WEBVTT

00:00:02.168 --> 00:00:03.436
>> HELLO AND WELCOME TO INSIDE

00:00:03.503 --> 00:00:04.571
INDIANA BUSINESS. I'M GERRY

00:00:04.637 --> 00:00:05.705
DICK.

00:00:05.772 --> 00:00:07.240
DESPITE ANOTHER CHALLENGING YEAR

00:00:07.307 --> 00:00:09.209
DEALING WITH THE COVID-19

00:00:09.275 --> 00:00:10.377
PANDEMIC, INDIANA SAW MORE THAN

00:00:10.443 --> 00:00:11.511
ITS FAIR SHARE OF ECONOMIC

00:00:11.578 --> 00:00:13.213
SUCCESS...THAT WAS ONE TAKE AWAY

00:00:13.279 --> 00:00:14.681
FROM GOVERNOR ERIC HOLCOMB'S

00:00:14.748 --> 00:00:17.016
STATE OF THE STATE ADDRESS,

00:00:17.083 --> 00:00:18.718
WHICH FOCUSED ON THE STATE'S

00:00:18.785 --> 00:00:20.420
ECONOMIC PERFORMANCE... FROM LOW

00:00:20.487 --> 00:00:22.889
UNEMPLOYMENT TO A GROWING BUDGET

00:00:22.956 --> 00:00:23.990
SURPLUS TO RECORD INVESTMENT AND

00:00:24.057 --> 00:00:25.725
JOB COMMITMENT NUMBERS.

00:00:25.792 --> 00:00:26.993
DID THE SPEECH HIT THE MARK? AND

00:00:27.060 --> 00:00:28.495
WHAT ABOUT THE GOVERNOR'S VISION

00:00:28.561 --> 00:00:31.631
FOR THE FUTURE?

00:00:31.698 --> 00:00:33.166
I'M PLEASED TO BE JOINED BY BALL

00:00:33.233 --> 00:00:34.834
STATE UNIVERSITY DIRECTOR OF THE

00:00:34.901 --> 00:00:36.803
CENTER FOR BUSINESS AND ECONOMIC

00:00:36.870 --> 00:00:37.804
RESEARCH MIKE HICKS TO BREAK IT

00:00:37.871 --> 00:00:40.306
ALL DOWN.

00:00:40.373 --> 00:00:42.175
MIKE, AS ALWAYS, GREAT TO SEE

00:00:42.242 --> 00:00:42.375
YOU.

00:00:42.442 --> 00:00:44.043
>> GOOD TO BE WITH YOU, GERRY.

00:00:44.110 --> 00:00:46.579
>> OVERALL, TAKE-AWAYS FROM YOUR

00:00:46.646 --> 00:00:47.480
STANDPOINT, FROM THE SPEECH?

00:00:47.547 --> 00:00:50.016
>> YEAH, I MEAN, I THINK THAT

00:00:50.083 --> 00:00:50.984
THE GOVERNOR DESERVES HIGH MARKS

00:00:51.050 --> 00:00:53.486
FOR THE TONE OF THE SPEECH.

00:00:53.553 --> 00:00:56.523
CERTAINLY GOOD FOCUS ON THE GOOD

00:00:56.589 --> 00:00:58.892
NEWS WE'VE HAD THIS REALLY TOUGH

00:00:58.958 --> 00:01:03.129
YEAR, LOW UNEMPLOYMENT, GOOD GDP

00:01:03.196 --> 00:01:06.266
GROWTH, GOOD RECOVERY, AND AS

00:01:06.332 --> 00:01:07.801
THEY MEET AND THINKING HOW TO

00:01:07.867 --> 00:01:11.638
CRAFT THE REST OF THE YEAR'S

00:01:11.704 --> 00:01:12.806
BUDGET AND FURTHER CYCLE.

00:01:12.872 --> 00:01:14.841
>> ONE OF THE TAKE-AWAYS, OR

00:01:14.908 --> 00:01:16.643
THINGS THAT STOOD OUT TO ME, THE

00:01:16.709 --> 00:01:17.744
ECONOMIC DEVELOPMENT NUMBERS.

