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“Government does not create jobs; it only creates

“Government does not create jobs; it only creates the conditions that make jobs more or less likely.” Governor Mitchell E. Daniels, Jr. State of the State Address, January 18, 2005. Indiana Economic Development Corporation.

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“Government does not create jobs; it only creates

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  1. “Government does not create jobs; it only creates the conditions that make jobs more or less likely.” Governor Mitchell E. Daniels, Jr. State of the State Address, January 18, 2005

  2. Indiana Economic Development Corporation • The IEDC is a public-private partnership governed by a 12 member board chaired by Governor Mitch Daniels. • The IEDC is focused exclusively on economic development and has incorporated all state entities with economic development responsibilities.

  3. 2011 Business Development Regional Map Confidential - Draft

  4. Building the ‘Best Sandbox’ • AAA Credit Rating • Financial Stability • Indiana has the lowest business costs in the Midwest and is one of the top 10 lowest cost locations in the U.S. • Forbes (Oct. 2010). • Leading the Nation in Job Growth • Per capita Indiana was 7th in the nation in private sector job growth for 2010

  5. Executives Rank Indiana Best A Midwest leader and 16th nationally Best and Worst States for Business 2010 Survey of more than 650 chief executives

  6. CNBC Names IndianaTop State for Business • Fourth nationally for overall “business friendliness”

  7. 10TH LOWEST BUSINESS COSTS Indiana has the 10th lowest business costs in the nation, based on labor, energy and taxes. Source: Forbes magazine, October 2010

  8. Best in Midwest for Low Taxes • 1st in the Midwest • and 10th nationally • Illinois (23rd), Kentucky (19th), • Michigan (17th), Ohio(46th) October, 2010

  9. 2010 In Review • Record Breaking Year • 200 Projects • 23,017 Projected Job Commitments • $23.02 Projected Average Wage • $4.38 Billion in Projected Capital Investment

  10. Private Sector Job Projections Year-to-Date • As of 5/23/11

  11. Private Sector Investment Projections Year-to-Date • As of 5/23/11

  12. Total Competitive Projects Year-to-Date • As of 5/23/11

  13. HoosierAverageWage • As of 5/23/11

  14. Low Cost of Incentives Yields Quicker Return • Direct state incentives include tax credits, training grants and infrastructure assistance • Tax credits are performance-based linked to IEDC certification of new jobs • Average time of return on investment: approximately 2 years • As of 5/23/11

  15. Business Incentives • EDGE – Tax Credit for hiring; competitive project. • HBI – Tax Credit for investment; competitive project. • SEF – Training Grant; competitive and non-competitive projects. • IDGF – Community Grant; competitive project.

  16. 2011 Legislative Summary • Balanced Budget • Corporate Income Tax Reduction • Reduced over 4 years from 8.5% to 6.5%, beginning in 2012. • No New Taxes

  17. Reasons for Success • Assembled experienced economic development team • Streamlined processes • MARKETABLE PRODUCT

  18. IEDC Contacts • Chad Pittman • Executive Vice President • cpittman@iedc.in.gov • 317-233-4459 • Mindy Kenworthy • Central Region Director • Mkenworthy@iedc.in.gov • 317-234-4088 • David Behr • North Central Region Director • dbehr@iedc.in.gov • 574-288-6834 • Jim Staton • Northwest Region Director • jstaton@iedc.in.gov • 219-644-3694 • Charlie Sparks • Vice President • csparks@iedc.in.gov • 317-233-5122 • Brook Steed • Northeast Region Director • bsteed@iedc.in.gov • 260-436-3000 • Trevor Lane • Southeast Region Director • tlane@iedc.in.gov • 812-346-1895 • Dorrie LoBue • Southwest Region Director • dlobue@iedc.in.gov • 812-492-4415

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