Record tech investment prepares Indiana for AI era – Indianapolis Business Journal

Indiana is in the middle of the global race for technology and innovation and from our perspective, we're in a great position: we're home to one of only nine Salesforce Towers, one of only six Infosys US Technology and Innovation Centers, one of the 15 fastest growing VC ecosystems, and we're currently one of the world's leading data centers, hosting 33 Google towers, 100+ AWS towers, 300+ Microsoft towers, and one of 24 Meta towers.

The growth of Indiana's technology sector has not traditionally been driven by large capital expenditure investments – it has primarily come from the imagination of Indiana's outstanding digital innovation leaders who are leveraging their human capital in the digital age.

This year is different.

In the first five months of 2024, the Indiana Economic Development Corporation announced five major technology capital investments totaling approximately $19 billion in projects that will have a significant impact across the state.

Microsoft's $1 billion data center in LaPorte.

Google's $2 billion data center in Fort Wayne.

Amazon Web Services' $11 billion data center in New Carlisle.

SK Hynix's $3.9 billion semiconductor packaging facility in West Lafayette.

Metas' $800 million data center in Jeffersonville.

Rising demand for cloud computing and storage infrastructure is a key driver of this growth, which has been driven in part by a decades-long growth in digital presence accelerated by the pandemic, and a super catalyst: artificial intelligence, which requires vast amounts of data to be stored and intelligently processed.

Indiana has sought to win these major projects through strong state leadership as well as an effective combination of technical, economic, environmental and regulatory considerations: On the supply side, there is easy access to quality technical talent, including engineering, affordable rates given the quality of the location, low construction and maintenance costs, available energy sources, existing internet network connectivity, and a strong regulatory environment regarding taxes, business regulations, incentives and data protection.

On the demand side, infrastructure projects tend to prioritize customer proximity. Salesforce's acquisition of ExactTarget in 2013 was very product and customer focused; the company's large presence in the region speaks to its customer expansion potential there. Similarly, Infosys' technology and innovation center is partly enabling its US operations to take a more localized, customer-centric approach amid COVID-related headwinds in commercial real estate.

Many businesses in the region are well-positioned to thrive in the AI ​​era. McKinsey data released in Q2 showed that organizations' use of generative AI has nearly doubled from 33% just a year ago to 65% — one of the fastest technology adoption curves in human history. Overall AI adoption has soared to 72% from a plateau of 50%-60%.

The opportunity is clear: technology-driven productivity gains must be an economic strategy not only for the technology sector, but also for advanced and related industries, which account for 65% of Indiana's total economic activity. Global, national and Indiana-specific reports agree that organizations that embrace technology in general, and AI in particular, are outperforming their competitors.

To keep our residents, businesses, and communities competitive, we need to invest in leveraging AI.

Recent Big Five technology investments will have ripple effects that will change markets for generations to come. They demonstrate the growing maturity of Indiana's technology and innovation ecosystem, combining strong infrastructure and enterprise technologies, a tech-driven business community, and innovation-driven mid-market and startup companies. This increasing density and interplay between sectors will continue to drive economic vitality.

TechPoint will continue to facilitate these interactions and invite Indiana innovators looking for talent, customers and capital to join us on this journey.

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Gootee is CEO and president of TechPoint.

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