July/August 2017 – BizVoice/Indiana Chamber
13
workforce, improving our per capita income rank will be difficult and
reaching our three postsecondary attainment goals impossible.
Companies are not able to meet their talent needs, negatively
impacting their job and growth prospects. Talent is the number one
factor in ultimate individual, business, community and state success.
Indiana has much work left to do.
Attractive Business Climate
As we’ve noted in previous Report Cards (2013 and 2015), this is
Indiana’s leading area of strength as a result of previous dedicated efforts.
The driver is a diverse one. A few highlights:
• The numbers tell us government spending is generally kept under
control. What they don’t reveal is the inefficiencies that result from
too many local units – townships and school districts being the
primary examples.
• Indiana’s regulatory and legal climates rate highly – both statistically
and in practical application.
• The state’s tax climate is highly regarded in most areas, although
existence of the business personal property tax remains a black
mark. A new metric (business taxes per share of government
expenditures benefitting businesses) shows Indiana companies paying
$1.20 for every $1.00 received in services.
The biggest concerns are in the health care metrics. The eternal
optimist will point to a decrease in Indiana’s adult smoking rate – from
more than 25% earlier this decade to 20.6% in the latest numbers – and
a six-state improvement in obesity rates. But nearly a third of adults
still being obese and that state rank of 36th are nothing to celebrate.
The unhealthy lifestyle choices have led to tragic outcomes – high
cancer and diabetes rates to name a few – for years. Recently,
Hoosiers in growing numbers in both urban and rural locations have
succumbed to a deadly opioid epidemic with widespread impacts on
families, communities and businesses. Addictive behaviors are a
common theme connecting smoking and use of stronger drugs.
The workforce survey results shed some additional light, with
employers reporting an increasing difficulty in finding job candidates
who can pass a drug screening test. While 56% drug test employees
DYNAMIC & CREATIVE CULTURE
Achieve a "Top 12" ranking among all patents per worker
Utility Patents
(Patents per 100,000 workers)
Indiana, 2009-2015
2009
2011
2013
2015
State Ranking (1 = best)
50
43
36
29
22
15
8
1
1. California . . . . . . . .246.67
2. Washington . . . . . . .204.24
3. Massachusetts. . . . . .197.69
4. Minnesota . . . . . . .158.25
5. Vermont. . . . . . . . .146.88
22. Indiana. . . . . . . 69.10
46. Hawaii. . . . . . . . . 19.91
47. Arkansas. . . . . . . . 19.78
48. West Virginia. . . . . . 18.24
49. Mississippi . . . . . . . 12.38
50. Alaska . . . . . . . . . 12.06
U.S. Average. . . . . . . .101.06
State
Per 100,000 Workers State
Per 100,000 Workers
U.S. Trade and Patent Office; U.S. Bureau of Labor Statistics
Design Patents
(Patents per 100,000 workers)
Ind ana, 2009-2015
2009
2011
2013
2015
State Ranking (1 = best)
50
43
36
29
22
15
8
1
1. Oregon . . . . . . . . . 20.59
2. Washington . . . . . . . 20.56
3. California . . . . . . . . 19.82
4. Wisconsin . . . . . . . . 18.61
5. Colorado . . . . . . . . 16.76
19. Indiana. . . . . . . .8.12
46. North Dakota . . . . . . 2.06
47. Louisiana . . . . . . . . 1.97
48. Alaska . . . . . . . . . . 1.81
49. Wyoming . . . . . . . . 1.42
50. West Virgi ia. . . . . . . 1.01
U.S. Average. . . . . . . . 10.28
State
Per 100,000 Workers State
Per 100,000 Workers
U.S. Trade and Patent Office; U.S. Bureau of Labor Statistics
Achieve "Top 12" ranking among all states in venture capital invested per capita
Venture Capital Invested, Three-Year Rolling Average
(Per worker)
Indiana, 2008-2016
2008-10
2010-12
2012-14
2014-16
State Ranking (1 = best)
50
43
36
29
22
15
8
1
The U.S. median in this measure ($84.64) is informative due to the average
being skewed by results from the top two states. Indiana, nevertheless, continues
to struggle in this area.
1. California . . . . . . $2,506.24
2. Massachusetts. . . . $2,001.65
3. New York . . . . . . . $887.91
4. Utah . . . . . . . . . $739.58
5. Washington . . . . . . $571.86
35. Indiana. . . . . . $39.31
46. West Virginia. . . . . . $8.49
47. Hawaii. . . . . . . . . $7.10
48. Mississippi . . . . . . . $3.83
T49. Alaska . . . . . . . . $0.00
T49. North Dakota . . . . . $0.00
U.S. Average. . . . . . . $536.26
State
VC Dollars State
VC Dollars
PriceWaterhouseCoopers; U.S. Bureau of Labor Statistics
Venture capital, one of 62 metrics in the Report Card, is in need of improvement.
Indiana Vision 2025
INDIANA CHAMBER FOUNDATION
PLOYER WORKFORCE SURVEY
MEETING TALENT NEEDS IS OUR
BIGGEST OR NEXT BIGGEST CHALLENGE
2014
2015
2016
2017
70%
72%
74%
76%
78%
80%
LEFT JOBS UNFILLED DUE TO
UNDER-QUALIFIED APPLICANTS
2014
2015
2016
2017
30%
35%
40%
45%
50%
MEETING TALENT NEEDS IS OUR
BIGGEST OR NEXT BIGGEST CHALLENGE
2014
2015
2016
2017
70%
72%
74%
76%
78%
80%
2014
2015
2016
2017
30%
Key Workforce Survey Findings