Written by Victor Smith, Indiana Secretary of Commerce
Indiana's sound fiscal positioning has attracted a record number of jobs and investment recently, with a 2013 year-end total of 261 company deals, 21,000 new job commitments and $2.6 billion in new investment. Just to put those numbers in perspective, 261 new Indiana company commitments is more than one new business deal per business day for the entire year. Our most recent unemployment numbers also show a drop again in December to 6.9 percent, which is lower than any of our neighboring states.
So why is Indiana attracting so many new jobs? Essentially, our business environment has been on a constant trajectory of improvement for over eight years, and every time we improve infrastructure, lower taxes or increase efficiency, the economy picks up just a little bit more momentum, and we improve the course for economic development.
Our attractiveness involves keeping costs low and stable, which has allowed Indiana to bank a portion of the annual state budget in cash reserves. That cash position allows us to invest in new opportunities, which is a luxury that most states simply don’t have right now. It affords Indiana the opportunity to invest inward and take an already great state and make it even better.
As other states raise taxes to pay for budget deficits, dividing the public and private sector in policy wars, Indiana is enjoying the benefit of fiscal strength and solvency that came about from an ability to connect on issues that benefit both the state’s economy, infrastructure and quality of life.
By continuously listening to what businesses need to reach their full potential and working to get those things done, Indiana is definitely a State that Works for plotting a trajectory for success that will create prosperity and opportunity for many generations of Hoosiers to come.