Last month, Indiana led the nation in private sector job growth by adding 15,400 jobs making our private sector grow at six times the national rate. This marks the fourth largest one-month increase in 22 years.
During the last two years, the legislature has closely studied Indiana’s economic situation and implemented legislation that fosters economic growth and creates more jobs within our borders.
I authored legislation that has had an immediate impact on the landscape of the Hoosier economy. House Enrolled Act 1004, signed into law in 2011, cuts the corporate tax rate two percent, down to 6.5 percent over four years and significantly increases access to start-up capital for new companies.
Additionally, Right to Work (RTW) legislation was signed into law this session making Indiana the 23rd RTW state in the nation. Businesses have already heralded this policy as a key factor in choosing to expand and locate their business in Indiana.
To date, 45 companies have told the Indiana Economic Development Commission that RTW will be a factor in deciding whether to come to Indiana. Of those companies, 11 having already agreed to set up shop in Indiana and five specifically cited that RTW played a role in their decision.
One of those companies, Whayne Supply Company, announced this week that they will be expanding in Vanderburgh County due to lower taxes and Indiana being a Right-to-Work state. SealCorp USA, also announced they will be setting up shop in Evansville due to our pro-business; pro-jobs enviroment.
Both companies will bring needed jobs and investment to the community. I am happy to see that Southwest Indiana is benefiting from the recent Right-to-Work legislation enacted this session.
The legislation was created to help spur economic development within our state’s borders and we are beginning to see the success of Right to Work; job creation.