offers a hopeful vision for Indiana’s future. The Commonsense Economic Development Plan provides concrete steps to implement this transformative strategy.

“For 20 years, Indiana’s economic development strategy has focused on the largest corporations, not Hoosier workers or small businesses,” McCormick said. “Our balanced strategy will prioritize people and small businesses – strengthening education, workforce development, and quality of life in every county.”

This shift in focus is a testament to McCormick’s commitment to valuing and supporting the backbone of the state’s economy – the people and small businesses of Indiana.

During 20 years of one-party rule, Indiana has lost 55,000 jobs, and the real wages of manufacturing workers have fallen 14.4 percent. Despite two decades of pro-business policies and incentives from the IEDC, Indiana’s economic development efforts aren’t keeping up. Reform and increased transparency in the IEDC are necessary to ensure the best interests of Indiana’s residents and businesses.

“Indiana’s economic development strategy of tax incentives and regulatory reductions has not translated into sustained economic growth,” McCormick said. “Indiana’s underlying economic fundamentals make long-term business attraction difficult, and it’s common sense to shift our focus to balance our existing pro-business climate with a prioritization of people retention and recruitment.”