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The Scoop

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Verbatim: Indiana's business climate ranked best in the Midwest, 5th in U.S.

From a report received Thursday morning:

INDIANAPOLIS (Aug. 23, 2012) - Indiana was ranked as the best place to do business in the Midwest and the fifth best nationwide in the Pollina Corporate Top 10 Pro-Business States for 2012 study, co-published with the American Economic Development Institute. This is the fourth ranking in less than a year in which the Hoosier State's business climate has scored a top ten finish nationally.

The Pollina Corporate Top 10 Pro-Business States study, now in its ninth year, is based on 32 factors controlled by state government, including taxes, human resources, education, right-to-work legislation, energy costs, infrastructure spending, workers compensation laws, economic incentive programs and state economic development efforts. Indiana's ranking in the report has moved up 18 places since 2010, earning it the title of "most improved state" this year.

"Indiana's pro-business policies and solid fiscal house continue to earn national attention as a frontrunner for new jobs and investment," said Dan Hasler, Secretary of Commerce and chief executive officer of the Indiana Economic Development Corporation. "This ranking is the latest validation of this administration's focus since 2005 to make economic development efforts a top priority. Above all else, business climate matters and the pay-off for Hoosiers is new careers and opportunities."

Indiana's 5th place ranking makes it the only Midwestern state and the only Northern state in the publication's top ten. Among neighboring states, Kentucky ranked 28th, Ohio ranked 20th, Michigan ranked 39th and Illinois ranked 48th.

"Under Governor Daniels' leadership, Indiana became the first Great Lakes or New England state to become a right-to-work state," said Dr. Ronald R. Pollina, president of Pollina Corporate Real Estate, Inc. and co-author of the Pollina Corporate Top 10 Pro-Business States study. "Indiana legislators also made significant changes to their state's workers compensation regime. Indiana property taxpayers saw substantial saving compared to previous years thanks to statewide tax caps on their property tax bills. These factors were instrumental in raising Indiana's pro-business rank."

The Pollina Corporate Top 10 Pro-Business States study is the latest in a series of national accolades the Hoosier State's business climate has garnered. In July, CNBC named Indiana the fifth most business friendly state in the nation in its "America's Top States for Business" report. Also, Indiana's business environment recently scored a top five finish nationally in Chief Executive magazine's "Best & Worst States" survey of more than 500 chief executives released in May.

For Pollina Corporate's complete report, visit http://www.pollina.com/top10probusiness.html.

About IEDC

Created by Governor Mitch Daniels in 2005 to replace the former Department of Commerce, the Indiana Economic Development Corporation is governed by a 12-member board chaired by Governor Daniels. Dan Hasler serves as the chief executive officer of the IEDC.

The IEDC oversees programs enacted by the General Assembly including tax credits, workforce training grants and public infrastructure assistance. All tax credits are performance-based. Therefore, companies must first invest in Indiana through job creation or capital investment before incentives are paid. A company who does not meet its full projections only receives a percentage of the incentives proportional to its actual investment. For more information about IEDC, visit www.iedc.in.gov.

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