Over 100 business leaders gathered Thursday night at the Radisson Star Plaza, to celebrate Northwest Indiana’s phenomenal economic strength and to discuss plans to continue the current trends for continued growth.
Hosted by the Lake County Economic Alliance, the event also drew local officials (both elected and appointed) and corporate representatives from companies such as NIPSCO, Tradebe, Horizon Bank and others, to the conference center to learn more about the region’s current economic strength, as well as plans and potential for future growth.
Headlining the economic update was Jim Schellinger, president of the Indiana Economic Development Corporation. Schellinger gave an informative speech, highlighting the recent economic growth in Lake County, and touched on a few reasons behind that outstanding achievement.
“Indiana has a balanced budget. We have low taxes for businesses. We have the 2nd lowest rate of Worker’s Compensation in the nation. We have a cash reserve, which tells potential companies looking to move their plants into the state that we are a stable location, committed to future growth,” said Schellinger, to a round of applause.
“Indiana is one of just nine states with a triple-A credit rating. It is because of this strength, that we have one of the lowest unemployment rates in the nation, at less than 5% unemployment for the state. In fact, there are more Hoosiers currently working in the state than at any point in Indiana’s 200 year history,” he said to more applause. “We are committed to continued job growth in the region, specifically good, solid skilled jobs that pay good wages for our local citizens.”
Karen Lauerman, President and CEO of LCEA, said, “The LCEA was formed in 2013. This was… a project specifically directed at business attraction, expansion and retention. Since that time, we tripled the amount of business opportunity within the first six months of the group’s existence, and we continue that momentum.”
Lauerman told IIMM that she is most proud of LCEA’s recent achievement of bringing Boyce Lift Truck to East Chicago.
“This brought 500 jobs… 500 opportunities to put residents of Lake County and the surrounding areas – because we are a transient community and we do have and welcome residents not only from other counties, but from Illinois, as well – to the region. We [LCEA] have several more announcements planned for the coming months, regarding projects which could potentially bring even more companies, even some international companies to Lake County. This will mean more jobs and even more growth for the area.”
Sue Reed, President of the Crossroads Chamber of Commerce and LCEA Board member said, “The LCEA came out of the gate running and has shown no signs of slowing down. They have landed so many deals that would not have been possible without them.”
Chris Mahlmann, founder and CEO of Ideas in Motion Media said, “We have a large number of skilled, dedicated workers here in Lake County and throughout Northwest Indiana. These are people who just need a chance to put their skills to work, they just need an opportunity to show what they do, and I can think that LCEA does a great job showcasing the region, identifying local resources, and making connections with companies who are searching for a place that has those resources.”
Schellinger was excited about the turn-out for the evening’s event.
“We are committed to the continued economic growth of the area,” he said, nodding towards the crowd. “Life in Northwest Indiana is good… Life is good.”