State of indiana

Competitive Assessment and Economic Regions for the Department of Commerce (2002)

Indiana holds a unique and advantageous geographic position in the United States, as reflected in its state slogan, “Crossroads of America.”  At the same time, the stereotype of the state is one of farmers and cornfields, presenting a challenge to attracting not only new business, but also attracting and retaining young, educated workers.  The state’s economy is still largely based on the manufacturing sector – specifically industries connected to motor vehicle and parts manufacturing located in the Midwest – and experienced some recent employment growth in that sector.  The Indiana Department of Commerce (DOC), led by the Lieutenant Governor, recognized that in order to overcome the state’s stereotype and move towards a more services and technology-based economy – which in turn creates better-paying jobs – Indiana needed an intense analysis of its current economy and business climate. 

 

Market Street Services designed a process for Commerce that involved several steps over a 12-month period and allowed the agency to achieve its desired result.  After a study of the current economic and demographic realities in Indiana, it was very important to Commerce to receive input about the state’s business climate from key stakeholders.  With Market Street’s assistance, the agency hosted four meetings across the state.  Commerce invited economic developers, educators, business people, civic leaders, legislators, and other key members of the state’s communities to provide their opinions and perceptions of the business climate.  Commerce also requested an assessment of the state’s competitiveness, which closely examined four key areas of the state’s business climate and compared them to its major competitors: Illinois, Kentucky, Michigan, Ohio, and Wisconsin.  The results of the regional meetings were included throughout this assessment. 

 

Market Street then researched nine economic development program area best practices from 25 states.  The firm also conducted an analysis of the statewide economic development delivery systems in Florida, Kentucky, Ohio, Michigan, and Pennsylvania.  Following completion of the analysis of other economic development efforts across the United States, Market Street moved into the next phase of the project, which was the creation of a regional system for Indiana, consisting of 12 regions, through which the Department of Commerce will begin to provide its services.  A review of the existing regional delivery systems for agencies around the state followed, with the final, culminating document entitled Indiana Department of Commerce Economic Regions.  Through the new regional delivery system and department structure, Commerce can work towards improving the state’s competitiveness nationally and globally.