Meet The IAC: Indiana Economic Development Corporation (IEDC)
Indiana has played a major role in the creation and development of the Indy Autonomous Challenge (IAC). This first-of-its-kind competition was conceived and organized by two state leaders, Energy Systems Network (ESN) and the Indianapolis Motor Speedway (IMS) and today, continues to receive the strong support of the Indiana Economic Development Corporation (IEDC). Rollie Helmling, senior advisor for Automotive, Aerospace and Motorsports for the IEDC, spoke with The Leaderboard about why Indiana leads the nation in motorsports and automotive manufacturing and how the state’s history provides the solid basis for that leadership. We also talked about what’s next.
Q. What is the mission of the Indiana Economic Development Corporation (IEDC)?
The IEDC leads the state of Indiana’s economic development efforts, helping businesses launch, grow and locate in the state. Our mission is to grow Indiana’s economy and help companies create more quality jobs for all Hoosiers.
Q. The IAC is at the sweet spot of automotive and tech. Where does the state stand at the intersection of these two industries?
Indiana’s heritage is in manufacturing, going back to the early days of farming and, around this ecosystem built up a network of academic institutions — some of the best engineering schools in the country which, in fact, today have developed the largest university supercomputing capacity in the nation. Indiana has the highest per capita of population working in manufacturing and the state leads the nation in job creation. From farming Indiana expanded into supporting automotive manufacturing and also aerospace with many of the leading aerospace companies, including Rolls-Royce, GE Aviation and Raytheon, electing to establish facilities in Indiana.
Q. How did Indianapolis become the “Racing Capital of the World”?
In the spring of 1909, the Indianapolis Motor Speedway (IMS) was built via the creative vision of Carl G. Fisher and three partners, James Allison, Arthur Newby and Frank Wheeler. The first event held at the IMS was a helium gas-filled balloon competition that took place on Saturday, June 5, 1909.
The track’s early purpose was to serve as a common testing facility for the rapidly growing local automobile industry. Soon it became apparent that the best way to showcase automotive technology was through racing, and as a result, dozens of companies, including Marmon, Cole, National, Marion, Overland and American Underslung began operating in and around the city limits of Indianapolis. By 1908, Indianapolis had risen to fourth in the country in terms of number of automobiles produced, and by 1913, it ranked second.
Today, Indiana continues to rank in the top three for automotive production and component manufacturing and Honda, Toyota, Subaru, FCA and General Motors have some of their largest assembly and manufacturing plants in the state. And, within the proximity of the IMS, are multiple automotive and motorsports racing companies and suppliers, including the famous Italian auto racing company, Dallara, which designs and engineers the racecar used in the Indy 500, and has manufactured the chassis for the IAC competitors. Indianapolis is the only facility for Dallara outside of Italy because of this automotive and technology ecosystem. Today, the automotive culture has grown exponentially, with the IMS and motorsports as its focal point, contributing to Indiana’s balanced budget. And, it wouldn’t surprise you to know that Indianapolis’ sister city is Le Mans, France.
Q. How would you incentivize the 30 teams in the IAC to make Indianapolis their home to grow their businesses and continue their research?
Thanks to the IEDC and organizations like Energy Systems Network (ESN), companies looking to locate or expand operations in Indiana have a strong support system to fuel their companies. And, we are one of the few US states with a surplus, $2 billion. We offer a refundable tax credit and other state initiatives to provide new investment for up to 10 years for job creation and job training. We have many of the world’s best engineering universities, including the Rose-Hulman Institute of Technology, the University of Notre Dame, Purdue University and IUPUI — the last two being formidable entrants in the Indy Autonomous Challenge. And, of course, we are home to the most famous testing ground and racing facility on the planet - the Indianapolis Motor Speedway.