A global professional services firm ranks Indiana in the top 10 in the United States for aerospace manufacturing attractiveness. The report from PricewaterhouseCoopers cites major industry growth, including expansions at Alcoa Inc. (NYSE: AA) in La Porte County and Rolls-Royce in Indianapolis.
The firm, which ranked Indiana sixth in the nation, says the state benefits from its property tax and unemployment tax policies. The state ranks sixth in tax climate, 17th for operational expenses, 15th for industry growth and 28th for education.
In October, Rolls-Royce announced plans to spend nearly $600 million to modernize its Indianapolis operations. At the time, the company said the upgrades would reduce costs by replacing outdated infrastructure and eliminating unused space. The operations date back to World War II. The manufacturer said the investment is its largest in the United States since purchasing the former Allison Engine Co. in 1995. The company was also the first tenant named for the Purdue Research Park Aerospace District in West Lafayette.
Also last year, Alcoa fired up a $100 million facility in La Porte County, expected to create nearly 330 jobs by 2019. Alcoa also has locations in Lafayette and Evansville, which employ a total of more than 3,200 Hoosiers.
The Indiana Aerospace & Defense Council says the industry pays an average of approximately $89,000 per year, well above the state average.
The Aerospace Industries Association recently announced it will host its Supplier Management Council conference in Indianapolis in the spring of 2018.
You can see the full report by clicking here.