Want to dive deeper into the details of our priorities? Follow the link below to access the full Legislative Agenda:
Business
HOOSIER ENTREPRENEURSHIP
Background: Indiana’s higher education assets and history of successful startups create a robust environment for entrepreneurship. However, we launch significantly fewer new ventures than similarly sized coastal markets and have less venture capital available ($5 billion in Indiana vs. $320 billion in Boston).
- New R&D ventures were launched at two times the rate in Boston than Indy over the last 20 years.
- Boston’s venture capital ecosystem is currently valued at $320 billion, compared to Indiana at $5 billion.
Policy Solution: Support continued investment by the state into venture capital to support companies in the growth phase and continue to optimize the state’s tax climate to encourage both starting and growing young companies.
Place
ROAD FUNDING
Background: To support Hoosier communities’ ability to maintain and accelerate economic growth, Indiana needs an additional $2.4 billion in revenue to repair local infrastructure in poor condition.
Policy Solution: Support policies that increase available funding for local road funding infrastructure.
- New Revenue: Increase the available resources for local roads and streets, state-maintained right of way, and transformational infrastructure investments by establishing fuel-agnostic revenue streams with long-term projected growth. Examples include tolling, choice or HOT lanes, regionally based tax options, or a mileage-based user fee pilot.
- Distribution: Support a growth-positive distribution formula where dollars follow traffic while also ensuring all infrastructure is maintained at a high level.
- Transformation: Support collaborative efforts between INDOT, local communities, and the private sector, like the redesign of the Inner Loop interstate system, which aims to reconnect the Indy region, renew downtown neighborhoods, and catalyze Indiana’s economic development.
People
TALENT ATTRACTION & RETENTION
Background: The single greatest barrier to continued economic growth in the Indy region – and across the Hoosier state – is a limited skilled workforce.
- There are approximately 140,000 unfilled jobs in Indiana today. This number is expected to continue to grow as business investment and job creation continue to outpace the growth of our skilled workforce – which is currently forecasted to grow by just 110,000 from 2025 to 2050.
- Indiana is a top 10 importer of college students, with more than 25,000 non-residents enrolling in an Indiana college or university. Unfortunately, Indiana is also a top exporter of college graduates, with 34,000 departing the state each year.
Policy Solution: Support state funding for talent attraction and expand existing eligibility beyond remote workers, allocate funds for college graduate retention programs, and explore individual tax incentives for graduates.
POST-SECONDARY ACCESS
Background: By 2031, 72% of jobs in the U.S. will require education or training beyond high school. Indiana faces a shortfall in meeting this demand with only 39% of adults 25 years and older holding an associate degree or higher.
Policy Solution: Support the establishment of a statewide framework to encourage employer engagement in the Indiana Apprenticeship Pathway while ensuring continued state support for college enrollment, including first-generation students.
CIGARETTE TAX
Background: Tobacco use drives health challenges and high healthcare costs, which means higher insurance premiums, less money toward wages, and more tax dollars to support publicly funded Medicaid—paid for by Hoosier taxpayers and businesses.
- 63.6% of likely voters support increasing the tax on tobacco while only 22.6% oppose an increase.
- Indiana has the eighth-highest smoking rate in the United States.
- Annual healthcare expenditures directly caused by tobacco use in Indiana equal $3.4 billion.
Policy Solution: Support increasing the tax on cigarettes by $2 per pack to reduce smoking rates, lower healthcare costs, and generate approximately $360M in annual revenue.