(Statehouse) – A state agency whose mission is to help businesses get started and to bring business to the state, is now under scrutiny for possible financial improprieties, as announced at a Thursday press conference by Gov. Mike Braun and Indiana Sec. of Commerce David Adams.
Braun said he has commissioned an independent audit of the Indiana Economic Development Corp., and all of its affiliated entities.
“Where we have found impropriety or even the appearance of it, we have reported it to the inspector general,” said Braun.
He said no one should jump to any conclusions.
“We want to make sure things are reviewed independently. Only then will we take any and all appropriate action,” he said.
Braun said that previously missing financial information from the Indiana Economic Development Foundation had been provided to the state Budget Committee, which reduced the IEDC’s budget significantly in the budget plan announced Wednesday.
Adams said he expects to have a firm hired to conduct the audit within the next few weeks.
“As the governor has directed, we’re gonna utilize IEDC funds to pay for this audit,” he said.
Until then, some of the funding for the agency’s initiatives has been frozen or curtailed, including money used with a partnership between the IEDC and Elevate Ventures, one of its partners.
Braun repeatedly stated that the agency has had permission to be less than transparent since its inception, which he blamed on the previous administration, and said was a mistake.
(Story by Network Indiana)
