Indiana-Tied Companies with BlackRock Ownership/Investments

AES Corporation – Parent of AES Indiana (former Indianapolis Power & Light). AES operates multiple Indiana power plants and is building a 1,200 MW substation for a Morgan County data center[1]. BlackRock’s Global Infrastructure Partners (GIP, a BlackRock-owned fund) is in advanced talks to acquire AES (≈$38 billion deal)[2]. AES (Arlington, VA) has ~36,000 MW generation worldwide[3]; the Indiana subsidiary serves ~500,000 customers.
Indiana tie: Utility subsidiary AES Indiana (major generation/distribution in Indiana)[1].
BlackRock involvement: GIP (BlackRock-owned infrastructure arm) pursuing takeover of AES[2].

Details: AES Indiana is expanding infrastructure ($68 M substation) for an AI-focused data center in Morgan County[1][2].
Farmland Partners Inc. (NYSE: FPI) – U.S. farmland REIT owning ~140,000 acres across 16 states, including Indiana[4]. BlackRock is a major institutional holder (~6.5% of shares, per Feb 2023 13G)[5].
Indiana tie: Owns/manages Indiana farmland (part of its multi-state portfolio)[4].
BlackRock involvement: 13G filings show BlackRock owns ~3.5 M shares (≈6–8% stake) of FPI[5].

Details: FPI farms generate rent income; 2024 filings note FPI’s portfolio includes Indiana farms[4]. (Total FPI acreage ≈136,000; revenue ~$62 M projected[6].)
ArcelorMittal – Global steelmaker (revenue ~$62.4 B in 2024[7]) with major Indiana operations (e.g. Indiana Harbor steelworks in East Chicago, Burns Harbor). BlackRock disclosed a 5.72% stake as of Oct 2023[8].
Indiana tie: Indiana Harbor and Burns Harbor steel mills (integrated steelmaking sites in NWI); ArcelorMittal Indiana Harbor is one of largest U.S. mills.
BlackRock involvement: Holds ~5.7% of ArcelorMittal’s voting stock (as disclosed in a Luxembourg filing)[8].

Details: ArcelorMittal’s Indiana mills employ thousands; the company is among world’s largest steel producers (57.9 million tonnes 2024)[7].
Cleveland-Cliffs Inc. (NYSE: CLF) – U.S. steelmaker. Its Burns Harbor plant in NW Indiana (Gary/Portage) is a fully integrated steel mill with 2 blast furnaces (≈5 M tons capacity)[9]. BlackRock is a top shareholder (≈8.9% of CLF, per Apr 2025 SEC 13G)[10].
Indiana tie: Burns Harbor (Portage, IN) integrated steelworks[9].
BlackRock involvement: 13G filing (Apr 2025) shows BlackRock owns ~44.1 M shares (≈8.9%) of CLF[10].

Details: Burns Harbor is Cliffs’ 2nd-largest U.S. facility (5M tons steel/year)[9]. Cliffs’ global revenue ~$16 B (2024), making BlackRock’s position strategically notable.
Cummins Inc. (NYSE: CMI) – Engine manufacturer headquartered in Columbus, Indiana (founded 1919)[11]. BlackRock holds roughly 8% of Cummins stock (11.5 M shares, 8.1%, per Jan 2024 13G)[12].
Indiana tie: Global HQ and major R&D/manufacturing in Columbus, IN[11].
BlackRock involvement: SEC filings show BlackRock owns ~11.5 M CMI shares (≈8.1% stake)[12].
Details: Cummins is a Fortune 500 company (2024 sales ~$25B) and a key Indiana employer. BlackRock’s stake makes it a top institutional investor in this major Indiana-based company[11][12].

Each company above has clear Indiana connections (HQ, facilities or assets) and a documented BlackRock ownership or investment stake. Citations come from official news and filings: AES/PBS reports[1][2], FPI SEC/press releases[4][5], ArcelorMittal filings[8], CLF filings and website[10][9], and Cummins corporate info and SEC filings[11][12].

[1] [2] Data center could use up to 9.5 million megawatts of power | morgancountycorrespondent.com