This summer has felt like one of the hottest summers we’ve had in Indiana a long time. We’ve seen so many consistent 90 degree weather days and the humidity has been off the charts. But fortunately, we have been lucky in having some days in the 80’s and even in the 70’s recently.
It is refreshing to know that even though temperatures might be slowly declining to prepare for the fall season, the Hoosier economy hasn’t cooled. Unlike our neighboring states, Indiana continues to succeed in creating jobs and improving our economy.
Last month, State Auditor Tim Berry outlined our state’s strong fiscal health, which is a result of our ability to govern efficiently and Hoosier’s willingness to live within their means. Despite the many economic obstacles and revenue shortfalls over the last year, Indiana is one of the few states in the black. In fact, Indiana spent 5.5 percent less than what was allocated in 2010 and ended with a reserve balance of $1.18 billion.
While many leaders across the nation continue to implement tax increases or spend money they don’t have, Indiana’s leaders refuse to raise taxes on Hoosiers and still manage to come out ahead.
Here in the Hoosier state, instead of raising taxes, we are opening the doors to economic development and businesses ventures by reducing the corporate tax rate and passing targeted tax credit legislation designed to encourage investment. These policies will enable more businesses to come to Indiana thereby creating more jobs for Hoosiers. Creating jobs for Hoosiers will always be priority.
Additionally, we worked to increase access to start-up capital, provide additional economic development tools for local governments and create tax incentives for businesses to renovate old, unused factories.
I agree with Auditor Berry, in saying that our progress is a direct result of strong leadership, which in turn has brought businesses to our great state. Businesses want a predictable economic climate so they can strategically plan their growth.
Since 2005, our state has had 1,125 different businesses, pledge to create 132,931 jobs and invest $26.9 billion in their Indiana operations. In 2011 alone, we have had 11,187 private sector jobs promised with $1.73 billion in capital investment.
We have seen many jobs come to our own communities. Franciscan Alliance is bringing 84 jobs to Johnson County; Cummins, Inc. is adding 600 more jobs in Bartholomew County; ET Works, LLC is bringing 60 jobs to Morgan County; and several companies are adding more than 1,400 jobs in Marion County.
Saying Indiana is leading the way through this recession, despite all the economic obstacles thrown in its path, is a fair statement. We have made considerable progress in Indiana to find innovative ways to rebound from the recession and adding more jobs will continue to be my top priority.
