WEBVTT 1 00:00:00.000 --> 00:00:05.338 >> HELLO AND WELCOME TO INSIDE INDIANA BUSINESS. I'M GERRY DICK. IT IS THE LARGEST, MOST 2 00:00:05.338 --> 00:00:12.645 COMPREHENSIVE STUDY OF THE INDIANA ECONOMY EVER. THE CENTRAL INDIANA CORPORATE PARTNERSHIP LAUNCHED THE INDIANA 3 00:00:12.645 --> 00:00:17.884 GPS STUDY MORE THAN A YEAR AGO, IT LAUNCHED IT MORE THAN A YEAR AGO, AND AFTER MONTHS OF WORK BY 4 00:00:17.884 --> 00:00:22.956 NATIONAL EXPERTS AT THE BROOKINGS INSTITUTION AND THE AMERICAN ENTERPRISE INSTITUTE, AN UNPRECEDENTED REPORT ON THE 5 00:00:22.956 --> 00:00:31.231 HOOSIER ECONOMY, POPULATION AND WORKFORCE, REGION BY REGION, IS NOW BEING RELEASED. WHY IS IT SO IMPORTANT? 6 00:00:31.231 --> 00:00:36.503 FOR SOME ANSWERS, I'M PLEASED TO WELCOME BACK TO THE SHOW CICP CHIEF EXECUTIVE OFFICER DAVID JOHNSON AND BROOKINGS 7 00:00:36.503 --> 00:00:40.740 INSTITUTION SENIOR FELLOW MARK MURO. GENTLEMEN, WELCOME TO THE PROGRAM. 8 00:00:40.740 --> 00:00:47.547 >> THANK YOU, GERRY. >> DAVID, I'LL START WITH YOU. THIS IS A BIG UNDERTAKING, A BIG REPORT MONTHS IN THE MAKING. 9 00:00:47.547 --> 00:00:54.621 WHY DID YOU DO IT? WHY WAS IT IMPORTANT TO UNDERTAKE THIS BIG EFFORT? >> WELL, GERRY, AS YOU KNOW 10 00:00:54.621 --> 00:01:02.061 WELL, THE CENTRAL INDIANA CORPORATE PARTNERSHIP IS AN ORGANIZATION OF INDIANA'S PRE-EMINENT CORPORATE LEADERS, 11 00:01:02.061 --> 00:01:08.735 PHILANTHROPIC AND UNIVERSITY LEADERS, AND A BIG PART OF OUR MISSION IS RELATED TO EDUCATION, RESEARCH, DATA, AND 12 00:01:08.735 --> 00:01:14.974 UNDERSTANDING MUCH BETTER WHERE THE STATE IS GOING AND HOW WE CAN HAVE IT GO AN EVEN BETTER DIRECTION MOVING FORWARD. 13 00:01:14.974 --> 00:01:21.314 WE'VE DONE A LOT OF BIG RESEARCH PROJECTS OVER THE YEARS, WE'VE NEVER DONE ANYTHING ON THIS SCALE, AND WE REALLY WANTED TO 14 00:01:21.314 --> 00:01:27.887 WORK WITH OUR COLLEAGUES AT BROOKINGS IN PARTICULAR ON TAKING A LOOK NOT ONLY AT THE REGIONAL ECONOMY FOR CENTRAL 15 00:01:27.887 --> 00:01:36.529 INDIANA, WHICH THEY HAD ACTUALLY DONE A COUPLE YEARS AGO, BUT TO LOOK AT ALL 92 COUNTIES, AND TO LOOK AT SOMETHING THAT WE KNEW 16 00:01:36.529 --> 00:01:46.573 BY INSTINCT, WHICH IS THAT OUR ADVANCED INDUSTRIES IN THE STAT¶ STATE, OUR R & D INTENSIVE, STEM INTENSIVE, AGRICULTURE -- ARE 17 00:01:46.573 --> 00:01:52.378 