Indianapolis Metro

Business Facilities magazine released the results of its annual Rankings Report and Indianapolis earned two spots in the Metro Cities Rankings Report.

Indianapolis ranked #7 in the "Top 10 Metro Cities for Economic Growth Potential" and ranked #8 in the "Top 10 Metro Cities with the Best Cost of Living."

Top 10 Metro Cities for Economic Growth Potential:

1. CHATTANOOGA, TN
2. ALBUQUERQUE, NM
3. SAN ANTONIO, TX
4. CHARLESTON, SC
5. CHARLOTTE, NC
6. TUCSON, AZ
7. INDIANAPOLIS, IN
8. KANSAS CITY, MO
9. OKLAHOMA CITY, OK
10. LOUISVILLE, KY

Top 10 Metro Cities with the Best Cost of Living:

1. TULSA, OK
2. MEMPHIS, TN
3. MCCALLEN-MISSION, TX
4. LITTLE ROCK, AR
5. NASHVILLE, TN
6. TOPEKA, KS
7. LOUISVILLE, KY
8. INDIANAPOLIS, IN
9. CHATTANOOGA, TN
10. KNOXVILLE, TN

Indianapolis has been named a leader among the country's exporting elite, according to a study by the Brookings Institution.

The Brookings Institution’s recently released study ranks the nation’s 100 largest metro areas on exports in 2008, and between 2003 and 2008.

The Indianapolis area ranks 20th in the value of exports produced in 2008 and ninth in the share of the local economy that came from exports, according to the report.

"To have that much of your (Gross Metropolitan Product) going abroad means that Indianapolis is in the export business," said Jennifer Bradley, co-director of the Brookings Institution's Great Lakes Economic Initiative. "Indianapolis is in the global economy."

Key findings from the study:

• An estimated 85,159 jobs in the Indianapolis area were supported by exports in 2008
• Nearly one in 10 jobs in the Indianapolis area rely on exports
• Currently, the U.S. imports more than it exports
• U.S. metro areas are leading the nation in export production
• Indianapolis' largest export industry is chemicals, which includes pharmaceuticals produced by Eli Lilly and Co.

Indianapolis’ major export industries:

• Chemical Manufacturing
• Transportation Equipment Manufacturing
• Machinery Manufacturing
• Royalties from Intellectual Property
• Medical Equipment
• Sporting Goods
• Jewelry
• Misc. Manufacturing

How Indianapolis compares to its surrounding cities:

Indianapolis
Annual Exports: $12.8 billion (Rank 20)
Exports as Share of GMP: 15.2% (Rank 9)

Chicago
Annual Exports: $52.9 billion (Rank 3)
Exports as Share of GMP: 10.9% (Rank 45)

Louisville
Annual Exports: $6.7 billion (Rank 44)
Exports as Share of GMP: 12.6% (Rank 27)

Cincinnati
Annual Exports: $11.8 billion (Rank 22)
Exports as Share of GMP: 12.9% (Rank 24)

St. Louis
Annual Exports: $14.6 billion (Rank 18)
Exports as Share of GMP: 12.1 % (Rank 35)

Detroit
Annual Exports: $26.9 billion (Rank 9)
Exports as Share of GMP: 14.7% (Rank 12)

Indianapolis' Export Profile Report

Read the Indy Star's article on this report
 

Indianapolis is reported to be part of the “New Heartland” of the country, according to a recent report by Brookings Institution that studied the nation’s 100 largest metropolitan areas based on their growth, diversity and education.

In the report, Indianapolis is compared with cities such as: Atlanta; Charlotte, N.C.; Kansas City, Mo.; Portland, Ore.; and Richmond, Va., which are all reported as “New Heartland” cities as well.

But what is meant by “New Heartland?” New Heartland is one of the seven categories that the Brookings Institute divided the 100 metro areas into based on demographical data obtained from the Census Bureau’s annual American Community Survey. New Heartland cities are fast-growing, high-education areas, but have lower shares of Hispanic and Asian populations than the national average.
 

