Radius Indiana expects to see an increase in the growth rate of manufacturing jobs in its eight-county region in southwest central Indiana. The regional economic development partnership has released its quarterly update to its Radius Manufacturing Index, a tool to gauge the strength of manufacturing.
The RMI also shows an increase in the number of manufacturing establishments and an increase in the percentage of earnings.
"Creating the RMI has given Radius an opportunity to have a unique look at an industry that is so important to our region," said Jeff Quyle, president and CEO of Radius.
According to Radius Indiana, the second quarter RMI measured 60.26, up from the previous quarter of 58.65. The overall state index measured 58.05, down from the previous 59.94. Radius Indiana says the decline in the state index appears to reflect the continuing diversification of the state’s economy with growth in non-manufacturing sectors.
The growth in manufacturing jobs in the Radius Indiana region is welcome news to partner organizations like the Daviess County Economic Development Corp. “New manufacturing firms like M&C Tech and Eagle Railcar, along with the growth of our existing manufacturers like GPC, IsoFlex Packaging, and NASCO have brought new investment, jobs, and diversification to our local manufacturing sector," said Bryant Niehoff, executive director of Daviess County EDC.
The index is based on total scores from 12 economic factors.