Northeast Indiana’s emerging advanced materials industry is a critical driver of innovation across a wide range of important technology and industrial sectors. As a foundation for manufacturing innovation in core industries such as medical device & technology and vehicles, the advanced materials industry includes three areas: raw materials, manufactured goods and research and testing.
Northeast Indiana’s constant determination and creative ability to adapt keeps the advanced materials industry innovative.
The Intersection of Innovation and Industry
In the last five years, advanced materials-related employment has grown by 6 percent.
In Northeast Indiana there is a high level of variation among the subsectors, the average annual wage in advanced materials is $59,530.
Approximately 42,000 workers are employed in the advanced materials industry.
In 2015, Indiana announced it will participate in a public-private partnership to expand research, development and job creation in composite material technology with the U.S. Department of Energy. This initiative includes a federal commitment of $70 million and over $180 million pledged by industry, state economic development agencies and universities.
Indiana lowered its premium tax rate to 1.3 percent to minimize domestic retaliatory tax exposure when doing business in other states.
Indiana’s corporate income tax rate will be reduced to 4.9 percent by 2021, which would make Indiana’s the second-lowest corporate tax rate of any state levying the tax.
Source: Community Research Institute at Indiana University–Purdue University Fort Wayne
Source: Emsi 2018.2; QCEW
Talent Pipeline that Meets Your Needs
In Northeast Indiana, we not only invest in our businesses but we also invest in tomorrow’s talent today. By coupling our certified training programs with higher-education degrees specific to advanced materials, we work to ensure that your company has the talent it needs to do business.
With 13 colleges and universities in Northeast Indiana and an enrollment of over 43,000 students, an educated workforce Is available, qualified and ready.
Ivy Tech Community College-Northeast provides dual credit opportunities to 6,250 students in 51 high school/ career center partners in Northeast Indiana.
Contact us to learn how the Northeast Indiana Regional Partnership can help your business thrive.Contact Us