First Posted: 9/29/2011 9:03:45 PM | Last Updated: 9/29/2011 9:04:23 PM
By State Sen. Brandt Hershman, District 7
New rankings from a national business publication are adding to the list of accolades Indiana has received in recent years for its pro-growth economic policies.
A survey of business site-selection consultants by Area Development Magazine ranks Indiana the fifth-best state in the U.S. for doing business. We also placed second as a leader in economic recovery and first for rail and highway accessibility.
Economic statistics back up what these business leaders are saying about our state. Indiana's real gross domestic product (GDP) grew 4.6 percent in 2010, compared to the national average of 2.6 percent growth. In fact, our growth rate was third best in the country in 2010.
Largely due to factors beyond Indiana's borders, unemployment in our state remains far higher than anyone would like to see. But we are adding jobs faster than most states and are being recognized by a growing number of analysts and industries as a great place to locate or grow a business.
Economic development has always been one of my top priorities as a state legislator.
I understand how important it is to help foster an environment conducive to private-sector job growth. I recently authored a new law to further improve Indiana's business climate by reducing the corporate income tax (HEA 1004) and was co-author of the Major Moves highway fund - two initiatives singled out as key to Indiana's strength in economic rankings.
As chair of the Senate Committee on Tax and Fiscal Policy and co-chair of the Study Committee on Economic Development, I will continue to craft and support sound policies that further bolster the state's competitiveness nationally and internationally, making Indiana more attractive to employers looking to expand and invest.
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