Indianapolis was reported as being characterized by its high growth, and high education, and according to the study, was one of the fastest growing areas in the Midwest between 2000 and 2008.
 

How Indianapolis compares with other "New Heartland" cities:

Population:

Indianapolis: 1,715,459
Atlanta: 5,376,285

Charlotte, N.C.: 1,701,799
Kansas City, Mo.: 2,002,047
Portland, Ore.: 2,207,462
Richmond, Va.: 1,225,626
 

Increase in population between 2000 and 2008:

Indianapolis: 12 percent

Atlanta: 25.6 percent

Charlotte, N.C.: 27 percent
Kansas City, Mo.: 8.6 percent
Portland, Ore.: 14 percent
Richmond, Va.: 11.4 percent

Diversity – Nonwhite population:

National average: 35 percent

Indianapolis: 23 percent

Atlanta: 46.8 percent

Charlotte, N.C.: 36.3 percent
Kansas City, Mo.: 23.4 percent
Portland, Ore.: 22.2 percent
Richmond, Va.: 38.1 percent

Higher education – Adult population (25+) with a bachelor’s degree:

Indianapolis: 32 percent

Atlanta: 34.6 percent

Charlotte, N.C.: 32 percent
Kansas City, Mo.: 31.9 percent
Portland, Ore.: 33.3 percent
Richmond, Va.: 30.6 percent

Median household income:

Indianapolis: $54,587

Atlanta: $60,928

Charlotte, N.C.: $55,394
Kansas City, Mo.: $56,762
Portland, Ore.: $59,044
Richmond, Va.: $58,980

David Wu, policy director for Indianapolis Mayor Greg Ballard, said in an article from the Indianapolis Star, “I think population growth is always a good sign that you’re doing something right, that people want to come there.”

The Urbanophile, Aaron Renn, an opinion-leading urban affairs analyst, communicated the same idea in his keynote address at the Indy Partnership annual meeting in April. He reported that Indianapolis is number one in population growth—by a lot, compared to its Midwest peers. In fact, Indianapolis is actually growing 50% faster than the national average.

Here is a brief excerpt from Renn's keynote speech:
 

"But more telling than population growth is a statistic called net migration. This is just what it sounds like. It’s the number of people who moved in minus the number of people who moved out. If you think about it, this is really the ultimate verdict on a city. It’s people voting with their feet about where they want to live. So let’s take a look. Indianapolis is number one again. I’m beginning to notice at trend already. A net of almost 65,000 people moved to Indianapolis in the first eight years of the last decade. That’s the equivalent of the entire population of [suburb] Fishers packing up from where ever they are and moving to Indy. It’s more than twice as many as the next nearest city on the list. And as you can see, the Midwest is a place most people want to move away from, but not here, not this city. Indianapolis is a place where people want to be, to plant their flag, seek their fortune, and build a better future for themselves and their families."

The Indianapolis Star article on this study

Indiana Governor Mitch Daniels recently made the claim, "Indiana is becoming a location of choice for companies in the renewable energy industry." As a director of research, I reject broad, sweeping claims -- particularly those made by politicians -- unless they are backed up with credible data. It's a "show me the numbers" approach that would make any high school forensics/debate teacher proud.

Governor Daniels, it seems, has the numbers on his side. Hoosiers are already benefiting from an emphasis on alternative fuel vehicles and clean-tech or renewable energy. From 1998 to 2007, the number of sustainable energy jobs in Indiana grew by 17.9 percent, nearly double the growth rate of the rest of the United States, according to The Pew Charitable Trust.

PHOTO CAPTION: Indiana Governor Mitch Daniels (left) and Charles Gassenheimer, chairman and CEO of Ener1, the parent company of Indiana company EnerDel, pause for a photo together inside one of EnerDel's manufacturing facilities. Gassenheimer is holding one of the company's lithium-ion battery cells.

