Business Development – State & Regional Information

 

Business Development / State & Regional Information

LEADERSHEET | April 2021

ATTRACTION + EXPANSION 

2021 COMMITMENTS: So far this year, businesses have committed to creating up to 13,899 new Hoosier jobs and investing $2.1 billion in their Indiana operations in the coming years. Of these planned jobs, the average wage is $28.88/hour, which is approximately 22.5% higher than the state’s average wage.

2020 COMMITMENTS 31,300 new jobs | $5.6B investment | $28.13/hour avg. wage

INDIANA PTAC $52.1M awarded in federal government contracts in 2021

INDIANA SBDC 150 business starts & 372 new jobs created in 2021

TAKING BUSINESS TO THE NEXT LEVEL

PRO-GROWTH BUSINESS CLIMATE

»  Corporate tax cuts–5.25% (4.9% by 2021)

»  Individual tax cuts–3.23% (down from 3.4% in 2014)

» AAA credit rating from all three agencies

»  Right-to-Work 23rd nationally to enact a right-to-work law

CONNECTIVITY

»  Next Level Roads $1.2B/year in new funding by 2024 for Indiana’s roads and bridges

»  Next Level Connections $1B to expand broadband access; increase air service; and finish major highway projects

INNOVATION & ENTREPRENEURSHIP

»  Next Level Fund $250M to cultivate & invest in Indiana’s entrepreneurial ecosystem

» Headquarters Relocation Tax Credit Attract high-growth companies to Indiana

»  Innovation Vouchers Support innovation and R&D among small businesses

»    Venture Capital Investment Tax Credit  Help entrepreneurs & startups attract capital more quickly

» Data Center Tax Exemption Encourage large-scale data center growth

21st CENTURY TALENT

»  Income tax exemption on military pensions

»   Next Level Jobs  Help skill up Hoosiers for high-priority industries & high-demand jobs

»  Governor’s Workforce Cabinet Develop and align plans for workforce programming

» Regional Cities Initiative Invest in quality of place & talent attraction initiatives

» 21st Century Talent Regions Attract, develop & connect talent in Indiana

» Redevelopment Tax Credit Encourage continued regional development & revitalization

STATE BUSINESS RANKINGS

»   #1 in the Midwest and #5 Nationally Chief Executive Best & Worst States 2020

»  #1 Infrastructure CNBC 2019

»  #1 in the Midwest for Entrepreneur Friendliness SBE Council 2019

»   #4 Cost of Doing Business CNBC 2019

»  #5 Prosperity Cup Site Selection Magazine 2021

»  #5 Competitive Labor Environment Area Development 2020

IN THE NEWS

Beverage maker Ninth Avenue Foods plans $103M Indiana plant with 100 jobs

Global sewing company expanding in Columbia City, to create up to 50 jobs

Apple to invest in new operations in Hendricks County, bringing nearly 500 new jobs

IEDC Lauds Economic Development Legislation

Toyota announces $803 million investment and 1,400 new jobs

Camper maker is expanding operations in northern Indiana

JOBS + UNEMPLOYMENT

UNEMPLOYMENT | April 2021

3.9%

Unemployment: Below the national average of 6.1%

Private Employment: 2,622,300

Labor Force: 63.1% participation (U.S. rate: 61.7%) Indiana’s total labor force stands at 3.34 million

IN THE NEWS

IN THE NEWS

IN THE NEWS

 

 

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