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[R29] Column: Economic development booming in Indiana
Start Date: 12/3/2012Start Time: 12:00 AM
End Date: 12/3/2012End Time: 11:59 PM
Entry Description
Economic development booming in Indiana

It is with great pride that I watch the changes that have taken place in northern Indianapolis and Hamilton County over the last 10 to 20 years. This area of the state has grown exponentially as more people choose to live in our community to work and raise a family. The draw of Indiana may not be mountains or ocean views, but the Hoosier state has a lot to offer and people are taking notice.

The Indiana Economic Development Corporation announced earlier this week that 220 companies have made decisions to expand or establish new business operations in Indiana, outpacing the 219 decisions made by companies at year-end last year and every other year on record. With four weeks to go, we are hoping this number continues to grow as other companies realize the potential for growth and expansion in Indiana with a more than capable Hoosier workforce.

Had this accomplishment been during a different time, the significance could be somewhat diminished, but considering the looming fiscal cliff and uncertainty stemming from Washington I remain confident in our state’s prospects moving forward. Companies want to locate here because of the economic policies in place, hospitable tax climate and strength of workforce. Indiana has received numerous accolades complementing these characteristics:
  • Indiana ranks 1st in the Midwest and 5th in the nation as the best place to do business in the Pollina Corporate Top 10 Pro-Business States for 2012 study
  • Indiana ranks 5th in the nation for business friendliness and 7th for cost of living in CNBC’s “America’s Top States for Business” report
  • Indiana ranks 1st in the Midwest and 5th in the nation in Chief Executive magazine’s annual “Best and Worst States” survey
  • Indiana ranks 6th in the nation for business climate according to Site Selection magazine
  • Indiana ranks best in the Midwest and 8th overall in Area Development magazine’s “Top States for Doing business” study
  • Indiana is one of 9 states that now has a triple-A credit rating from all three agencies (Standard & Poor’s, Fitch and Moody’s)
Every Hoosier should take pride in the fact that this list continues and businesses are noticing. Of the 220 companies who have announced their plans for Indiana, they anticipate investing $3.6 billion into their operations here, creating 20,866 new jobs in the coming years. These are not minimum wage jobs. The expected average hourly wage is $22.35, above the state's current hourly wage of $19.66.

When the legislative session begins on January 7, I will be looking to build on our momentum to continue to attract more jobs and break new records. Indiana’s potential to be an economic powerhouse in the U.S. has been unheralded up to this point, but times are changing. Hoosiers understand the importance of having a government that lives within its means, balances the budget and provides the most fundamental opportunities for its citizens to succeed and prosper. These are the attributes that have allowed us to be in the great position that we are currently in.

I will be sending out a pre-session survey in the coming weeks, so that I can best represent your ideas and views at the Statehouse. I read every survey and take your answers very seriously as they play a critical role in shaping the outcome of legislation. I would greatly appreciate a moment of your time in filling out the survey and sending it back to me. If you have any comments, questions or concerns, please do not hesitate to call me at (317) 232-9620 or via email at h29@in.gov.

-30-

State Representative Kathy Richardson (R-Noblesville)
Contact Information:
Name: Nicholas Goodwin
Phone: 3172329831
Email: ngoodwin@iga.in.gov
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