Furthermore, consider these recent announcements:

• Lithium-ion battery maker EnerDel will locate its newest manufacturing operation in Hancock County (within the 10-county Indianapolis region) and create hundreds more jobs than originally projected. EnerDel, a developer of batteries and energy storage systems for hybrid, plug-in electric and electric vehicles, will soon have more than 1,400 employees working at three Indianapolis region locations.
   
• THINK, a leading international manufacturer of pure electric vehicles, plans to locate its North American production facility in Elkhart, Ind., creating more than 400 jobs by 2013.
   
• Delphi Corp., a global electronics maker, will establish a new production facility in Kokomo, Ind. (just north of the Indianapolis metro) to manufacture products for the electric drive vehicle market, creating an estimated 190 new jobs by 2014.
   
• White Construction Inc., a contractor for renewable energy projects throughout North America, will expand operations and build its new headquarters in Clinton (between Indianapolis and Chicago), creating up to 70 new jobs by 2012.
   
• According to the American Wind Energy Association, Indiana is a leading state in adding new wind capacity -- ranking second in the nation in 2009 and first in 2008.

Google introduced its Nexus One wireless phone last week at the Consumer Electronics Show (CES) in Las Vegas, and that's good news for Brightpoint North America, a global leader in the distribution of wireless devices. Brightpoint is located in Plainfield, Indiana, near the Indianapolis International Airport.

Through an agreement with Taiwan's HTC Corp. -- the original equipment manufacturer of the Nexus One -- Brightpoint will provide logistics services supporting Google's web store channel, including bundling and shipping the Nexus One to end users.

I personally worked in the consumer electronics industry for close to a decade, attended and exhibited as a manufacturer at CES, and helped to launch hundreds of consumer electronics products. In my experience, nothing kills a product faster than a.) too many bugs or outright product failures, and b.) poor logistics.

Google has a lot riding on its first foray into the wireless hardware marketplace. I would imagine bringing the Nexus One phone itself to market was a monumental challenge for an on-line, software-centric company with little experience in manufacturing (even with the help of an OEM).

With resources focused on launching a product intended to compete with the iPhone, issues with availability, fulfillment or shipping could be disastrous, since Apple has such an exemplary reputation for customer satisfaction and overall product experience.

It's testament to the strength of Indiana transportation logistics and especially to Brightpoint North America that Google and its partner HTC Corp. have chosen a company located in the Indianapolis region to play such a pivotal role in the launch of a make-or-break product.

For those unaware of the transportation, distribution and logistics prowess of the Indianapolis Region, here are a few of the more salient details:
 

• More than 50% of the U.S. and Canadian populations lie within a day’s truck drive of Indiana
• About 75% of the U.S. and Canadian populations lie within one and a half day's drive of Indiana
• The Indianapolis Region ranks first among metro areas in interstate access with four intersecting interstate highways
• Indianapolis International Airport is home to the world's second-largest FedEx hub
• Indianapolis International Airport is the eighth-largest cargo airport in North America.

LEARN MORE about transportation, distribution and logistics in the Indianapolis Region.
Read the logistics FEATURE STORY from the Indianapolis Region magazine.

Photo courtesy of Banayote Photography.

Published: Friday, 6 Nov 2009 -  CNBC just completed a study on "Best Cities to Find a Job" and Indianapolis is ranked 8th.  CNBC specifically highlights central Indiana's Life Sciences and Medical Device Manufacturing industries as bright spots.

The report, released by employment Web site CareerBuilder.com, ranked the top metro areas with the most job postings on the site between January and October 2009.

 “The cities that are more economically diverse and have a variety of industries” have the most jobs available, said CareerBuilder.com spokesperson Jennifer Grasz.

"The Indianapolis Region also has and advantage from the perspective of employers in clean energy, defense, automotive, and information technology," said Matt Waldo, Director of Research and Information for Indy Partnership.  "More highly skilled workers are available now in central Indiana than ever before, and at a competitive cost - and we'll quantify that for you," he continued. 

