Expert: Hoosier Areas May Face New Normal
An associate professor of finance at the University of Indianapolis says he doesn’t believe many Indiana metro areas will ever return to pre-recession job levels, according to a report on Inside INdiana Business.
Matt Will says there isn’t enough private investment in most areas to spur significant job growth.
Will’s comments are in response to a report from the U.S. Conference of Mayors that predicts seven Indiana metro areas will not return to peak employment until after 2020, including Elkhart-Goshen, home to the recreation vehicle industry’s manufacturing hub. Will says economic indicators are almost impossible to predict eight years out.
The report predicted Anderson, Elkhart-Goshen, Kokomo, Michigan City-LaPorte, Muncie, South Bend-Mishawaka and Terre Haute would not recover the jobs lost in the recession until after 2020.
Will says much of the economic growth happening right now is coming through public projects. He says until private investment increases in the same way, it will be difficult for many areas to approach pre-recession job levels.