2014 Regional Report: The Midwest
Warren Strugatch
Indiana (No. 6): Inventing Incentives
Hammered during the Great Recession, Indiana’s sluggish recovery is edging back to 2007 employment levels. Bright spots include recreational vehicle manufacturing, growing at the rate of 7.5 percent annually and a vibrant life sciences sector. There’s “effective economic development at the state level,” says Darin Buelow, a principal with Deloitte’s Real Estate & Location Strategy services in Chicago. “They are winning major projects and then some,” including Nestlé’s large production plant in Anderson.
The Tax Foundation ranks Indiana 22nd highest out of 50 states in tax burden, and 10th in business tax climate. The Hoosier State spends over $921 million a year on incentive programs, according to The New York Times state subsidy database.
North Dakota (No. 12): Going for the Gas
Thanks to oil and gas, North Dakota’s economic output has more than doubled since 2002, approaching $50 billion a year in 2013. Gross domestic product rose 5.4 percent over the previous year. Other growth industries include real estate, agriculture and mining. In July, unemployment sunk to 2.8 percent in America’s tightest labor market. Says Deloitte’s Buelow: “The overriding challenge today is the labor shortage.”
The Tax Foundation ranks North Dakota 35th out of 50 states for tax burden and ranked its business tax climate 28th. The state’s “been very proactive in [readjusting] its tool kit in terms of incentives,” says Tracey Hyatt Bosman, managing director at Biggins Lacy Shapiro & Company, a commercial real estate firm in Chicago. North Dakota spends over $32.9 million a year on corporate incentives, according to The New York Times subsidy database.
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1:00 - 5:00 pm
We are in a period of rapid change. Customer needs, technologies, competitors and internal capabilities require companies to review and update their strategies for the new realities. In this workshop, strategy experts Steve Rutan and Denise Harrison will show you a systematic approach to strategic planning to help you refine or redefine your business strategy and approach including:
2:00 - 5:00 pm
Female leaders face the same issues all leaders do, but they often face additional challenges too. In this peer session, we will facilitate a discussion of best practices and how to overcome common barriers to help women leaders be more effective within and outside their organizations.
Limited space available.
10:30 - 5:00 pm
General’s Retreat at Hermitage Golf Course
Sponsored by UBS
General’s Retreat, built in 1986 with architect Gary Roger Baird, has been voted the “Best Golf Course in Nashville” and is a “must play” when visiting the Nashville, Tennessee area. With the beautiful setting along the Cumberland River, golfers of all capabilities will thoroughly enjoy the golf, scenery and hospitality.
The golf outing fee includes transportation to and from the hotel, greens/cart fees, use of practice facilities, and boxed lunch. The bus will leave the hotel at 10:30 am for a noon shotgun start and return to the hotel after the cocktail reception following the completion of the round.
