Davisson: Setting the standard for economic and business development

Posted by: Lindsay Devlin  | Monday, March 7, 2016

Hoosiers in every industry have worked tirelessly to establish Indiana’s reputation as the economic envy of the country. Continuing to create an environment fostering job growth and economic development will lead to continued progress in our state. Indiana has been recognized on numerous occasions for our economic and business climate in a wide range of publications.

Indiana ranked first in the Midwest for the best business climate in both the Business Facilities’ 2015 State Rankings Report and in the Area Development’s Top States for Doing Business Survey. Pacific Research Institute’s 50-State Index of Small Business Regulation ranks Indiana first in the nation for small businesses, while Forbes positions our state as eighth in the country in its Best States for Business study. These rankings are a testament to Indiana’s perseverance during the economic downturn and our continued commitment to creating a business-friendly environment and signal to employer that Indiana is a great place to establish a business.

This session, I was eager to support legislation that would facilitate growth of small businesses and entrepreneurship. Senate Bill (SB) 378 amends current Indiana Code to define the structure of the Indiana Economic Development Corporation (IEDC) and their role in supporting small businesses and assisting entrepreneurs. This legislation encourages the IEDC to offer access to its services for small businesses through a toll-free telephone number and web page. Another function of this bill is to consolidate the Economic Development Fund (EDF) and the Local Economic Development Organization (LEDO) fund. Both of these funds fulfill very similar purposes and merging the two programs will increase efficiency. Our goal is to continue building an environment in which small businesses can succeed.

The Indiana Office of Small Business and Entrepreneurship (ISBDC) is another state agency dedicated to assisting in business development. This office provides guidance and resources to entrepreneurs in the form of one-on-one consulting, strategic planning, market research, loan assistance and more. Because of the efforts of these organizations and hardworking Hoosiers, Indiana continues to lead the nation economically. Indiana’s employment rate of 4.4 percent, marks a decline of 6.4 percent since July 2009, ranking us second in the nation for our record-low unemployment. For more information on the ISBDC, visit isbdc.org.

Indiana’s dedication to maintaining a robust economy and providing the resources for entrepreneurs and employers to succeed sets us apart from other states. I will continue this effort to retain our status as a fiscal leader.

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Rep. Davisson represents parts of Washington, Orange, Lawrence, Jackson, Clark and Harrison Counties.