The state of Indiana is in the Midwestern and Great Lakes regions of the United States.
It is between Kentucky and Michigan, with Ohio and Illinois sharing its border. Indiana, being the 17th most populous U.S state, contains almost 6.7 million people. It has an area of 36,418 square miles.
A significant proportion of Indiana’s income is from manufacturing. Dating back to 1975, Indiana has long earned the honor of being the largest U.S steel producing state. Situated in northwest Indiana, the Calumet region provides 17% of total U.S steel reserves. Calumet is the largest U.S single steel producing region.
Auto manufacturing also has an extensive infrastructure in Indiana. It is the second largest auto manufacturing state. Indiana also manufactures medical devices, transportation equipment, and rubber. Factory machinery, automobiles, and chemical products are some of the other Indiana products.
Indiana’s state motto is “The Crossroads of America.” The state has a progressing transportation industry. It has an advantage in that 75% of the U.S regions are within a day-long drive. Thus, locomotive, trucking and warehousing are a prominent and vital sector of Indiana. The state has ports on the Ohio River and on Lake Michigan to aid this industry.
Indiana is also a global logistics leader, offering businesses a robust competitive advantage with its access to North American and world markets. Its logistics and transportation industry provides more than a hundred thousand jobs. This industry accounts for over 4 percent of jobs in the state. The concentration level is 44 percent more than the nationwide average.
Indianapolis is the leading sponsor of marketing related to IT and online advertisement. There is constant growth in the industry. Indiana has first-rate universities. They provide graduates at a fast rate while boosting technology-related business.
The state of Indiana joins educational values with fun experiences and offers many tourist attractions, including the Snite Museum of Art and the Studebaker National Museum. There’s also the infamous WonderLab Science Museum. For people who love the outdoors, there are hiking trails with enchanting scenery. There’s also Prophetstown State Park and campsites like Indiana Dunes National Lakeshore, all of which influence the increase of hotels and restaurants in such places. Their popularity could attract a large number of people while boosting the business.
Business in Indianapolis
Indianapolis is the core transportation, industrial, and commercial center of the state. It also serves in that role for the Midwest. An enlarged economic base assists Indianapolis. The city’s prominent industry was manufacturing up until the 1980s. Retailing and services have now replaced this industry. Indianapolis is home to the country’s top sporting events. Each significant sporting event enhances the economy by tens of millions of dollars. It expands the business opportunities while amplifying the tax payments to the city. The major economic factors are the hotel industry, including conventions and tourism.
In Indianapolis alone, the labor force is about one million skilled local workers. Labor estimates show that the worker productivity rate in Indianapolis is very high. In fact, it is higher than the national average. Thus, Indianapolis aids in providing a further boost to the state’s evergreen economy. This achievement is partly due to the diversity within the vast economy of Indiana. Companies find value in the skilled labor force, transportation, and quality of life. The state also offers business incentives. Thus, it provides many opportunities for investors for business and start-ups.
Indiana has a favorable business climate. The state’s business infrastructure continues is robust and the state continues to improve economic policy, development and incentives. Thus, there are tremendous advantages for investing, start-ups, and business in Indiana. Another advantage is the passionate hard-work of the workforce. Companies have access to top financial professionals, elected officials, and non-profit organizations.