Report: Indiana Continues To Fall Behind Other States In Key Economic Areas
A new report shows Indiana continues to lag other states in key economic areas including health care costs, new entrepreneurs, and high electricity rates. The Indiana Chamber of Commerce’s 2020 Snapshot is a part of a long-term plan that shows where improvements can be made to make the state more competitive.
The report evaluates states on 32 metrics. Indiana ranked six times in the top 10 and four in the bottom 10. That places it behind some of its top competitor states.
Indiana Chamber President and CEO Kevin Brinegar says one improvement was an increase in the number of Hoosiers with a secondary degree. But he says more needs to be done to educate and prepare the state’s workforce.
While Indiana has improved in some areas, so have other states.
“While we’ve made progress in these areas in an absolute sense, it hasn’t necessarily improved our rankings and we still, in many key areas, remain in the bottom 50 states,” says Brinegar. “Which we believe means we need to keep our foot on the pedal and stay focused.”
He says the data will be used to help create legislative priorities for the organization to lobby lawmakers next session.
While the coronavirus pandemic is not reflected in the report, Brinegar says during a time of economic uncertainty, Indiana has potential opportunities.
“Maybe we’ve got some critical medical supplies and pharmaceuticals and other things being produced overseas needs to be brought back to the United States, and Indiana would be a great place for reshoring those goods and the manufacturing of those goods,” he says.
Brinegar says the state could also benefit if more companies shift permanently to remote work. He says it could draw more people to Indiana and increase the talent pool in the state.