Governor Mike Pence today signed legislation that increases transparency in Indiana's economic development activities, and also announced the launch of a transparency portal for the state's economic development activity.
The bill, SEA 162, requires the Indiana Economic Development Corporation (IEDC) to aggregate information on performance goals, jobs created, expected jobs, recaptured incentives and tax credits claimed each year. It also ensures that taxpayers have access to deal terms and contracts between the IEDC and companies coming to or already in Indiana.
The online transparency portal launched by IEDC will make information easily accessible to the public.
"Greater transparency and accountability ensure public confidence in our economic development efforts and will help keep Indiana's pro-business environment healthy and competitive," said Pence. "I applaud both the members of the Indiana General Assembly for their work on SEA 162 and the work already begun by the IEDC to enhance transparency for the benefit of Hoosier taxpayers across our state."
SEA 162 was authored by Senator Mike Delph (R) and coauthored by Senators Jim Banks (R), Vaneta Becker (R), John Broden (D), Mike Young (R), Frank Mrvan (D), Jean Breaux (D), and Mark Stoops (D). The bill was sponsored by Representative Woody Burton (R) and cosponsored by Representatives Jerry Torr (R) and Justin Moed (D) and House Minority Leader Scott Pelath (D).