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The State Growth Engine: Back to the Future?

The State Growth Engine: Back to the Future?. Kevin T. McNamara Department of Agricultural Economics Purdue University June 16, 2004. Today’s Objectives. Examine the Structure of the Indiana Economy Discuss the Challenge of Growth in a New Economic Environment. Indiana Economy.

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The State Growth Engine: Back to the Future?

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  1. The State Growth Engine:Back to the Future? Kevin T. McNamara Department of Agricultural Economics Purdue University June 16, 2004

  2. Today’s Objectives Examine the Structure of the Indiana Economy Discuss the Challenge of Growth in a New Economic Environment

  3. Indiana Economy Economic Sectors Size and structure

  4. Indiana Gross State Product = $189.9 billion $52 billion $138 billion Source: Bureau of Economic Analysis, U.S. Department of Commerce

  5. Total Indiana Employment = 3,598,409 Source: Bureau of Economic Analysis, U.S. Department of Commerce

  6. 182% of Non Manufacturing Wage Source: Bureau of Economic Analysis USDC

  7. Indiana in the New Economy Can Indiana Compete for Economic Growth in the New Economy?

  8. WHAT IS THE NEW ECONOMIC ENVIRONMENT? Productivity Growth Profitability Investment Low Inflation Low Unemployment Equitable Income Distribution

  9. WHAT IS ITS DRIVING FORCE ? GLOBALIZATION COMPETITION FOREIGN INVESTMENT

  10. WHAT IS ITS DRIVING FORCE? GLOBALIZATION INDUSTRIAL RESTRUCTURING MODERNIZATION INFORMATION SMALL BUSINESS SERVICE ECONOMY

  11. WHAT IS ITS DRIVING FORCE? GLOBALIZATION INDUSTRIAL RESTRUCTURING INNOVATION TECHNOLOGICAL INNOVATION TELECOMMUNICATIONS INTERNET QUALITY

  12. WHAT IS ITS DRIVING FORCE? GLOBALIZATION INDUSTRIAL RESTRUCTURING INNOVATION PUBLIC POLICY REGULATION/DEREGULATION SPENDING DEVELOPMENT POLICY

  13. WHAT ARE THE ATTRIBUTES OF THE NEW ECONOMY? HIGH TECH PRODUCTS IT GOODS AND SERIVES INTERNATIONAL MARKETING/COMPETITION BUSINESS-TO-BUSINESS COMMERCE RETAIL E-COMMERCE

  14. PUBLIC INTEREST IN THE NEW ECONOMY INCOME AND EMPLOYMENT GOVERNMENT REVENUE/EXPENDITURES TECHNOLOGY POLICY LONG TERM ECONOMIC GROWTH AND PRODUCTIVITY

  15. Can Indiana Compete in the New Economy? Indiana is competing? Economy of today different than the economy of yesterday Agglomeration, IT infrastructure and Education are critical growth factors Urban areas versus rural areas

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