The Chamber of Commerce's Indiana Prosperity 2035 aims to increase the proportion of Hoosiers with degrees, certificates and/or credentials to 70 percent.
(Pavel Danilyuk / Pexels)
College degrees, skills training and high-quality certificates are the future of Indiana’s economy, according to the Indiana Chamber of Commerce’s recent reports.
The chamber unveiled its Indiana Prosperity 2035 initiative Monday, which said getting Hoosiers post-secondary degrees and certificates are crucial to the state’s economic outlook. Chamber President Kevin Brinegar said education and its impact on workforce development are top priorities in getting more people jobs in the 21st century.
“That’s why workforce and K-12 education are the cornerstone pillars of the six pillars of our Indiana Prosperity 2035 plan,” Brinegar said.
Indiana Prosperity 2035 is the “primary driver” of the Chamber of Commerce’s work and advocacy. The initiative is intended to engage legislators and business groups. The plan took 18 months to develop and includes six pillars: the Workforce; K-12 Education; Economic Growth, Innovation and Entrepreneurship; Superior Infrastructure and Energy, Quality of Place Strategies; and Healthy, Prosperous Communities and Citizens.
How is education tied to the economy?
Brinegar said the state has improved its tax climate and created a business-friendly state over the last 20 years after successful long-range initiatives. Now, Brinegar said the chamber will focus on educating a workforce for the future.
The state reports a “leaky talent pipeline,” meaning Indiana lags in creating and maintaining the necessary amount of skilled, educated workers to meet the job demand. Hoosiers without post-secondary education are more likely to be unemployed and fail to participate in the economy.
College enrollment in Indiana has dropped to 53 percent — down from 65 percent in 2015. In 2025, experts predict a steep drop in college enrollment nationally, called an “enrollment cliff,” which Brinegar said will lead to a less educated workforce. He said most jobs, especially in fast-growing STEM areas, will require some kind of post-secondary education.
Nearly two million adults in Indiana have only a high school diploma, according to the Commission for Higher Education. The commission also reports a drop in adults seeking education or training later in life.
“The quality and skills of your workforce have risen to the top in terms of importance, because we’re now in a talent-driven economy,” Brinegar said.
The Chamber of Commerce’s goals by 2035
The initiative’s goals for workforce development include getting 70 percent of Hoosiers a degree, credential and/or certificate.
The chamber also wants to see the proportion of residents with STEM credentials or certifications double.
Currently, 29 percent of Hoosiers have a bachelor’s degree or higher. The report aims for that number to increase to 40 percent by 2035.
Retention of graduates is also a goal. The report states there’s a need to “significantly increase attraction and retention of talent.” The 2035 plan aims to see a 25 percent increase in the retention of college graduates, with an additional focus on international students with STEM degrees.
Currently, the state is ranked 40th in college graduate retention, according to the Commission for Higher Education.
Looking to the future
The chamber’s previous 2025 plan aligned with the Commission for Higher Education’s goal of getting 60 percent of Hoosier a post-secondary degree or certificate, Brinegar said. The state has nearly reached that goal with two years to spare, so the new strategy sets its sights on 70 percent by 2035.
Despite this progress, Indiana ranks in the bottom of the U.S. in the percentage of people with at least an associate degree or high-quality credential.
“We’ve made great progress, but we’re still ranked 37th,” Brinegar said.
Brinegar said Chris Lowery, leader of the Commission for Higher Education, has worked alongside the chamber and others to stress the importance of post-secondary training and education to legislators.
The pillars of the Indiana Prosperity align with the commission’s Hoosier Opportunities and Possibilities through Education agenda, Lowery said. The HOPE Agenda aims to improve Indiana’s college enrollment, graduation and retention rates.
"The Chamber’s new vision for the state will be critical in creating a pathway of success for Hoosier students as education and training beyond high school is the cornerstone of economic vitality, individual social mobility and civil society,” Lowery said. “We are thrilled to partner with leaders who are passionate about the hope higher education provides.”
The initiative has already been sent to legislative leaders and the governor’s office to socialize the plan. Brinegar said the chamber wants to work with candidates for the 2024 governor race.
“Hoping to work with them, that they’ll embrace this and make this both part of their campaign platform and if they’re the one elected, part of their work plan for their first four years in office,” Brinegar said.
Aubrey is our higher education reporter and a Report For America corps member. Contact her at aubmwrig@iu.edu or follow her on Twitter at @aubreymwright.
