Indiana Governor Mitch Daniels is fond of quoting a lesson he learned as a young short stop in little league: "You have to play the ball. Don't let the ball play you." If a ground ball is coming your way, it's better to step up and aggressively play the ball rather than wait passively for the ball to bounce past you.
In other words, "Don't just stand there. Do something."
There may be no better example of the Governor's "go for it" style than the activity surrounding the Indiana Economic Development Corporation (IEDC). The IEDC is the state of Indiana's lead economic development agency, organized as a public private partnership governed by a twelve-member board, chaired by the Governor. It was created roughly three years ago through bipartisan cooperation of Governor Daniels and the Indiana General Assembly. In order to respond quickly to the needs of businesses, the IEDC operates like a business.
One of the IEDC's biggest responsibilities is to be the chief salesperson for our state. The IEDC has helped lead the Governor's five trade missions to Europe, Japan, Taiwan and other parts of Asia. The IEDC also provides the statistical analysis needed to attract businesses to Indiana. For example, did you know that Indiana has one of the lowest industrial energy costs in the nation, some of the lowest business tax rates in the nation, and the lowest workers compensation costs in the Midwest?
The IEDC has been integral to head line grabbing, high profile job creation efforts with international companies like Honda, Toyota, IBM, Nestle and Wellpoint. But, 2005 and 2006 were record breaking years at the IEDC in a far broader way, with 13,500 new job commitments in 2005 and 22,540 in 2006 alone.
According to Indiana senior executives, who were recently surveyed as part of a collaborative effort by Ice Miller, Butler University and Gerry Dick, the life science and information technology (IT) sectors are expected to be a large part of Indiana's future job growth. Indiana is already a leader in life sciences as the home to such industry leaders as Eli Lilly and Company, Biomet, Cook Group, Inc. and Zimmer. But, we must do more in the coming years to help move Indiana from a largely manufacturing and agricultural economy to a more competitive state for other sectors of the economy.
Our state colleges and universities are already stepping up to this challenge. Purdue Research Park (PRP) is the #1 university research park in the country (Association of Research Parks). IU’s Emerging Technologies Center is one of the fastest growing incubators in the nation. Rose-Hulman is the nation’s #1 Masters level engineering school (U.S. News & World Report). And, Ball State University ranks #1 for wireless campuses (Intel Corporation - in conjunction with the Center for Digital Education).
The General Assembly is doing its part as well. The last several state budgets have provided state funding to jump start high tech initiatives. These efforts have helped Indiana University take a lead in the development of life science opportunities and helped Purdue University lead in the manufacturing sector by utilizing incubators in West Lafayette and Merrillville and other campuses. In coming years, our state may need to consider additional funding and even more aggressive tax incentives to the life science and IT industries for future job growth.
A world class state economy will require a world class state infrastructure. And, with one bold move, the Governor's Major Moves road funding package erased the state's $3 billion transportation deficit and delivered a 10 year road and bridge plan that will complete over 200 projects and create more than 130,000 Hoosier jobs. This project will help improve present roads and highways and position the state to finally be able to connect Evansville with Indianapolis and also the Highway 31 corridor which provides direct routes to many major cities in North Central Indiana. We have already seen the effects of major moves legislation which gave the IEDC the opportunity to utilize funds to build infrastructure for the Honda plant in central Indiana.
In Lake and Porter counties, the idea of mass transportation is taking shape by extending the present commuter railroad to communities in Lake and Porter County. The idea behind this extension is the access to Chicago which creates both economic and cultural benefits for people in Northwest Indiana.
All of these initiatives prove that Indiana is stepping forward and on the right track. In large part, Indiana CEOs and senior executives agree. But hard work lies ahead. It's only through the collaborative efforts of state governments, local municipalities and businesses that we will truly be able to see Indiana grow and prosper.
This publication is intended for general information purposes only and does not and is not intended to constitute legal advice. The reader must consult with legal counsel to determine how laws or decisions discussed herein apply to the reader's specific circumstances.
Bob Kuzman is a partner at Ice Miller concentrating his practice in governmental affairs. Bob can be reached at: 317-236-5977 or Robert.kuzman@icemiller.com. Luke Messer is a partner in Ice Miller's Public Affairs Group. Luke can be reached at: 317-236-5852 or luke.messer@icemiller.com
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