00:01:17.811 --> 00:01:20.346
THESE ARE FORWARD-LOOKING, JOB

00:01:20.413 --> 00:01:21.214
COMMITMENTS, THEY HAVEN'T

00:01:21.281 --> 00:01:22.449
HAPPENED YET, RECORD NUMBERS IN

00:01:22.515 --> 00:01:25.819
TERMS OF INVESTMENT, IN JOB

00:01:25.885 --> 00:01:26.553
COMMITMENTS DURING ANOTHER

00:01:26.619 --> 00:01:27.153
PANDEMIC YEAR.

00:01:27.220 --> 00:01:29.789
>> RIGHT, YOU REALLY HAVE TO

00:01:29.856 --> 00:01:32.859
HAND IT TO THE FOLKS AT IEDC.

00:01:32.926 --> 00:01:34.727
TWO YEARS EASILY THE TOUGHEST IN

00:01:34.794 --> 00:01:36.362
INDIANA HISTORY TO ATTRACT NEW

00:01:36.429 --> 00:01:38.198
JOBS AND BUSINESS, AND THEY'RE

00:01:38.264 --> 00:01:39.532
ROLLING OUT RECORD NUMBERS.

00:01:39.599 --> 00:01:44.571
AT THE SAME TIME THEY'RE DOING A

00:01:44.637 --> 00:01:47.440
LOT OF OTHER THINGS, READI

00:01:47.507 --> 00:01:47.674
GRANT.

00:01:47.740 --> 00:01:48.875
>> ONE OF THE THINGS WE TALKED

00:01:48.942 --> 00:01:49.909
ABOUT INCOME GROWTH.

00:01:49.976 --> 00:01:51.411
YOU TOOK ISSUE WITH MAYBE SOME

00:01:51.478 --> 00:01:52.812
OF THE NUMBERS USED ON THE

00:01:52.879 --> 00:01:55.181
INCOME GROWTH SIDE OF THE

00:01:55.248 --> 00:01:55.448
EQUATION.

00:01:55.515 --> 00:01:55.849
>> RIGHT.

00:01:55.915 --> 00:01:58.251
SO THE GOVERNOR'S RIGHT.

00:01:58.318 --> 00:02:01.321
WE'VE DONE WELL SINCE 2015 IN

00:02:01.387 --> 00:02:03.323
GDP GROWTH THAT MASKED SOME

00:02:03.389 --> 00:02:06.693
REALLY SLUGGISHNESS,

00:02:06.759 --> 00:02:09.596
UNDERPERFORMING THE NATION AS A

00:02:09.662 --> 00:02:09.896
WHOLE.

00:02:09.963 --> 00:02:11.664
WE'RE DOWN 6,000 JOBS FROM THE

00:02:11.731 --> 00:02:12.232
BEGINNING OF THE PANDEMIC.

00:02:12.298 --> 00:02:14.501
THE FACT IS OUR RECOVERY LOOKS

00:02:14.567 --> 00:02:17.537
LIKE THE NATION'S AS A WHOLE.

00:02:17.604 --> 00:02:19.105
WHEN INDIANA IS GROWING AS FAST

00:02:19.172 --> 00:02:21.841
AREAS THE COUNTRY AS A WHOLE,

00:02:21.908 --> 00:02:23.309
THAT'S GOOD NEWS OVERALL.

00:02:23.376 --> 00:02:25.078
>> POPULATION GROWTH STOOD OUT.

00:02:25.144 --> 00:02:26.646
WE HEAR SO MUCH ABOUT THE NEED

00:02:26.713 --> 00:02:28.248
TO GROW THE POPULATION, BEEN

00:02:28.314 --> 00:02:28.948
LOSING POPULATION.

00:02:29.015 --> 00:02:30.283
HEARS WHAT THE GOVERNOR HAD TO

00:02:30.350 --> 00:02:33.786
SAY ABOUT INDIANA AND POPULATION

00:02:33.853 --> 00:02:34.287
GROWTH.