Check out all that the Indianapolis Region has to offer here.

The CNBC report may be accessed here.

Indiana added more workers than any other state in September, fueled mainly by gains in the hard-hit manufacturing sector.

Forty-three states reported job losses in September, while seven gained jobs, the Labor Department said Wednesday. The numbers underscore the uneven nature of the nation's economic recovery.

September shined in the Indianapolis metro area, where 7.7 percent was the lowest jobless rate since 8 percent in January. Marion County last month recorded 8.4 percent joblessness, while Hamilton County had the area's lowest rate, 6.1 percent. Madison County, at 9.7 percent, had the area's highest unemployment.

Indiana benefited from a rebound in the auto sector last month and a healthy medical device industry, said Robert Guell, a professor at Indiana State University in Terre Haute.

Auto parts and assembly plants ramped up production as General Motors, Honda and Chrysler sought to replenish inventories depleted by the popular Cash for Clunkers program, in which customers traded old vehicles for newer, more fuel-efficient models.

In September, Indiana added 4,400 jobs, an increase from August, with manufacturing posting the strongest gain with 3,000 positions. The professional and business service sectors also filled 2,900 jobs. Construction lost 3,300.

Teresa Voors, commissioner of the Indiana Department of Workforce Development, was encouraged by the added jobs but said, "It's still too early to say we have turned the corner."

Matt Kinghorn, economic research analyst with Indiana University's Indiana Business Research Center, agreed.

"It's really encouraging news in seeing Indiana make improvements and (in some sectors) really dramatic improvements. . . . It's still too early to say that Indiana is out of the woods."

Michael Hicks, director of the Center for Business and Economic Research at Ball State University, said, "For the first time in my adult lifetime, it looks like Indiana is pulling out of the recession faster than our neighbors."

Patrick Kiely, president and CEO of the Indiana Manufacturers Association, said he'll take the happy news after two years of job declines. He said the state has gained about 12,000 manufacturing jobs since dropping from 543,000 in January 2008 to 428,700 in June 2009.

"It is coming back," but "everybody's still as cautious as they can be."

Source:  Indianapolis Star (indystar.com) , 10/22/2009
You may view county-by-county unemployment rates, labor force estimates and other workforce data on the Indy Partnership website - click here.

 

In a news story released today by our friends at the Indiana Economic Development Corporation, a Portland, Ind. company called Sertech Heating and Air Conditioning Inc. was recently awarded a $77,000 grant from the United States Department of Agriculture to further develop its proprietary solar technology.

From the story: "Under development by Sertech Owner Wayne Blevins for nearly five years, the company's Solar Thermal Energy Storage Vessel is similar in size to a residential water heater and contains a proprietary mix of environmentally friendly chemicals that can more efficiently store the sun's heat. Sertech is using the grant to fund a feasibility study with Ball State University."

While Portland, Ind. is located just outside of the 10-county Indianapolis Region, this story is yet another example of Indiana innovation and leadership in the clean-technology, renewable energy space. There are currently more than 100 Central Indiana companies working with or developing new products and technologies that reduce our dependence on fossil fuels.

Both Bright Automotive with its 100 miles-per-gallon fleet vehicle, and EnerDel with its comprehensive hybrid-electric battery production have been making national headlines for a while now. But lesser known clean-tech energy projects are underway here, too.

Projects such as the collaboration between Cummins, Allison Transmission and Delphi called Hoosier Heavy Hybrid, which seeks to bring more cost effective light, medium and heavy duty hybrid trucks to market. And Project Plug-IN, a collaboration among auto, technology and utility companies, including Duke Energy and Indianapolis Power & Light Company (IPL). The project will build the infrastructure to support plug-in vehicles, such as "smart grid" technology that would allow Indianapolis metro commuters to plug-in and recharge their vehicles at home and in downtown parking garages.

And there are many, many more projects underway.

