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Indiana is the 6th Best State for Business 2014

The Hoosier State is one of only two with a concentration in four of the biotech industry’s five major sectors, employing 60,000 workers at more than 2,000 bioscience establishments. The government plans to catch up with rival states in areas including capital formation, research commercialization and STEM (Science, Technology, Engineering and Math).

Previous State: South Carolina Next State: Arizona

No. 06 Indiana

Taxations & Regulations

Workforce Quality

Living Environment

Key Metrics
State GDP 

  • % Growth ’12-’13: 2.1
  • % Growth ’11-’12 v. Nat’l Avg. (2.5%): 0.8

Unemployment

  • Unemployment Rate Dec. 2013 %: 6.9
  • Comparison with Nat’l Rate (6.70%): 0.2

Domestic Migration

  • Domestic Net Migration 2013: -1,179
  • Rank: 25

State Government

  • State Debt per Capita Fiscal Year ’13 ($): 3,227
  • State & Local Gov’t Employees per 10k Residents: 536.3

State-Local Tax Burden

  • Rate (%): 9.6%
  • Compared to Nat’l Avg. (9.9%): -0.27%
Key Companies
  • Eli Lilly and Company
  • Republic Airways Holdings Inc.
  • Wellpoint
  • Steel Dynamics
  • Cummins
  • Nisource
Development Trend Indicator: Positive
Presses friendliness by trimming several taxes; right to work blossoms.
CEO Comments
“I have plants in Kentucky, Indiana and Ohio. Indiana is by far the best of the three for business climate. Ohio is gaining in recent years. But Kentucky remains mired in the past in terms of education and labor relations. And the state treasury’s own fiscal condition is ominous—at some point in the future that will make things even worse for business in Kentucky.” 

“Indiana rocks. Having strong government leadership and a balanced budget trickles down to decisions that affect the business environment.”


Based on CEO Survey by ChiefExecutive.net

Sources:
Bureau of Economic Analysis
Bureau of Labor Statistics
NewGeography.com
The Tax Foundation

About JP Donlon

JP Donlon
JP Donlon is the Editor-in-Chief of Chief Executive magazine.