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Business Report: Indiana Needs To Address 'Brain Drain'

By Network Indiana

Posted June 18, 2015

Indiana ranks well in terms of business development but lags in education and continues to suffer from "brain drain," according to the Indiana Chamber of Commerce‘s Indiana Vision 2025 Report Card released Thursday.

The report tracks where Indiana is making progress in comparison to other states. It also looks at where there‘s room for improvement.

Indiana Chamber Vice President for Economic Development Cam Carter says the state advanced in half of the 59 different areas measured in the report.

Indiana continues to have low taxes and cheap utility costs, and it is toward the top of the country on exports.

But manufacturing jobs are declining, and remaining jobs are requiring more education.

Only 23 percent of Hoosiers have a bachelor's degree, putting Indiana toward the bottom of the country.

"We have got to make a transition from an economy where we're heavily manufacturing dependent, more into a services orientated model. But also, don't leave advanced manufacturing behind. Those are very good paying jobs," Carter says.

Carter attributes Indiana's low degree attainment rates to "brain drain." He says many young people who do earn college degrees in Indiana choose to leave the state for career opportunities outside Indiana.

Other parts of the report show poverty rates in Indiana are rebounding to pre-recession levels.

Broadband internet access, the chamber says, could be improved, especially in rural communities.

Indiana, like many Midwest states, is also struggling to attract the startup dollars needed for a strong entrepreneurial environment.

WFYI's Ryan Delaney contributed to this report.

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Business Report: Indiana Needs To Address 'Brain Drain'

By Network Indiana

Posted June 18, 2015

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