Indiana Ranks No. 14 in CNBC’s 2022 Top States for Business List
Infrastructure, Cost of Doing Business Primary Factors in Annual Ranking
CNBC recently released its annual list of America’s Top States for Business in 2022 and Indiana’s ranking increased by five spots over the last year propelling the state to No. 14.
To rank America’s Top States for Business in 2022, CNBC scored all 50 states on 88 metrics in 10 categories of competitiveness.
Infrastructure, cost of doing business and cost of living are three primary categories where Indiana performed well.
Indiana’s strong infrastructure is no surprise as Northeast Indiana’s 11 counties are a known force in the distribution and e-commerce industry accounting for more than 14,000 jobs. The region is also home to more than 630 transportation and logistics companies.
While Indiana may be landlocked in the Midwest, Northeast Indiana is connected with access to three aquatic ports. The 11-county region is also located near seven U.S. highways, more than 20 state roads, four rail services and Fort Wayne International Airport, which handles 22 million pounds of cargo annually.
In an interview with Inside Indiana Business, the Indiana Economic Development Corp’s vice president of communication Erin Sweitzer said, “Although we know this is only one of many rankings and each has its own methodologies that fluctuate from year to year, it’s certainly not a surprise to see Indiana’s overall ranking increase. The IEDC remains focused on supporting our businesses and adapting to their developing needs while looking for opportunities for advancement and improvement.”
Businesses in Northeast Indiana certainly benefit from the state’s award-winning infrastructure and there have been recent investments in the region to show for it. Amazon recently invested $15 billion throughout Indiana, with three facilities in Fort Wayne, and Sweetwater Sound, the world’s largest online music retailer, recently invested $76.4 million in a major expansion at its current facility.
Ready to explore more about Northeast Indiana’s strong distribution & e-commerce industry? Read the full CNBC report, explore our website or reach out to our team to learn more!
Economic Statistics from CNBC
Governor: Eric Holcomb, Republican
GDP growth (Q1 2022): -1.6%
Unemployment rate (May 2022): 2.2%
Top corporate tax rate: 4.9%
Top individual income tax rate: 3.23%
Gasoline tax: 49.79 cents/gallon
Bond rating (Moody’s/S&P): Aaa, stable/AAA, stable
Economic profile sources: U.S. Census Bureau, U.S. Bureau of Economic Analysis, U.S. Bureau of Labor Statistics, Federation of Tax Administrators, American Petroleum Institute (excluding 18.40 cent/gallon federal tax), Moody’s Investor Service, S&P Global Market Intelligence
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