00:02:34.354 --> 00:02:35.955
>> SINCE 2010, OUR POPULATION

00:02:36.022 --> 00:02:37.757
HAS INCREASED BY 300,000 PEOPLE,

00:02:37.824 --> 00:02:39.092
FAR ECLIPSING THE RATE OF ANY

00:02:39.158 --> 00:02:41.661
NEIGHBORING STATE. IN FACT, THE

00:02:41.728 --> 00:02:43.496
U.S. CENSUS JUST PUT OUT THAT

00:02:43.563 --> 00:02:45.431
FROM JULY 2020 TO JULY 2021,

00:02:45.498 --> 00:02:49.335
INDIANA SAW MORE PEOPLE MOVE TO

00:02:49.402 --> 00:02:52.472
OUR STATE THAN ANY OF THE 11

00:02:52.539 --> 00:02:53.740
OTHER STATES THAT MAKE UP THE

00:02:53.806 --> 00:02:57.777
ENTIRE MIDWEST REGION.

00:02:57.844 --> 00:02:59.612
>> MIKE, IN YOUR VIEW, IS THAT

00:02:59.679 --> 00:03:01.214
EVIDENCE THAT PERHAPS SOME OF

00:03:01.281 --> 00:03:04.918
THESE EFFORTS TO GROW, TO KEEP

00:03:04.984 --> 00:03:06.953
TALENT, ATTRACT TALENT, ARE

00:03:07.020 --> 00:03:07.186
WORKING?

00:03:07.253 --> 00:03:08.254
>> ABSOLUTELY.

00:03:08.321 --> 00:03:09.622
I THINK THE FOCUS ON QUALITY OF

00:03:09.689 --> 00:03:11.691
PLACE, QUALITY OF LIFE, WHILE

00:03:11.758 --> 00:03:12.625
INCOMPLETE, IS MAKING A

00:03:12.692 --> 00:03:13.526
DIFFERENCE HERE.

00:03:13.593 --> 00:03:15.762
IT'S IMPORTANT TO KNOW THAT THE

00:03:15.828 --> 00:03:17.630
BULK OF THAT GROW HAS OCCURRED

00:03:17.697 --> 00:03:18.665
IN THE INDIANAPOLIS METROPOLITAN

00:03:18.731 --> 00:03:20.900
AREA ALMOST 100% OF IT.

00:03:20.967 --> 00:03:22.468
BUT THE FACT INDIANA'S GROWING

00:03:22.535 --> 00:03:23.937
WHEN ILLINOIS, MICHIGAN, OHIO

00:03:24.003 --> 00:03:26.339
ARE NOT IS REALLY AN IMPORTANT

00:03:26.406 --> 00:03:27.540
BENEFIT, LONG-TERM BENEFIT FOR

00:03:27.607 --> 00:03:28.007
THE STATE.

00:03:28.074 --> 00:03:32.579
>> I KNOW A BIG FOCUS AREA, THE

00:03:32.645 --> 00:03:34.347
READI GRANTS THAT LEVERAGED A

00:03:34.414 --> 00:03:36.449
LOT MORE PRIVATE INVESTMENT.

00:03:36.516 --> 00:03:38.318
BUT THESE READI GRANTS HANDED

00:03:38.384 --> 00:03:39.485
OUT AROUND THE STATE OF INDIANA,

00:03:39.552 --> 00:03:42.555
YOU FEEL THOSE ARE REALLY

00:03:42.622 --> 00:03:44.023
POSITIVE INFLUENCES ON THAT

00:03:44.090 --> 00:03:44.857
WHOLE EQUATION.

00:03:44.924 --> 00:03:45.758
>> RIGHT.

00:03:45.825 --> 00:03:48.027
THIS WAS A REALLY BIG POLICY

00:03:48.094 --> 00:03:49.629
YEAR THAT WE'VE JUST PASSED OUT.

