INDIANAPOLIS (March 31, 2020) – The Indy Partnership announced today the region supported $2.4 billion in investment creating over 9,300 jobs in 2020 with strong signs of continuing that trend as we progress into 2021.
Throughout the past year, the Indy Region has continued to persevere through the pandemic and capitalize on its diversity in industry while maintaining a focus on growth and prosperity. The region’s largest sectors in the pipeline for 2021 are manufacturing, financial institutions and logistics.
In a recent article of Site Selection Magazine, the Indy Region was ranked number one in the “2020 Top Metros by Projects Per Capita” category, beating out both Austin and Chicago for the number of economic development projects in relation to population.
“This ranking shows that our regionalism is working. We’ve made tremendous efforts over the last few years to bring together the nine-county region and work collectively, not just on marketing and attraction but also on the deeper issues that drive economic development,” says Andrew Crecelius director of strategy and global initiatives with the Indy Partnership. “We will continue to push for regional collaboration, planning, and development; and, as we prosper, we will work to ensure that growth is inclusive across the region.”
With the increase in investment comes new job opportunities, which further fuel the Indy Region’s talent attraction efforts. In recent years, Indianapolis has witnessed that talent pool diversify, as the non-white population grew by 3.2%, a trend expected to increase. Population diversity not only helps to support the range of industries and their employment needs, but has also been proven historically to have a positive impact on economic development in both the short and long term.
As our population diversifies and continues to migrate throughout the region, commute and travel time become more critical to residents and businesses when deciding where to locate. Last year, Indianapolis fell below the national average in the number of minutes it takes to travel to work, also beating out Denver, CO and Nashville, TN.
Short commute time is a prominent statistic when looking to attract talent to the region, in addition to school systems, average income and a number of other factors. A labor market data company found Hamilton and Hendricks counties are among the highest in the nation for attracting skilled talent. This was determined after compiling the 2020 Talent Attraction Scorecard, based on criteria including net migration, overall job growth and educational attainment.
“The region has been recognized as a leading location in attracting skilled talent because of the limitless opportunities for employees to grow, flourish and succeed in our dynamic economy,” said Brian Bilger, executive director at Hendricks County Economic Development Partnership.
To encourage and support this regional success, Indy Partnership has engaged in many initiatives geared toward business development growth and overall impact including participation at economic development conferences, trade shows and many site selection panels. “Developing and participating in these collaborative, growth-focused programs and initiatives allows us to better inform and educate the region,” said Paula VanDeVanter, director of client services at Indy Partnership. “This knowledge helps to strengthen partnerships in both the private and public sectors, which promotes prosperity throughout the Indy Region and ultimately the State of Indiana.”
Strength in partnerships has been a key blueprint for success between the Indianapolis region and State of Indiana. According to the Bureau of Economic Analysis, the Indianapolis MSA accounts for over 37% of the entire state’s GDP. Continued focus on productive legislation and incentive-based strategies that help connect people, employers and neighborhoods will be crucial for a more resilient, post-COVID economy.
ABOUT INDY PARTNERSHIP:
Indy Partnership is a regional economic development organization supporting nine Central Indiana counties including Boone, Hancock, Hamilton, Hendricks, Johnson, Madison, Marion, Morgan, and Shelby. With a strong focus on business and talent attraction, retention and expansion, Indy Partnership strives to elevate the Indy Region as a great place to live, work and do business while also fostering impactful relationships for sustainability and growth.