Indiana maintains a strong economic foundation built on manufacturing, healthcare, pharmaceuticals, and logistics. So, it’s no wonder that the state is home to several Fortune 500 comapnies.
With a strategic location in the Midwest and a skilled workforce, the state continues to attract and retain major corporations that shape both local and national markets. Of course, they surfaced from the foundation of small businesses.
Fortune 500 companies bring financial strength, jobs, and innovation to Indiana’s economy. Their presence strengthens infrastructure, drives technological development, and supports communities across the state.
Selection here is based on overall size, revenue impact, industry leadership, and influence within Indiana and across the global market.
1. Eli Lilly and Company
In 2024, our medicines gave millions more people a chance at better health. Read more about our Q4 2024 results: https://t.co/OXHCNFputf pic.twitter.com/d5CsubKjf4
— Eli Lilly and Company (@EliLillyandCo) February 6, 2025
- Headquarters: Indianapolis, IN
- Industry: Pharmaceuticals
- What They Do: Research, develop, and distribute prescription drugs
- Reach: Over 125 countries
- Key Impact: Largest company in Indiana by revenue; major employer and R&D investor
Headquartered in Indianapolis, Eli Lilly and Company represents one of Indiana’s most recognized and influential enterprises. As a major player in pharmaceuticals, the company focuses on discovering, developing, and producing prescription medicines used worldwide.
Its portfolio covers treatments for diabetes, cancer, immunology, and neurological conditions.
Distribution reaches more than 125 countries, making it a global force in healthcare. Significant revenue, combined with aggressive research and development spending, allows the company to remain competitive in a highly regulated and fast-paced industry.
As Indiana’s top revenue-generating business, Eli Lilly fuels local economic activity through thousands of jobs and investments in local communities. Its impact on global health care policy and medical research further amplifies its role as a leader in the pharmaceutical sector.
As you can see, it is the best-known Fortune 500 company in Indiana.
2. Cummins Inc.
- Headquarters: Columbus, IN
- Industry: Engine manufacturing and power systems
- What They Do: Designs and distributes power generation products
- Reach: Over 190 countries
- Key Impact: Drives innovation in sustainable technologies
The next Indiana company we want to talk about from Fortune 500 is Columbus-based Cummins Inc. It plays a major role in global power solutions.
Specializing in diesel and alternative fuel engines, the company also develops filtration, turbochargers, fuel systems, battery systems, and power generators.
Its commitment to performance, reliability, and energy efficiency has earned it respect across industrial, commercial, and transport sectors.
Operations span over 190 countries, supported by a strong network of distribution centers and service technicians. As markets evolve, Cummins leads with investments in electrification, hybrid technology, and hydrogen-based innovations.
Indiana benefits from Cummins’ strong local presence through job creation, STEM partnerships, and infrastructure initiatives. As both an economic engine and a technological innovator, Cummins helps position Indiana as a leader in industrial manufacturing.
3. Elevance Health (formerly Anthem, Inc.)
- Headquarters: Indianapolis, IN
- Industry: Health Insurance
- What They Do: Offers health and insurance services nationwide
- Reach: Millions of members across the U.S.
- Key Impact: Major player in managed care; drives innovation in digital health
Elevance Health, based in Indianapolis, ranks among the nation’s top healthcare insurers. The company delivers a wide range of services that include health benefit plans, disability and life insurance, dental, vision, and behavioral health solutions. Through its Blue Cross Blue Shield affiliates, Elevance serves millions of policyholders nationwide.
As one of the largest for-profit managed healthcare companies in the U.S., Elevance helps shape the insurance landscape. Focus remains on accessibility, affordability, and preventive care.
With thousands of employees in Indiana, Elevance contributes heavily to the state’s healthcare economy. Strategic partnerships, health equity initiatives, and investments in data-driven care strengthen its influence across public health and policy sectors.
4. Simon Property Group
- Headquarters: Indianapolis, IN
- Industry: Real Estate (REIT)
- What They Do: Owns and manages major shopping and entertainment centers
- Reach: Global presence in retail and mixed-use development
- Key Impact: Largest U.S. mall operator; reshaping commercial real estate
Simon Property Group calls Indianapolis home and holds the title of the largest shopping mall operator in the country. As a Real Estate Investment Trust (REIT), it owns, develops, and manages high-end retail, entertainment, and mixed-use properties.
Brands such as The Forum Shops, The Galleria, and premium outlets reflect the company’s emphasis on quality and customer engagement.
While retail faces challenges, Simon adapts through digital integration, luxury experiences, and redevelopment projects. Properties often double as community gathering spaces and economic engines for surrounding areas.
Indiana gains financial strength and urban development through Simon’s investments, while thousands of residents find employment in retail and operations linked to its assets.
5. Steel Dynamics, Inc.
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- Headquarters: Fort Wayne, IN
- Industry: Steel Production and Recycling
- What They Do: Produces and recycles steel products across the U.S.
- Reach: Nationwide with select international clients
- Key Impact: Emphasizes sustainable steel solutions
Steel Dynamics, based in Fort Wayne, holds status as one of the largest domestic steel producers in the United States. The company manufactures flat roll steel, structural steel, and engineered metals. It also operates recycling facilities that process scrap into raw materials for reuse.
Innovation drives the company’s focus on sustainable practices. Investment in electric arc furnaces and scrap-based production minimizes environmental impact while keeping costs competitive.
Employment opportunities and local economic benefits in Indiana remain strong. Through efficient production methods, Steel Dynamics helps position Indiana as a key contributor to the American manufacturing supply chain.
6. Zimmer Biomet
- Headquarters: Warsaw, IN
- Industry: Medical Devices
- What They Do: Designs and manufactures orthopedic and surgical products
- Reach: Over 25 countries
- Key Impact: Global leader in orthopedic solutions; key biomedical employer
Zimmer Biomet, based in Warsaw, drives advancements in orthopedic and surgical innovation. The company develops products for joint replacement, dental reconstruction, spine procedures, and sports medicine. Health systems and surgeons across the world rely on Zimmer Biomet’s precision-engineered implants and surgical tools.
Operations cover over 25 countries, but its largest impact remains rooted in Indiana, where biomedical manufacturing and innovation have shaped Warsaw into a hub for orthopedic devices.
In addition to driving exports, Zimmer Biomet supports thousands of high-skill jobs. Research partnerships and product innovation fuel growth and position Indiana as a leader in life sciences.
7. Berry Global Group, Inc.
- Headquarters: Evansville, IN
- Industry: Packaging and Plastics
- What They Do: Produces plastic packaging, coatings, and films
- Reach: Global supplier across dozens of sectors
- Key Impact: Invests in eco-friendly packaging innovation
Headquartered in Evansville, Berry Global manufactures packaging and plastic products used in industries such as food, personal care, healthcare, and agriculture. Its products include containers, wraps, films, adhesives, and protective solutions tailored for high-volume and custom needs.
The company places strong emphasis on sustainable packaging, investing in recyclable materials and environmentally responsible design. Brands across the world turn to Berry for packaging that meets both performance and environmental goals.
Berry Global plays a major role in Indiana’s plastics and manufacturing sectors. As demand rises for flexible and eco-conscious packaging, Berry remains at the forefront of material innovation and job creation.
The Bottom Line
Indiana remains a national leader in key economic sectors, driven by the success of these Fortune 500 companies.
Growth potential continues across manufacturing, life sciences, packaging, and commercial development.
With strategic investments and a workforce committed to progress, Indiana is positioned for continued expansion and industry leadership in the years ahead.
