Embracing a Culture of Creativity: Indiana’s Overlooked Economic Engine

2024-12-02T11:50:17-05:00November 27, 2024|

Economic prosperity is driven by creativity in more ways than many people realize. The most successful communities are those that best leverage their creative talent and embrace art and culture to unlock their economic potential. Doing so requires an understanding of, and support for, the creative economy. The creative economy’s impact is extensive, with major implications for talent development, innovation and entrepreneurship, economic prosperity, and quality of life and place. The last century has seen extraordinary proliferation in brand new creative industries, from television and video games to animation, podcasting, music streaming, and augmented reality. Creative industries are often responsible for the creation of technical innovations. With technologies such as artificial intelligence and machine learning, new creative industries are sure to emerge in the future as well. To outcompete its neighbors, Indiana must deepen its focus on the creative [...]

UNLOCKING IP: Leveraging Indiana’s R&D Assets to Boost Entrepreneurship

2024-12-02T11:53:45-05:00November 27, 2024|

In recent years, Indiana’s leaders have placed a renewed emphasis on encouraging innovation and Hoosier entrepreneurship. To further support these new efforts, leaders at the Central Indiana Corporate Partnership (CICP) and AgriNovus Indiana—CICP’s branded initiative focused on growth of the state’s agbioscience industry—began investigating how to leverage Indiana’s existing R&D landscape and IP assets to further stimulate entrepreneurship and innovation across Indiana. Now is the time to scale up on all fronts: to invest more in innovation and entrepreneurship, to become more ambitious in our expectations for companies and support programs, and to do a better job of promoting Indiana as an innovation hot spot to Hoosiers and to others around the world. From universities to major corporate innovators to intermediaries and public sector investments, Indiana has many of the ingredients needed to leverage its R&D assets to boost [...]

Building an Economy of the Future

2024-12-20T21:32:09-05:00November 20, 2022|

This report addresses Indiana’s economic challenges to help advance Indiana to a rank in GDP growth and GDP per capita that exceeds its rank among the states based on population (16th). Doing so necessitates urgency, bold actions, and investments, as it requires advancing Indiana from its current 20th rank in GDP growth rate and 31st place in GDP per capita. This ambitious strategy and action plan for Indiana and the Indiana Economic Development Corporation (IEDC) is designed to: Advance productivity and business growth by addressing needs for an available and appropriately skilled workforce and investment in advanced business technologies. Focus on strategic sector expansion and attraction, both in key existing industries and in new opportunity sectors. Increase new business development and entrepreneurship in Indiana rooted in R&D and innovation. Download Report

Indiana’s Economic Future Phase I Report

2024-12-20T20:06:50-05:00November 20, 2021|

The health of the economy in Indiana is critically important for all in the state. Over the past decade, the overall performance of Indiana’s economy has been on par with Indiana’s Midwestern neighbors, but still has lagged behind national GDP growth. This is demonstrated by the state’s average annual inflation-adjusted GDP growth of 1.99% for 2010-2019 compared to national growth of 2.3%. This performance ranked Indiana 20th among states across the decade. This report is the first in a planned set of two, with this first focused on visualizing the structure and trajectory of Indiana’s economy and its underlying industrial economic drivers. It also seeks to preliminarily identify the parameters that need to be addressed, and opportunities to be pursued, to generate a high-performance economic future. Ultimately the complete program of work is focused on charting a pathway forward [...]

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