ALL OVER INDIANA. WE WANTED TO QUALIFY THAT, REALLY WANTED TO SEE KIND OF WHERE THAT BASE WAS AND GET A 18 00:01:52.378 --> 00:01:58.151 BETTER SENSE OF HOW IT WAS DOING. HOW COMPETITIVE IT WAS, HOW IT'S HANDLING TECHNOLOGY CHALLENGES 19 00:01:58.151 --> 00:02:06.593 AND CHANGES, AND BEYOND THAT, WHAT OTHER JOBS LOOKED LIKE IN INDIANA, THE NATURE OF WORK IN INDIANA IT THE TIME OF ENORMOUS 20 00:02:06.593 --> 00:02:15.668 TRANSITION AND CHANGE. BROOKINGS HAS DONE AN -- AND AEI HAS TOO A LOT OF REALLY GOOD RESEARCH THAT LOOKS AT THE 21 00:02:15.668 --> 00:02:22.342 HEARTLAND OF THE UNITED STATES AS SORT OF IN THE CRUCIBLE OF 21ST CENTURY TECHNOLOGY CHANGE. WE DECIDED IT WAS TIME TO 22 00:02:22.342 --> 00:02:27.347 QUANTIFY IT WITH PEOPLE WHO COULD REALLY DO THAT AND THAT'S EXACTLY WHAT THESE FOLKS HAVE DONE. 23 00:02:27.347 --> 00:02:36.022 >> MARK, YOU HAVE A VERY GLOBAL PERSPECTIVE ON THIS, AS YOU LOOK AT SOME OF THE TAKEAWAYS OF THIS REPORT, ADVANCED INDUSTRIES, 24 00:02:36.022 --> 00:02:40.827 WHICH YOU I THINK COINED THAT PHRASE, BUT THESE INDUSTRIES THAT ARE SO IMPORTANT TO THE ECONOMY, INDIANA DOES VERY WELL, 25 00:02:40.827 --> 00:02:45.865 HAS A LOT OF THOSE INDUSTRIES, BUT THE REPORT FOUND THAT OVER THE LAST SEVERAL YEARS, THE EFFICIENCY OF THOSE INDUSTRIES 26 00:02:45.865 --> 00:02:53.339 HASN'T BEEN WHERE IT SHOULD BE. >> ABSOLUTE EE. GOOD¶¶¶¶¶¶¶¶¶ ABSOLUTELY. GOOD QUESTION. 27 00:02:53.339 --> 00:03:04.450 INDIANA IS NUMBER THREE IN THE COUNTRY FOR THE DENSITY OF THESE R & D AND STEM WORK OR INTENSIVE INDUSTRIES THAT PAY WELL, THEY 28 00:03:04.450 --> 00:03:12.125 EXPORT, THEY INNOVATE AND HAVE WAGE PREMIUMS FOR WORKERS AT EVERY LEVEL. SO THEY'RE ABSOLUTE, YOU KNOW, 29 00:03:12.125 --> 00:03:23.036 CALLING CARDS AND CORNERSTONES OF ANY ECONOMY. STAYED VERY STRONG IN THE PRESENCE, ESPECIALLY DUE TO ITS 30 00:03:23.036 --> 00:03:29.742 BIG MANUFACTURING HISTORY. MANY MANUFACTURING CONCERNS ARE NOW ADVANCE MANUFACTURERS BUT WE'RE ALSO TALKING ABOUT DIGITAL 31 00:03:29.742 --> 00:03:38.151 AS WELL, HIGH-TECH. THEY ARE DOING WELL, BUT THERE'S BEEN A SLIPPAGE OF THEIR COMPETITIVENESS MEASURED BY 32 00:03:38.151 --> 00:03:44.157 PRODUCTIVITY, AND WE THINK THAT'S GOT TO BE TOP PRIORITY FOR THE STATE. >> TOP PRIORITY AND MARK, I'LL 33 00:03:44.157 --> 00:03:51.798 GET BOTH YOUR OPINIONS ON THIS BUT THE RECOMMENDATION IS FOR MORE INVESTMENT, MORE FOCUS ON POLICY, INVESTMENT, INCLUDING 34 00:03:51.798 --> 00:03:58.504 FROM THE PRIVATE SECTOR SIDE ON DIGITAL, ON TECHNOLOGY. MARK? >> ABSOLUTELY. 