On average, Indiana stayed about the same in its national rankings of 59 economic indicators, and Indiana Chamber of Commerce officials say the state will need to further increase efforts to keep up with stiffening competition.
These indicators all measure progress in 33 goals laid out in the Indiana Vision 2025 economic development action plan created by the Chamber in 2011.
"We are now one third of the way toward the 2025 time horizon, and as I stand here today, our plan's importance has only increased," Chamber President and CEO Kevin Brinegar said Monday.
Brinegar and other Chamber representatives presented findings of the 2015 report at Ivy Tech Community College in Sellersburg — its last of six regional stops. A report is released every two years.
"And we’re doing that to keep the plan front and center, to keep ourselves and policy makers, legislators, [the] governor, et cetera focused on this plan because we believe if we achieve the goals in this plan, Indiana will be very well positioned to compete in the 21st century economy," he said.
Of the 59 metrics, Indiana's rank compared to other states improved in 28, declined in 19 and remained the same in 12.
"These things take time. It takes a lot of oars of water moving in the same direction to make changes on any of these rankings," One Southern Indiana President and CEO Wendy Dant Chesser said. "But nothing is static. We’re also comparing ourselves by choice with what everybody is is doing to try to improve.
"So we’re going to have to continue the conversation around this on a state level to really recognize any true gains."
Of all four goal categories, superior infrastructure has the lowest average state ranking at No. 34 despite improving since 2013 in every individual metric.
For example, Indiana is No. 47 of 50 states in net energy use per capita, No. 40 in broadband Internet connections and No. 39 in energy efficiency.
Its highest ranking in superior infrastructure is in electricity prices at No. 11.
"Here in the southeast region, infrastructure came up in 2013 as your No. 1 challenge," Cam Carter, Indiana Chamber vice president of Economic Development, Small Business Policy and Federal Relations, said.
Regardless, the three local business and education representatives on a discussion panel had mostly positive views regarding the region's infrastructure — particularly because of the Ohio River Bridges Project.
Scott Olinger, vice president in the Accounting and Auditing Department at Harding, Shymanski & Company, said he hears clients' opinions on various matters frequently.
"And one thing I really don’t hear a lot of complaints about is infrastructure right now," Olinger said.
Some express headaches associated with bridges project construction, he said.
"But I think that’s being seen as a very positive thing with a light at the end of the tunnel, so there’s a lot of enthusiasm around that and certainly manufacturers realize that we have infrastructure in spades here," he said. "And that’s important to them."
Brinegar said Indiana isn't feeling as much pain on infrastructure projects as other states — both metrics for finding new fiscal systems to support infrastructure projects were the two highest ranked in this category at No. 28 and No. 11.
But that's largely because of the Major Moves funding packages to rebuild state roads and highways that have been implemented by former governor Mitch Daniels and Gov. Mike Pence. Major Moves helped pay in part of Indiana's funding portion of the Ohio River Bridges Project.
Brinegar called it a "major Band-Aid."
"We have to face the reality that all the major moves money has either been spent or is allocated for projects that are coming up in the next few years," he said.
Long-term action could be down the line with a statewide study due this year to find infrastructure funding alternatives.
"We’re encouraged by the foresight the General Assembly had to … enact the legalization last year to direct [Indiana Department of Transportation] to commission this long range study," Brinegar said. "We think it’s critically important."