§ 5-28-6-2 — Additional powers and duties of corporation

(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.

Legislative History

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.