July 28, 2014 8:15 PM ET

Company Overview of Indiana Economic Development Corp.

Company Overview

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United States

Key Executives for Indiana Economic Development Corp.

Chief Executive Officer
President
Executive Vice President
Vice President of Business Development
Compensation as of Fiscal Year 2014.

Indiana Economic Development Corp. Key Developments

The University of Notre Dame Collaborates with General Electric Co., The City of South Bend, Indiana Economic Development Corp., Great Lakes Capital and Indiana Michigan Power to Build Nations Top Turbine Engine Component Research and Testing Facility

The University of Notre Dame and five public and private partners announced a $36 million project that will be the nations foremost research and test facility for advancing the technology used in the massive gas turbine engines used by commercial and military aircraft, power plants and the oil and gas industry. Construction in South Bends Ignition Park on a 43,000-square-foot building of which 25,000 square feet will be for the Notre Dame Turbomachinery Facility will begin this summer and be completed by March. The facility will be fully operational in July 2016. This venture will be a cutting-edge research and testing facility for the turbine engine industry as well as a tremendous economic driver for the region. Notre Dame will contribute $7.5 million to the project. Other partners are the General Electric Co., which has committed $13.5 million to fund research and testing for five years; the city of South Bend, which is contributing $4.4 million inclusive of equipment, land for a new power substation and tax abatements; the state of Indiana, through the Indiana Economic Development Corp., which is providing up to $600,000 in training grants and up to $2 million in infrastructure assistance; Great Lakes Capital, which is providing upfront capital of approximately $6 million to construct the facility; and Indiana Michigan Power, which will be investing $2 million in a new substation to provide the considerable power needed to operate the facility's multiple test cells.

Walmart Selects Indiana Economic Development Corp for New ecommerce Fulfillment Center

Walmart announced plans to locate an e-commerce fulfillment center here, creating up to 303 new jobs by 2016. The Bentonville, Ark.-based company will construct and equip a new 1.2 million square-foot facility in Plainfield. The facility, which will allow the company to process and ship orders for its fast-growing online operation, will be operational in early 2015 at the AllPoints Midwest distribution park developed by Indiana-based Duke Realty and Browning. Walmart joins a long list of companies that have recently selected Indiana as home the for their logistics operations. Indiana's central location places it within a single day's haul to 80% of the U.S. population.

Indiana Economic Development Corp. Announces Executive Changes

Indiana Economic Development Corp. appointed Kent Anderson as the vice president of business development. Anderson joined the state's job hunting agency in January 2012 as the director of international business development, spearheading the state's efforts to attract and retain companies from around the world. Under his leadership, the IEDC secured deals with more than 110 international companies, which are expected to bring morethan 8,700 new jobs and more than $3.25 billion in investment to Indiana over the next several years. In addition, Anderson oversaw the restructuring and streamlining of the IEDC's international footprint. Anderson replaces Charlie Sparks who served with the agency since its creation in February 2005 in roles ranging from director of the north central region to vice president of business development. Anderson, whose new duties are effective immediately, has an extensive career in business development and military service.

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