Pence wants to invest $1 billion for jobs over 10 years

FILE - In this Dec. 14, 2011, a line worker assembles a 2012 Ford Focus at the Ford Michigan Assembly plant in Wayne, Mich. The jobs report on Friday, Feb. 6, 2015, signaled that raises have finally begun to flow through an economy in which, once you factor in inflation, most people earn less than when the Great Recession struck in 2007. Ford has announced that up to 500 of its lowest-paid factory workers will receive a 48 percent pay raise to $28.50 an hour. Other major companies, including Aetna and the Gap, have also announced pay increases. (AP Photo/Paul Sancya)

INDIANAPOLIS (AP) — Gov. Mike Pence says Indiana will invest $1 billion over 10 years to create new companies for new jobs.

Pence outlined a plan Thursday that calls for collaboration among government, education and research institutions, communities and the private sector to head off potential threats to growth, such as shortages of workers and investment funds. He says $500 million could come from using part of a state pension fund to invest in new and growing companies.

He presented the proposal at the Innovation Showcase in Indianapolis while being considered as the running mate to presumptive Republican presidential nominee Donald Trump, a move that would force him to drop his state re-election bid.

The gubernatorial campaign of Democrat John Gregg says the Pence plan borrows from proposals it presented last month.


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