Transcript Executives Rank Indiana Best

Executives Rank Indiana Best
First in the Midwest and 11th nationally
•
2009 Best Places for Business survey of more than 500 chief
executives
March, 2009
CNBC Names Indiana Top State
for Business Friendliness
• Fourth nationally for overall “business friendliness”
2
July, 2009
National Leader for Low Cost of Doing Business
• First in the Midwest and sixth nationally
July, 2008
3
Best in Midwest for Low Taxes
First in the Midwest and 12th nationally (up from 14th in 2008)
•
Illinois (30th), Kentucky (20th), Michigan (17th), Ohio(47th)
4
September, 2009
State Taxes and
Spending: Origins
and Destinations
Metropolitan area share of total
taxes paid: 82.5%
Metropolitan area share of spending
benefits: 76.7%
Spread: -5.8%
Non-metro share of total taxes paid:
17.5%
Non-metro share of spending
benefits: 23.3%
Spread: +5.8%
Source: Intrastate Distribution of State Government
Revenues and Expenditures in Indiana, Indiana Fiscal Policy
Institute (January 2010)
State tax increases since beginning of recession
States that
have raised
taxes
States where
taxes may be
going up
6
Source: State Tax Notes, various news clips
AAA Bond Rating – Best in History
One of 11 States with AAA rating
• S&P cited state’s diversifying economy, budgeting, property tax reform and low
debt as rationale for upgrade
Best “sandbox” results in new jobs
Major initiatives since 2005 aimed at improving Indiana’s competitiveness:
•
Major Moves –Ten-year fully funded $12 billion highway plan that includes more than
200 new construction and 200 major preservation projects
•
Telecommunications Reform - Indiana’s Telecommunications Deregulation Act has
brought increased competition, leading to new investments and jobs
•
Patent Income Exemption - Exempts certain income derived from qualified patents
from the calculation of a company’s tax liability
•
Buy Indiana – Pumps up to $1.2 billion back into the Indiana economy by directing state
agencies to purchase goods from Indiana businesses
•
Property Tax Relief – Cut property taxes by 1/3, capped property taxes on all classes of
property, and eliminated nearly 1,000 township assessors
•
Regulatory Reform – All state agencies align objectives to job growth
Commitments for New Jobs and Investment
New Job Commitments
25,000
20,000
15,000
21,995
10,000
22,627
15,523
18,659
19,955
2008
2009
5,000
0
2005
2006
2007
New Capital Investment Commitments
$10.00
Billions
$8.00
$6.00
$8.44
$4.00
$2.00
$3.38
$2.77
$4.22
$1.96
$0.00
2005
2006
2007
2008
2009
* As of 12/31/2009
• Since its creation, the IEDC
has worked
with over 800 businesses
who have committed to
create more than 100K
new jobs and invest over
$20B
• The average wage
for new jobs committed in
2009 is $20.95/hour –
above state average of
$18.32/hour.
Project Volume By Year
200
180
186
160
140
158
142
160
151
120
100
80
60
40
20
0
2005
2006
2007
2008
2009
•
10
As of 12/31/2009