The Greater Lafayette Region and the city of Lafayette in northwest Indiana kicked off 2024 with a string of new investment deals. The region’s and city’s efforts to diversify their industrial base amid rising demand have begun to bear fruit.
In February, construction and engineering machinery manufacturer Caterpillar announced a $725 million expansion to its plant in Lafayette. In April, South Korean chipmaker SK Hynix said it would build a $4 billion advanced chip-packaging facility in West Lafayette.
While investors from around the world head to Lafayette, the Japanese business community was the first to recognize the benefits of operating in the city. In 1986, Subaru set up its only assembly plant and since then has invested more than $2.2 billion in Lafayette and raised annual production to 410,000 vehicles.
Mayor Tony Roswarski attributes the city’s success with Japanese investors to the region’s distinctive business culture.
“In Lafayette, two plus two doesn’t equal four but eight, because we get things done at a quicker pace here. Fostering a conducive business culture relies on a collaborative partnership among different stakeholders,” Roswarski said.
“The Greater Lafayette region takes pride in its close collaboration with education partners like Purdue University and Ivy Tech Community College, alongside business partners and their suppliers, ensuring alignment at every level,” the mayor added.
Apart from focusing on the investment climate, the city also focuses on improving quality of life for its residents and their families.
“We draw inspiration from the Japanese value that emphasizes a holistic quality of life, which is why our administration is dedicated to investing in our business partners and their families,” said Roswarski, who oversees a $40 million program to expand housing and a $50 million project to improve the city’s recreational spaces.
