DeLaney ‘not impressed’ with IEDC

Today, Aug. 22, the Indiana Economic Development Corporation testified in front of the State Budget Committee to request an additional $200 million. While half of this money is to be used for a disclosed project in Kokomo, the other half is to be used for private, undisclosed operations. This request is on top of the $500 million allocated by the state in the 2023 budget, of which they claim $408 million is already committed to various projects. The IEDC will not disclose the full details of what this additional funding would be used for. There was no dissension about the portion relating to the Stellantis-Samsung project in Kokomo. 

State Rep. Ed DeLaney (D-Indianapolis) released the following statement: 

“The IEDC comes to us time and time again asking for more money for the LEAP project without providing any answers. At the State Budget Committee meeting on June 11, I asked the IEDC to provide a very basic figure: how much money has been spent on the LEAP project thus far. 

“Not only did the IEDC fail to provide an answer to my simple question, they also did not disclose how much they expect to need in the future. I’m hoping to have the details on the past expenditures by the end of the month. The future is anyone’s guess. 

“While this secrecy is said to be in the name of protecting ‘sensitive negotiations,’ I feel compelled to remind my friends at the IEDC that the General Assembly is a ‘negotiating party’ that can reduce their budget. 

“The legislature and the public deserve to know where the hard-earned taxpayer money allocated to the IEDC is going. We cannot keep spending over the amount we budgeted for the IEDC without any sort of cap. 

“There was a disparity between the majority's view on economic development and the reaction of one member, State Sen. Chris Garten, who did not see any 'return on investments' in healthcare for aged and disabled Hoosiers. By contrast, I am tired of guessing about the return on economic development investments.”