Indiana Takes Investment Worthiness Pulse

The Indiana Dept. of Commerce surveyed several site consultants and business executives about the state's investment climate. The survey contained mixed news in comparing Indiana with other states in their appeal to 240 consultants and executives who help decide where businesses locate. The state ranked third overall in percentage of responses totaling very good or excellent. But only 5 percent of the respondents classified Indiana as excellent, last among the field.

The consultants' recommendations make sense. They urge the Department of Commerce to focus marketing on the state's enduring strengths - low labor costs, energy and housing. At the same time, the consultants call for a new emphasis on qualities that are likely to appeal to businesses that promote creativity and progressive ideas.

The consultants view the state's many respected colleges and universities as underused assets that could be especially attractive to businesses focused on cutting-edge ideas.

State and local governments cannot afford to fall into a rut in competing for businesses in a changing economy. Cherished assumptions about what has worked in the past may not appeal to new kinds of businesses with different needs from those founded 50 years ago.

Learning what businesses want requires constant attention to shifting priorities. The agency should plan to make information-gathering projects like the survey a regular part of its work.

Here to learn more.