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Northeast Indiana reports economic momentum

Posted: Thursday, February 16, 2012

InsideINdianaBusiness.com Report

The Northeast Indiana Regional Partnership says 2011 was the best year for job creation in the region since it began tracking economic activity in 2008. The organization's fourth annual Business Dynamics report also shows the lowest downsizing numbers since monitoring began.

The Northeast Indiana Regional Partnership in conjunction with the Community Research Institute at Indiana University-Purdue University Fort Wayne (IPFW) has released its annual Business Dynamics Report. The report tracks business events in the 10-county Northeast Indiana region, including companies new to the region, expansions, layoffs, closings, downsizings and call-backs.

"The Community Research Institute is pleased to have this opportunity to provide objective information on the key economic events in Northeast Indiana over the past year," said John Stafford, Director of The Community Research Institute at IPFW. "The 2011 Business Dynamics report includes details on job gains (and losses) and investments made by individual companies and key industry groups at a level of detail not available from most data sources. With this information, we can better understand ongoing business trends in the region."

The major announcement that comes with the release of the 4th Annual Business Dynamics Report for the 10-county Northeast Indiana region is that the positive news from 2010 continued in 2011. Of all the new jobs associated with companies moving into the region during the past four years, 2011 has been the best year for the most new jobs announced. The number of expansions was also the highest during this time (i.e. 2008-2011), and downsizings were at the lowest point since this project began.

"The successes experienced over the past year reinforce that the region is moving in the right direction and that our collective efforts will indeed transform our economy," said John Sampson, President & CEO of the Northeast Indiana Regional Partnership. "The goal of our collaborative approach to economic development is to create business investment. This is exactly the outcome we are starting to see here."

The Northeast Indiana Regional Partnership was created in 2006 to help build a globally competitive economy in Northeast Indiana through business development, capacity building and job growth. In 2010, Vision 2020 was formed under the umbrella of the Partnership to build the capacity of the region in five key areas: 21st Century Talent, Competitive Business Climate, Entrepreneurship, Infrastructure and Quality of Life. By combining business development efforts with capacity building, NEIRP has the tools needed to leverage the region's current attributes and build future strength.

The full 2011 Business Dynamics Report can be downloaded from the Partnership's website at http://chooseneindiana.com/

Source: The Northeast Indiana Regional Partnership