Major Moves Money Invested

Advertisement

(STATEHOUSE) - The state has picked 22 firms to invest $3-billion in proceeds from the Toll Road Lease.

Treasurer Tim Berry says 89 investment firms made bids for a piece of the Major Moves pie. The final mix ranges from a $1-million CD at the Farmers Bank in Frankfort to $365-million with Columbus-based Reams Asset Management. Berry says 13 of the firms are Indiana companies. Three more have large Indiana workforces.

Those 16 firms account for 72% of the money. The goal is to average a 5¼% return each year. In a related note, the Williams Road Improvement Project (State Road 450) is the first project completed with Major Moves money.

Print this story