Sec. 2. (a) The corporation shall develop and promote programs designed to make the best use of Indiana resources to ensure a balanced economy and continuing economic growth for Indiana, and, for those purposes, may do the following:
(1) Cooperate with federal, state, and local governments and agencies in the coordination of programs to make the best use of Indiana resources, based on a statewide study to determine specific economic sectors that should be emphasized by the state and by local economic development organizations within geographic regions in Indiana, and encourage collaboration with local economic development organizations within geographic regions in Indiana and with the various state economic development organizations within the states contiguous to Indiana.
(2) Receive and expend funds, grants, gifts, and contributions of money, property, labor, interest accrued from loans made by the corporation, and other things of value from public and private sources, including grants from agencies and instrumentalities of the state and the federal government. The corporation:
(A) may accept federal grants for providing planning assistance, making grants, or providing other services or functions necessary to political subdivisions, planning commissions, or other public or private organizations;
(B) shall administer these grants in accordance with the terms of the grants; and
(C) may contract with political subdivisions, planning commissions, or other public or private organizations to carry out the purposes for which the grants were made.
(3) Direct that assistance, information, and advice regarding the duties and functions of the corporation be given to the corporation by an officer, agent, or employee of the executive branch of the state. The head of any other state department or agency may assign one (1) or more of the department's or agency's employees to the corporation on a temporary basis or may direct a division or an agency under the department's or agency's supervision and control to make a special study or survey requested by the corporation.
(b) The corporation shall perform the following duties:
(1) Develop and implement industrial development programs to encourage expansion of existing industrial, commercial, and business facilities in Indiana and to encourage new industrial, commercial, and business locations in Indiana.
(2) Assist businesses and industries in acquiring, improving, and developing overseas markets and encourage international plant locations in Indiana. The corporation, with the approval of the governor, may establish foreign offices to assist in this function. However, the corporation may not establish, and the governor may not approve the establishment of, a foreign office in a foreign country described in 15 CFR 791.4.
(3) Promote the growth of minority business enterprises by doing the following:
(A) Mobilizing and coordinating the activities, resources, and efforts of governmental and private agencies, businesses, trade associations, institutions, and individuals.
(B) Assisting minority businesses in obtaining governmental or commercial financing for expansion or establishment of new businesses or individual development projects.
(C) Aiding minority businesses in procuring contracts from governmental or private sources, or both.
(D) Providing technical, managerial, and counseling assistance to minority business enterprises.
(4) Assist the office of the lieutenant governor in:
(A) community economic development planning;
(B) implementation of programs designed to further community economic development; and
(C) the development and promotion of Indiana's tourist resources.
(5) Assist the secretary of agriculture and rural development in promoting and marketing of Indiana's agricultural products and provide assistance to the director of the Indiana state department of agriculture.
(6) With the approval of the governor, implement federal programs delegated to the state to carry out the purposes of this article.
(7) Promote the growth of small businesses by doing the following:
(A) Assisting small businesses in obtaining and preparing the permits required to conduct business in Indiana.
(B) Serving as a liaison between small businesses and state agencies.
(C) Providing information concerning business assistance programs available through government agencies and private sources.
(8) Establish a transparency portal on its current website. The page must provide the following:
(A) By program, cumulative information on the total amount of incentives awarded, the total number of companies that received the incentives and were assisted in a year, and the names and addresses of those companies.
(B) A mechanism on the page whereby the public may request further information online about specific programs or incentives awarded.
(C) A mechanism for the public to receive an electronic response.
(D) Access to the following:
(i) Any information or report that is required by statute to be included in the economic incentives and compliance report submitted under IC 5-28-28.
(ii) Final offer of public financial resources to which the corporation is a party.
(iii) Reports that the corporation submitted to the general assembly.
(c) The corporation may do the following:
(1) Disseminate information concerning the industrial, commercial, governmental, educational, cultural, recreational, agricultural, and other advantages of Indiana.
(2) Plan, direct, and conduct research activities.
(3) Assist in community economic development planning and the implementation of programs designed to further community economic development.
As added by P.L.4-2005, SEC.34. Amended by P.L.83-2005, SEC.9; P.L.1-2006, SEC.126; P.L.120-2008, SEC.3; P.L.114-2011, SEC.4; P.L.172-2011, SEC.24; P.L.6-2012, SEC.38; P.L.130-2018, SEC.13; P.L.197-2021, SEC.7; P.L.116-2025, SEC.2.