In fact, there is so much activity in Indiana in the clean-tech energy space and so much potential for more activity, that Indy Partnership President and CEO Ron Gifford recently made a bold statement in an address to Indy Partnership investors.

"No other region in the U.S. is better positioned to become the manufacturing epicenter for clean-tech energy compared to the Indianapolis Region," Gifford said. "In addition to our high renewable energy rankings, we offer the most productive manufacturing workforce and the best business climate in the Midwest. When coupled with our central location, our logistics infrastructure, and experienced workforce, it's hard to imagine anyone else competing on this level."

RECENT RANKINGS:

• #1 Advanced Manufacturing Technology
  The Ewing Marion Kauffman Foundation ranks Indiana as the top state in the U.S. in advance manufacturing technology.
   
• #1 Manufacturing Productivity
  The Census of Manufacturers determined that Indiana has the most productive manufacturing workforce in the Midwest.
   
• #1 Wind Energy Growth State
  The American Wind Energy Association ranked Indiana the fastest-growing wind energy state in the country in 2008 and continuing today.
   
• #2 Renewable Components Manufacturing
  The Renewable Energy Policy Project (REPP) recently identified Indiana as the 2nd best state for jobs and investment in renewable energy when normalized for population. 
   
• Twice the National Average
  Manufacturing employment makes up 13% of the Indianapolis Region's workforce, which is more than twice the national average.
   
• High Manufacturing Facility Concentration
  The Indianapolis Region has more than 375 manufacturing facilities with greater than 50 employees.

Inaugural Real Estate Trends in Indiana Report to be released at "Emerging Trends in Real Estate" event on Nov. 18

The ups and downs and areas of opportunity within the real estate industry have great impact on economic development here in the 10-county Indianapolis Region and across the nation. As critical as superb transportation, distribution and logistics infrastructure as well as world-class workforces are, real estate issues can make or break a business relocation or expansion project.

"It is the combination of our assets that gives the Indianapolis Region its competitive advantage over the coasts and neighboring states,” said Ron Gifford, president and CEO of the Indy Partnership. “Having better access to rail service and interstates wouldn’t do us much good if our real estate rental rates were three or four times higher like they are in California and Florida, for example.

“That’s why we are supporting the Urban Land Institute Indiana as a sponsor of its upcoming ‘Emerging Trends in Real Estate’ event and why we are particularly eager to see its Real Estate Trends in Indiana Report become a successful annual resource.”

According to Area Development magazine’s 2007 Annual Corporate Survey, real estate issues were said to be “important” and “very important” by between 79 percent and 89 percent of all respondents when ranking their expansion and relocation priorities. These issues range from availability of buildings and land, construction costs, “fast-track” permitting, energy considerations and residential housing availability and costs. In fact, real estate issues account for three of the top five site selection factors tracked by the survey.

According to Matt Waldo, director of research for the Indy Partnership, the Indianapolis metropolitan area ranks as the “second most affordable” among 46 major metro areas for industrial warehouse rental rates (based on 2008 Mid-Year Market Report data from Cushman&Wakefield) and is highly competitive in Class A and Class B office space.

“The Indy Partnership was directly involved in the decision making process for seven of the 10 largest real estate lease transactions in Indianapolis from the middle of 2007 through the middle of 2008, and I can tell you with the highest degree of certainty that understanding the real estate trends in the Indianapolis Region as they relate to the nation was critical to making the argument to create jobs and invest here. The Urban Land Institute Indiana’s report will enhance our ability to continue this track record of success for our region,” Waldo said.

Learn more about the "Emerging Trends in Real Estate" event .

In a recent report for MSN Real Estate, Melinda Fulmer ranked the Indianapolis Region sixth on a list of “cheap places to live where the economy is strong, home prices are appreciating and the quality of life is good.” Putting it another way, Fulmer wrote that “you won't need to trade the good life for the boring” in Indianapolis.

