Report: Ind. Has Rapid Manufacturing Rebound
Reflecting a “key period” in the post-recession transition, the sixth annual Manufacturing and Logistics Report Card shows Indiana outpacing the nation in the industries’ rebound.
According to Inside INdiana Business, the report, issued by Ball State University’s Center for Business and Economic Research (CBER) and the state’s advanced manufacturing and logistics initiative Conexus, Ind., stated that only six states are “recovering,” and Indiana is leading the charge. Indiana is home the RV industry’s manufacturing center.
“This study argues for an unusually strong recovery period. Most of the country’s manufacturing has not rebounded effectively,” said Michael Hicks, report author and CBER director. “Indiana’s post-recession recovery is third best in the country behind only Alaska and North Dakota. Those states are so small relative to Indiana’s manufacturing, I think it could be said, of the real manufacturing states, Indiana is recovering most rapidly.”
Hicks says the 2013 report reflects the state’s continuing dominance in manufacturing and logistics. Indiana received an “A” in manufacturing industry health for the fifth consecutive year, and logistics industry health has improved from a “B-” in 2009 to earning its third consecutive “A” this year.
Indiana also received an “A” in tax climate and in global reach, which measures the export of goods. Additionally, the Hoosier state leads the country with the highest share of manufacturing employment per capita.
Indiana earned an average “C+” score in productivity and innovation. Hicks noted that although the struggling national economy would suggest stalling productivity, manufacturers are making more goods with the same number of people and level of capital investment.
“The really good news is, throughout the Midwest, Indiana is leading that productivity level and growth,” says Hicks. “We rank 16th nationwide, but we’re doing a very good job amongst more comparable states in the Midwest.”