![]() INDIANA SPOTLIGHT
Hinging on Investment
Like teeth in a gear, Indiana's industrial corridors continue to produce the energy needed for a state economy. The industrial backbone stretching from Lake Michigan to the Ohio River is further strengthened by an increasingly interconnected set of university and economic development resources. Indiana's clusters, led by the famed medical device sector in Warsaw, only continue to increase in number and durability. But being at the hinge of the North-South automotive corridor still packs the biggest economic punch, from Fort Wayne to Princeton,
In 2003 and 2004, Indiana was still middle of the pack in the U.S. when it came to corporate real estate executives' evaluations of its business climate, finishing in 26th place two years running in Site Selection's annual business climate survey. The state was 31st in 2002. Meanwhile, the Pacific Research Institute's economic freedom index has Indiana in 14th place in the nation, up from No. 22 in 1999. Solid trend indicators for the state economy, right? Not according to newly elected Gov. Mitch Daniels, whose campaign made the state's industrial economy its centerpiece by casting aspersions on state project data and promising a wholesale abolition of the state's department of commerce. Actually, the Indiana Economic Development Corp., created in 2003 by the General Assembly, will assume that department's responsibilities on July 1, 2005, according to the original law. Daniels' administration reportedly wants to bump up that timetable. Meanwhile, the Indiana Chamber of Commerce's "2004 Economic Vision 2010 Report Card," which measures Indiana's economic performance against competing states and nations, gives the state a "C" grade, citing stagnation when it comes to work force development, innovation and venture capital germination. Officials from the Chamber have also noted that closing the state's own budget gaps will take either 12-percent economic growth or spending cuts of 9 percent. Here's a look at Indiana industrial development beyond the political scrum. ![]() |
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