Based on the criteria reported on MSN, it was no easy task to make it into this top nine “Best Bargain Markets” list. MSN asked Bert Sperling of Sperling's Best Places to evaluate the most affordable housing markets from the 100 largest U.S. metro areas and pinpoint the nine most livable areas: places where unemployment is low, commute times are short and there's enough interesting entertainment or recreation to keep most people busy. MSN defined affordability by the ratio of median income to median home price.

This is one of the most interesting quotes from the article: Moving to one of these cities could allow you to "sell your two-bedroom bungalow in Southern California … and buy a house on a number of acres and suddenly have a nest egg you've never had before," Sperling says.

Here are the highlights of what helped the Indianapolis Region make MSN’s Nine Best, Livable Cities:

·         Indianapolis has become a model for urban renewal

·         Diverse economic base ranging from agriculture to financial services to industrial automation and technology

·         Headquarters to pharmaceutical and research giant Eli Lilly

·         Downtown Indianapolis has undergone substantial renovation and now boasts attractive new buildings, pedestrian zones and a state-of-the-art sports arenas

·         Spectator sports, including the NBA Pacers, NFL Colts and a few minor-league franchises, are a huge draw

·         The venerable Indianapolis Motor Speedway hosts the Indianapolis 500, the Brickyard 400 and other events

·         Arts and cultural opportunities are abundant

·          Affordable residential neighborhoods spread out in all directions from the compact downtown

·         Higher incomes and affordable housing give city residents more buying power than most others around the country.

Of note: The Indianapolis Region scored very well in the evaluated categories including affordability, cost of living, median home price, commute time and home price appreciation.

"There's a ton of stuff to do here," says Brad Slack, a 35-year-old surgical supplies salesman who moved here from Walnut Creek, Calif., nine years ago. But, he says, it's also a city from which you can escape. "You can be out in the wilderness within a 20-minute car ride of the city."

For more information about the quality of life in the Indianapolis Region as well as detailed demographics and workforce data, please contact The Indy Partnership research or business development departments.

As seen on WTHR Channel-13 on Jun 25. TechPoint President and CEO Jim Jay is interviewed about Indianapolis ranking highest in Midwest technology job growth by the annual "Cybercities" study released by the national tech trade group AeA.



Exerpt from the June 25 issue of The Indianapolis Star
by Erika Smith



From 2001 to 2006, Central Indiana added high-tech jobs faster than any other metro area in the Midwest, according to a new study from the national tech trade group AeA.

Local tech companies are making strides like never before, said Jim Jay, president and CEO of the statewide tech advocacy group Techpoint.

"The data is proving what we're seeing in the sector," he said.

In its annual "Cybercities" study released Tuesday, AeA said Central Indiana added 2,200 jobs over the five-year period for a sector total of 28,500 jobs. That's a growth rate of 8.6 percent -- the fourth fastest in the nation.

The only other Midwestern city to report such job growth in the time period was St. Louis, which added 900 tech jobs.

In Central Indiana, the hottest jobs were in computer systems design, which had 7,200 employees in 2006, and telecommunications services, which had 6,200 employees that year.

The average local techie earned $63,900 in 2006, or 54 percent more than the average private sector employee, according to AeA.

"That's really encouraging," Jay said. "This is a trend that we're continuing to see today in 2008."

He pointed to recent hiring announcements by e-mail marketing companies ExactTarget and Aprimo, and software developers ANGEL Learning and Vontoo.

"We've had some pretty steady hiring over the last 12 months or so," Jay said. "I think there are certainly pockets throughout the state where this is very true."

In April, AeA released its annual Cyberstates study, which found that Indiana's tech sector has fared better than many other states' when it comes to jobs, wages and venture-capital investment.

Companies across the state added 1,700 net jobs in 2006, maintaining Indiana's ranking as the 23rd-largest "cyberstate," with 70,200 high-tech employees and a payroll of $4 billion.

The hottest jobs were in engineering services and computer systems design.