Recently, Indiana was ranked No. 1 by U.S. News and World Report for having the top state government in the country. In addition to receiving this honor, Indiana is being recognized for other noteworthy achievements.
Chief Executive magazine recently surveyed more than 500 CEOs throughout the country for their list of “Best and Worst States for Doing Business.” The list favors states with friendly tax and regulatory climates, a quality workforce and strong living environments, and takes into consideration cost of living, education and state and local attitudes toward business. Indiana was ranked as the No. 1 state in the Midwest for doing business and fifth nationwide.
As pointed out in this list, Indiana’s tax climate is one to be rivaled. Hoosier taxpayers are expected to save roughly $1.7 billion through 2021 because of individual income tax cuts. Indiana businesses will also save almost $2 billion in corporate and institution tax cuts, continuing our legacy as a state where job creators want to do business. Our pro-business environment will continue to support our economy and encourage more companies to locate and expand here, increasing the number of job opportunities statewide. Along with our tax climate, the report also cites the potential of our new, long-term infrastructure plan to strengthen the state’s ability to compete economically and increase the quality of life for Hoosiers.
According to Moody’s Investor Service State Debt Medians report, Indiana has the sixth lowest public tax-supported debt in the country. Moody’s latest nationwide analysis estimates that Indiana’s public debt equates to only about $306 per taxpayer, which is less than 1 percent of the average taxpayer’s personal income. Our debt-service ratio of less than 1 percent is much lower than our neighboring states, like Illinois and Kentucky which have 8.1 percent and 7.7 percent, respectively. The low public debt in Indiana is a testament to the continued efforts to craft a balanced and fiscally responsible budget year after year. Ensuring that the state lives within its means and aiming to maintain a AAA credit rating has led to this low debt and has benefitted Hoosiers throughout the state.
I am confident that Indiana will continue to be recognized for the great work Hoosiers are doing to make this the state where people want to live and do business. Please continue to contact me with questions and comments at 317-232-9793 or h74@iga.in.gov. You can sign up to receive my newsletter for regular updates during the summer months at www.in.gov/h74.
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State Rep. Lloyd Arnold (R-Leavenworth) represents House District 74,
which includes portions of Spencer, Dubois, Perry, Crawford and Orange counties.
A high-resolution photo of Arnold can be downloaded by clicking here.
