What Indiana’s Economic Outlook Indicates for Growers

Jason NiclaouAt the recent Farwest 2016 national nursery and greenhouse tradeshow in Portland, I got to hear from Gerry Dick, the creator and host of the television series Inside Indiana Business that focus on Indiana’s business environment.  He is also the owner of Grow Indiana Media Ventures, LLC.

Mr. Dick made the following points about Indiana’s Economic Outlook:

  • Present unemployment in Indiana is approximately 4.5%
  • According to Indiana Business News:
    • SIA in Lafayette is targeting to exceed 5,000 full-time employees in 2016.
    • Wal-Mart is planning the country’s largest dairy processing facility in Allen County near Fort Wayne.
    • Purdue University is developing a 1,000 acre technical park targeting aviation & aerospace expansion.
  • Indiana is ranked as the #5 best place to do business in the USA.
  • Indiana has the 2nd highest concentration of world-class bioscience research firms in the country.
  • Advanced manufacturing continues to drive growth.
  • Orthopedic firms in northern Indiana constitute roughly 1/3 of the US market.
  • Food and agriculture research and development is a strong and rapidly growing segment.
  • The Information Technology (IT) sector is on fire in the central part of the state.

Indiana has a conducive business environment, a strong transportation infrastructure, and the foundation to be at the forefront of growth in the future.  The current trends show that businesses in Indiana are growing and some are even migrating here from other states in a variety of industries ranging from wholesale distribution to ultra-precise medical device manufacturing.

Central Indiana, especially Boone County, need to continue add those amenities and educational programs required to attract, develop, and retain the world-class talent needed to fuel this growth.  Educational programs, including vocational and technical tracks, have to be expanded to meet the growing industrial needs and the Gene Haas Training Center at Vincennes University in Lebanon, IN is a prime example.

With concentrated effort, Indiana will remain at the forefront of the expansion of the manufacturing sector in the US. This brings a tremendous amount of opportunity for growers in and around the Midwest to capitalize on the economic growth in Indiana.