Kokomo, Lafayette Areas Toast Success

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Two Indiana communities are touting significant economic achievements. Numbers released by the U.S. Bureau of Labor Statistics indicate the Kokomo metropolitan area added 2,300 jobs between August 2013 and August 2014, giving it the third-highest growth rate in the country at 5.3 percent. Greater Lafayette Commerce is reporting more than $440 million in new investment through the first six months of the year. Kokomo finished third behind Lawrence, Kansas and Midland, Texas.

The Muncie metro area finished second in growth in the state at 4.2 percent. A close third statewide was Elkhart-Goshen at 4.1 percent.

You can view a full chart of U.S. metro areas by clicking here: http://www.bls.gov/news.release/metro.t03.htm

October 23, 2014

News Release

KOKOMO, Ind. - Kokomo, IN was the third-ranked city in the U.S. for job growth in 2013 according to the Bureau of Labor Statistics (BLS) data. Kokomo added 2,300 jobs between August 2013, and August 2014, for a total job growth rate of 5.3 percent.

For the same period, Kokomo's unemployment rate shrank by more than two percentage points, while its labor force increased by 1,817, as the city continues to be a best place for job seekers.

The Talent Tribune listing is based on BLS data for the total number of employed residents in August 2013 and August 2014. The organization calculated the number of jobs added, as well as the percentage of job growth.

"The Kokomo economy continues to outpace the state and national economies," said Kokomo Mayor Greg Goodnight. "Our community is thriving at the same time we are making quality-of-life investments for our residents. Kokomo's job market is one of the best in the U.S., and our housing stock remains one of the most affordable in the nation as well."

This report follows a U.S. Conference of Mayors announcement that Kokomo's Gross Metropolitan Product (GMP) growth rate of 2.4 percent in 2013 placed it 61st of 363 metro areas in the nation.

Talent Tribune is a blog dedicated to reporting on matters related to Human Resources i.e. jobs, workplace culture, talent management, recruiting, and more.

Source: The City of Kokomo

October 22, 2014

News Release

LAFAYETTE, Ind. - Arrows are pointing upward as Greater Lafayette Commerce takes the pulse of the local economy with release of its Mid-year 2014 Economic Trends.

Among its tallies: some $206 million in industrial investments, including GE Aviation's $100 million new plant, a $90 million expansion at Tate & Lyle, and $13.3 million investment at TRW, along with $72.7 million in commercial and multifamily real estate projects. In all, $440.3 million in new investments across all sectors were announced or made by June 30, 2014.

Other highlights include 20 new knowledge-based startups launched in the first six months of the year, more than two dozen new retailers and restaurants and several financial institution expansions.

"Our focused, collaborative efforts to be 'The Place of Choice' are paying off, as we continue to see confidence in investing, expanding and locating here," said Jody Hamilton, director of economic development for Greater Lafayette Commerce.

Two recent national recognitions reflect the robustness, Hamilton said. Forbes ranked the community No. 9 in its 2014 list of Best Small Places for Business and Careers out of 184 cities on economic and quality-of-life indicators, job grow trends, cost of living and cost of operating a business. And Area Development Magazine ranked the community No. 35 in its 2014 list of Leading Locations, for Lafayette’s economic and workforce indicators.

"It's good to be in the spotlight," Hamilton said. "It's even better to be adding jobs, capital investments and vibrancy to our local economy."

The full, 26-page Greater Lafayette Commerce Economic Trends is available at http://www.greaterlafayettecommerce.com/sites/default/files/Midyear%20Trends%202014_1.pdf .

About Greater Lafayette Commerce. Headquartered at 337 Columbia St. in Lafayette, Greater Lafayette Commerce (www.greaterlafayettecommerce.com), whose roots go back more than 85 years, is a nonprofit membership organization supported by local businesses, industries and governments. Activities by what is now known as its Economic Development Council began 30 years ago. Greater Lafayette Commerce's mission is to advance economic and community prosperity for a superior quality of life.

Source: Greater Lafayette Commerce