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Economy, ‘Brain Drain’ A Concern For Hoosier Businesses

A new survey indicates those in the Indiana business community are losing confidence in their business’ future.

62 percent of people surveyed by the Indiana Business Council feel confident about their company’s chance for growth and success for the next 12 months. That’s down from a high of 67 percent in February.

Inside Indiana Business’ Gerry Dick says it is not necessarily Indiana’s economy that has shaken confidence.

“The ups and downs and the wild swings in the stock market, tax policy, all those types of things weigh heavily on business, and I think it’s reflected,” he said. “The national uncertainty is reflected in these numbers.”

Dick says continued high unemployment in the state contributes to the falling confidence level, but Indiana is positioned better than any of its Midwestern neighbors.

In addition, nearly three-quarters of those businesses see top talent leaving the state as a serious problem that continues to hurt the Hoosier business climate.

Approximately 73-percent of people in a new survey conducted by the IBC say “brain drain” is an ongoing issue for Indiana. More than two-thirds say Indiana colleges and universities are not doing a good enough job keeping recent graduates.

Dick says it is not just schools contributing to the issue.

“I think it’s more on the shoulders,” he said, “of the private sector business and colleges and universities around the state to really get their arms around this and do some things that will make it more attractive for folks to stay here.”

Dick says business and education must work together to provide better training for 21st century jobs and then provide not just a few, but clusters of opportunities in those areas.

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