35 00:03:58.504 --> 00:04:07.680 IT'S DIGITAL ADOPTION, IS THE TERM WE USE. COMPANIES THAT ARE DIGITAL NEED TO GET MORE DIGITAL, AND THE 36 00:04:07.680 --> 00:04:16.422 MANY THAT AREN'T YET, INCLUDING OUTSIDE MANUFACTURING, THE SERVICE SECTOR, HAVE GOT TO START MOVING UP THE CURVE. 37 00:04:16.422 --> 00:04:29.002 WE'VE SEEN IN THE CRISIS THAT IF YOU'RE A RETAIL ORGANIZATION AND ARE NOT DIGITAL, NOT ONLINE, NOT A STRONG E COMMERCE POSITION, 38 00:04:29.002 --> 00:04:36.643 YOU'RE NOT GOING TO SURVIVE. SO IT'S JUST THAT IMPORTANT NOW. IT'S A MATTER OF SURVIVAL AND COMPETITIVENESS FOR THE STATE'S 39 00:04:36.643 --> 00:04:42.682 ECONOMY. >> DAVID, I KNOW YOU AGREA WITHH THAT BUT WE'RE RUNNING OUT OF TIME. 40 00:04:42.682 --> 00:04:52.392 VERY QUICKLY, DO MORE TO SUPPORT WORKERS WHO AREN'T IN GOOD JOBS. QUICKLY, WHAT DOES THAT MEAN? >> WELL, AMONG OTHER THINGS, THE 41 00:04:52.392 --> 00:04:59.732 REPORT HAS A NUMBER OF RECOMMENDATIONS, BUT IT MEANS CERTAINLY DOING MORE TO INVEST IN SKILLS DEVELOPMENT UP FRONT, 42 00:04:59.732 --> 00:05:07.840 LIFELONG LEARNING FOR FOLKS, AND ALSO THROUGH THE WORKPLACE, GREATER WORKPLACE-BASED SKILLS SO THAT PEOPLE CAN HAVE MORE 43 00:05:07.840 --> 00:05:14.414 OPPORTUNITIES TO MAKE MORE MONEY AND TO DO BETTER. THERE'S ALSO A LOT OF THINGS, WHETHER IT'S IMPROVING ACCESS TO 44 00:05:14.414 --> 00:05:20.953 BROADBAND, CHILD CARE, A LOT OF THINGS THAT WE COULD DO TO MAKE WORK MORE ACCESSIBLE THAN WE HAVE BEEN ABLE TO DO IN THE 45 00:05:20.953 --> 00:05:26.325 PAST. >> I KNOW A BIG PART OF THE EFFORT TO TAKE THIS REPORT AND PUT IT INTO ACTION, YOU'VE 46 00:05:26.325 --> 00:05:32.999 CREATED REGIONS AROUND THE STATE, DOZENS AND DOZENS OF LEADERS AROUND THE STATE, I KNOW YOU'LL BE CALLING ON THEM TO 47 00:05:32.999 --> 00:05:39.205 HELP ENACT SOME OF THESE CHANGES. A LOT MORE TO THE REPORT. I KNOW YOU CAN GO TO THE CICP 48 00:05:39.205 --> 00:05:45.611 WEBSITE, ALSO IND SIDE INDIANA BUSINESS ALSO TO SEE THOSE. THANK YOU BOTH FOR JOINING US. I'M SURE WE'LL DO MORE ON THIS 49 00:05:45.611 --> 00:05:46.612 GOING FORWARD.