INDIANAPOLIS -- Indiana will invest $1 billion to help spark new local ideas and companies, Gov. Mike Pence announced Thursday.
The investment will be spread over the next 10 years.
Pence is requesting funding from the Indiana Public Retirement System and the General Assembly to go toward the 21Fund and a Venture Capital Investment tax credit.
"Indiana is ranked first in the Midwest for business and first in the nation for small business regulations, but we’re not done yet," Pence said in a release. "We must build on this economic momentum and increase collaboration between educators, community leaders, industry partners and most importantly, idea generators, to further propel innovation across the Hoosier state for generations to come.”
Depending on what happens Friday, Pence may not be in town to see the future of the investment. He's one of the final candidates to be Donald Trump's vice presidential choice.
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The plan for the investment is to collaborate with government, education and research institutions.
Pence announced the plan at the Innovation Showcase in Indianapolis.
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