| Readers of this newsletter will know I have long been one of the state’s most vocal advocates for significant reform of the Indiana Economic Development Corporation. The need for greater oversight was underscored last week with the release of a forensic audit revealing several concerning dealings within IEDC’s operations over the past few years. As with many of you, my concerns began long before the audit. The lack of transparency and community involvement surrounding the IEDC’s purchase of large amounts of land for the LEAP project—and the spending of millions of dollars to plan a pipeline to take water from Tippecanoe County to operate it—was simply wrong. In response, I authored in the last session Senate Bill 251, which, if it has passed, would have: Required IEDC to publish clear return-on-investment data; Created an independent watchdog with full access to meetings and records and the responsibility to conduct investigations into IEDC operations; and Required IEDC to offset any projects that raise electric, gas or water rates for Hoosiers. I do not claim my proposal is the only solution or that it would fix every challenge, but I am yet to hear any arguments for something better. Ignoring the problem is not an option—nor is allowing the public’s confidence in the IEDC to continue to deteriorate. We need a transparent, accountable, and capable organization that can both compete for economic growth opportunities and support Indiana businesses as they seek to expand. I will continue to work with my colleagues to reform IEDC to help grow our economy and to regain the trust of Hoosiers. |
