executives rank indiana best first in the midwest and 11th nationally 2009 best places for business...
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Executives Rank Indiana Best
First in the Midwest and 11th nationally• 2009 Best Places for Business survey of more than 500 chief executives
March, 2009
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CNBC Names Indiana Top State for Business Friendliness
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• Fourth nationally for overall “business friendliness”
July, 2009
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• First in the Midwest and sixth nationally July, 2008 3
National Leader for Low Cost of Doing Business
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Best in Midwest for Low Taxes
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First in the Midwest and 12th nationally (up from 14th in 2008)• Illinois (30th), Kentucky (20th), Michigan (17th), Ohio(47th)
September, 2009
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State Taxes and Spending: Origins and Destinations
Metropolitan area share of total taxes paid: 82.5%
Metropolitan area share of spending benefits: 76.7%Spread: -5.8%
Non-metro share of total taxes paid: 17.5%
Non-metro share of spending benefits: 23.3%Spread: +5.8%
Source: Intrastate Distribution of State Government Revenues and Expenditures in Indiana, Indiana Fiscal Policy
Institute (January 2010)
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State tax increases since beginning of recession
Source: State Tax Notes, various news clips
States where taxes may be going up
States that have raised taxes
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AAA Bond Rating – Best in History
One of 11 States with AAA rating• S&P cited state’s diversifying economy, budgeting, property tax reform and low debt as rationale for upgrade
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Best “sandbox” results in new jobs Major initiatives since 2005 aimed at improving Indiana’s competitiveness:
• Major Moves –Ten-year fully funded $12 billion highway plan that includes more than 200 new construction and 200 major preservation projects
• Telecommunications Reform - Indiana’s Telecommunications Deregulation Act has brought increased competition, leading to new investments and jobs
• Patent Income Exemption - Exempts certain income derived from qualified patents from the calculation of a company’s tax liability
• Buy Indiana – Pumps up to $1.2 billion back into the Indiana economy by directing state agencies to purchase goods from Indiana businesses
• Property Tax Relief – Cut property taxes by 1/3, capped property taxes on all classes of property, and eliminated nearly 1,000 township assessors
• Regulatory Reform – All state agencies align objectives to job growth
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Commitments for New Jobs and Investment
* As of 12/31/2009
• Since its creation, the IEDC has worked with over 800 businesses who have committed to create more than 100K new jobs and invest over $20B
• The average wage for new jobs committed in 2009 is $20.95/hour – above state average of $18.32/hour.
New Job Commitments
Billi
ons
2005 2006 2007 2008 2009
New Capital Investment Commitments2005 2006 2007 2008 2009
0
5,000
10,000
15,000
20,000
25,000
15,523
21,995 22,62718,659 19,955
$0.00$1.00$2.00$3.00$4.00$5.00$6.00$7.00$8.00$9.00
$2.77
$8.44
$3.38 $4.22$1.96
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Project Volume By Year
10• As of 12/31/2009
2005 2006 2007 2008 20090
20
40
60
80
100
120
140
160
180
200
142
186
158 151160