Economic Development
Developed in the 1960s, economist W.W. Rostow stated that there are 5 stages to economic development:
- traditional society
- preconditions to takeoff
- takeoff
- drive to maturity
- and age of high mass consumption
Indiana’s top three employment sectors include Healthcare and social assistance, Retail trade and Professional, scientific, and technical services while the unemployment rate across the state in March 2020 was 5.3%.
Room to expand
In general, economic development is usually the focus of federal, state, and local governments to improve our standard of living through the creation of jobs, the support of innovation and new ideas, the creation of higher wealth, and the creation of an overall better quality of life
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Indiana is here for YOU! Economic development often is categorized into the following three major areas:
* Governments working on big economic objectives such as creating jobs or growing an economy. These initiatives can be accomplished through written laws, industries' regulations, and tax incentives or collections.
* Programs that provide infrastructure and services such as bigger highways, community parks, new school programs and facilities, public libraries or swimming pools, new hospitals, and crime prevention initiatives.
* Job creation and business retention through workforce development programs to help people get the needed skills and education they need. This also includes small business development programs that are geared to help entrepreneurs get financing or network with other small businesses.
Access to a skilled workforce
The Office of Work-Based Learning and Apprenticeship, part of Gov. Holcomb’s NextLevel Agenda, serves to develop and implement a framework of work-based learning pathways for both youth and adult populations.
Indiana is a business-friendly state
More than one million jobs must be filled in Indiana over the next 10 years. Use the logo above to see how we'll help you!
Looking for a place to start or grow your business and really make an impact? The time is now, and Indiana is the state. We offer the environment, skillset and people to help you gain a competitive edge and make a difference.
Forbes: Indiana has the #5 regulatory environment in the U.S.
Chief Executive: Indiana is the #5 best state for business in the U.S.
Tax Foundation: Indiana ranks #2 in the U.S. for property tax rates
Success Stories
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Indiana Department of Workforce Development