New study: Indiana a great place to do business
Over the past few weeks, Interim Study Committees have met to review legislation and make suggestions to the upcoming General Assembly. There was one study committee in particular that I wanted to address, the Interim Study Committee on Economic Development.
I believe Right to Work is already paying huge dividends. The Indiana Economic Development Corporation (IEDC) has already heard from 74 companies who have voiced to them that Right to Work (RTW) will be an important factor in their decision to relocate or expand their business. Even better yet, 57 of these companies have already moved to the pipeline stage which means a potential for over 7,500 jobs and an estimated $1.6 billion invested into Indiana’s economy. In addition to RTW, there have been a host of other pieces of legislation that have assisted in strengthening Indiana’s economy as well.
Through the years House Republicans have championed this issue through other initiatives, such as reducing the Corporate Income Tax Reduction, from 8.5 percent to 6.5 percent over four years, will look attractive to businesses looking to relocate. Property Tax Relief, which cut property taxes by one-third and established a constitutional cap on tax rates for all classes of property, is just another example of the legislation intended to strengthen Indiana’s economy. Home owners are already beginning to see the results of these property tax controls.
The potential for growth in Indiana is absolutely astounding, but more importantly, exciting. The title of “most improved state of the year” was recently bestowed on Indiana by the Pollina Corporate Top 10 Pro- Business States study. In the study, Indiana improved its rankings 18 spots since 2010 to fifth place in the country and first in the Midwest.
I will continue to keep you updated on any progress at the Statehouse. If you have any questions, comments or concerns, please contact me by calling (317) 234-2993 or by email at h85@IN.gov.