The U.S. Department of Commerce proposed nearly $500 million in federal incentives for SK hynix – which plans to build a multi-billion dollar advanced semiconductor plant at the Purdue Research Park in West Lafayette.

Gov. Eric Holcomb is looking to future economic opportunities as a partial solution to businesses closing around the state during the pandemic.

The U.S. Department of Commerce has declared Lake, Porter and LaPorte counties an Economic Development District.

Floyd County's commissioners say the grant will help the county expand its industrial base by accommodating high-tech businesses at the Floyd County Tech Park.