Eric Holcomb served as Indiana's governor from 2017 to 2025, overseeing a period marked by both economic growth and significant challenges. Initially, Indiana's economy showed promising recovery following the Great Recession; however, the imposition of Trump tariffs in March 2018 adversely affected the state's agricultural sector, leading to a federal bailout for farmers [63722c60].
The COVID-19 pandemic further complicated the economic landscape, resulting in a mixed recovery. While Holcomb's response to the pandemic was noted for its pragmatism, Indiana experienced high COVID death rates, with approximately 26,000 fatalities attributed to the virus. Despite these challenges, Holcomb's leadership during the pandemic is viewed positively by some observers [63722c60].
In terms of education, spending declined from 2.31% of the state's economy in 2017 to 1.99% in 2024, and the college-going rate dropped from 63% to less than 53%. Additionally, the earnings gap for Indiana residents increased from 6.2% to 13.4% below the national average during his tenure [63722c60].
On the economic front, tax incentives grew by over 75% from 2017 to 2019, reflecting Holcomb's focus on attracting businesses to the state. However, these measures did not fully offset the setbacks faced by various sectors, particularly agriculture and education, during his administration [63722c60].
As Holcomb's administration comes to a close, the legacy he leaves behind is one of navigating complex economic challenges while attempting to foster growth and stability in Indiana's economy.