Indiana’s state agency responsible for business recruitment, the Indiana Economic Development Corp. (IEDC), will soon welcome its third president since Governor Mike Braun took office early last year. The governor’s office announced Thursday that business executive Mitch Frazier will step into the role, effective October 5. He replaces Josh Richardson, who is stepping down after approximately 11 months in the position to pursue a private sector opportunity.
Josh Richardson’s departure marks another leadership change for the IEDC, an agency vital to attracting and retaining businesses that bring jobs and investment to the Wabash Valley and across the state. Richardson was selected for the IEDC presidency last October after previously leading the Department of Workforce Development. The governor’s office credited Richardson with helping lead the IEDC during a time of leadership transition and increased alignment between the state's economic development and workforce efforts. State Commerce Secretary Chuck Goodrich expressed gratitude for Richardson's leadership and service to Indiana, describing him as a "valued partner" in establishing the direction for the Office of Commerce. Goodrich wished Richardson and his family success in his next role in the private sector.
Mitch Frazier brings a diverse background in business and agriculture to his new role. He is currently the president of IBJ Media, which publishes the Indianapolis Business Journal and the Indiana Lawyer. His previous experience includes serving as CEO of AgriNovus Indiana, a nonprofit group dedicated to promoting the state’s agriculture industry. Frazier also held the position of CEO at Reynolds Farm Equipment. Notably, he has prior experience with the IEDC itself, having served as its media relations director during the administration of Governor Mitch Daniels.
Governor Braun affirmed Frazier's qualifications in the announcement, stating that Frazier understands Indiana, understands business, and knows what it takes to turn ideas into results. As IEDC president, Frazier will report directly to State Commerce Secretary Chuck Goodrich. Goodrich, who was appointed to the commerce position in July, is the CEO of Indianapolis-based Gaylor Electric. Goodrich oversees the IEDC, along with the Indiana Destination Corp. and other state agencies.
The IEDC, which plays a crucial role in promoting business investments and compiling financial incentive packages for companies, has experienced significant leadership changes since Governor Braun assumed office. Braun’s first commerce secretary, David Adams, initially served as both commerce secretary and IEDC president. However, the General Assembly directed Governor Braun to establish two separate positions, leading to Richardson’s appointment as IEDC president last October. Adams subsequently stepped down as commerce secretary in June, which paved the way for Goodrich’s appointment in July.
These frequent transitions highlight an ongoing realignment within Indiana’s economic development structure. For residents, commuters, and small-business owners in Terre Haute and the wider Wabash Valley, the IEDC's leadership is critical to the state's ability to attract new industries and support existing ones, directly influencing local job markets and economic growth. The consistent leadership changes underscore the state's efforts to refine its approach to business development and workforce alignment under the current administration.
