INDIANAPOLIS — State lawmakers and watchdogs say more action is needed to rein in the Indiana Economic Development Corporation following an audit that identified widespread and systemic problems inside the quasi-state agency.

Gov. Mike Braun ordered the audit this spring due to growing concerns about mismanagement and a lack of transparency and oversight at an agency that distributes hundreds of millions of state tax dollars to attract business and jobs to Indiana.

Results of the forensic investigation are now complete, and a 127-page audit report exposed multiple shortcomings within the IEDC, its nonprofit foundation and its venture capital firm.

Among their findings, auditors found:

“The entity is supposed to be creating jobs. It is creating scandals instead,” said Greg LeRoy, execut

See Full Page