Indiana Now Has Over $2.3 Billion In The Bank

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INDIANAPOLIS  — Indiana’s state cash reserves grew faster than expected over the past year.

The state now has nearly $2.3 billion more in the bank this year, and the governor is proposing to spend some of that money on several planned construction projects.

State budget officials announced Thursday that Indiana closed the 2019 fiscal year ending June 30 with $485 million more in reserves than a year ago which is about $200 million more than officials anticipated in April.

Republican Gov. Eric Holcomb is recommending that $300 million go toward projects, including $78 million of upgrades eliminating traffic signals and railroad crossings on U.S. 31 in northern Indiana. Others involve construction of a new veterinary hospital at Purdue University and building projects at the Indiana State Fairgrounds, Ball State University and Ivy Tech State College in Columbus.

 

Photo by Vladimir Solomyani on Unsplash