00:03:49.696 --> 00:03:51.898
THE READI GRANTS ARE IMPORTANT

00:03:51.965 --> 00:03:53.967
BECAUSE THEY PROVIDE REALLY FIVE

00:03:54.033 --> 00:03:55.969
OR SIX REGIONS WITH AS MUCH

00:03:56.035 --> 00:03:57.604
MONEY AS THE REGIONAL CITIES

00:03:57.670 --> 00:04:01.808
GRANT THAT SORT OF STIMULATE THE

00:04:01.874 --> 00:04:02.609
CONSTRUCTION AND INFRASTRUCTURE

00:04:02.675 --> 00:04:05.178
INVESTMENT QUALITY PLACE,

00:04:05.244 --> 00:04:06.579
THERE'S A LOT OF GAPS IN

00:04:06.646 --> 00:04:07.814
EDUCATION, BUT THIS IS HOW YOU

00:04:07.880 --> 00:04:10.149
USE THIS MONEY TO MAKE A

00:04:10.216 --> 00:04:12.251
LONG-TERM DIFFERENCE IN MUCH OF

00:04:12.318 --> 00:04:12.752
THE STATE.

00:04:12.819 --> 00:04:13.786
>> THE GOVERNOR TOUCHED ON

00:04:13.853 --> 00:04:14.821
DEVELOPMENTS IN OTHER PARTS OF

00:04:14.887 --> 00:04:16.889
THE STATE, A COUPLE BIG PROJECTS

00:04:16.956 --> 00:04:24.430
IN NORTHWEST INDIANA, HE TALKED

00:04:24.497 --> 00:04:24.764
ABOUT AS WELL.

00:04:24.831 --> 00:04:25.832
>> WHEN THE SOUTH SHORE DOUBLE

00:04:25.898 --> 00:04:27.333
TRACK AND WEST LAKE CORRIDOR

00:04:27.400 --> 00:04:30.003
PROJECTS ARE COMPLETED, THEY

00:04:30.069 --> 00:04:34.507
WON'T JUST REDUCE TRAVEL TIMES,

00:04:34.574 --> 00:04:34.774
THEY WILL.

00:04:34.841 --> 00:04:36.009
BUT

00:04:36.075 --> 00:04:36.643
THEY'LL FUEL AN EXPLOSION OF NEW

00:04:36.709 --> 00:04:37.543
INVESTMENT AND OPPORTUNITY IN

00:04:37.610 --> 00:04:39.479
NORTHWEST INDIANA. THE LIKES WE

00:04:39.545 --> 00:04:44.083
HAVEN'T SEEN IN DECADES.

00:04:44.150 --> 00:04:46.452
>> Gerry: THE SOUTH SHORE, THOSE

00:04:46.519 --> 00:04:47.620
PROJECTS, MIKE, HAVE BEEN TALKED

00:04:47.687 --> 00:04:49.255
ABOUT DECADES, THAT NORTHWEST

00:04:49.322 --> 00:04:51.124
INDIANA ECONOMY, SUCH A BIG

00:04:51.190 --> 00:04:52.225
ECONOMIC ENGINE.

00:04:52.291 --> 00:04:53.359
HOW IMPORTANT ARE THOSE PROJECTS

00:04:53.426 --> 00:04:54.894
TO THAT REGION?

00:04:54.961 --> 00:04:55.928
>> RIGHT.

00:04:55.995 --> 00:04:59.699
WE'RE ESSENTIALLY A LARGE URBAN

00:04:59.766 --> 00:05:01.834
AREA, REALLY FROM SOUTH BEND

00:05:01.901 --> 00:05:02.702
WEST TO CHICAGO.

00:05:02.769 --> 00:05:05.672
AND WITH A LOT OF AVAILABLE

00:05:05.738 --> 00:05:06.639
DEVELOPABLE LAND THERE FOR

00:05:06.706 --> 00:05:06.873
PEOPLE.

00:05:06.939 --> 00:05:08.675
IT IS A GREAT PLACE TO LIVE.

00:05:08.741 --> 00:05:12.779
IF YOU CAN GET TO THOSE LABOR

00:05:12.845 --> 00:05:13.012
MARKETS.

00:05:13.079 --> 00:05:15.548
THIS CHANGES THE OPPORTUNITY FOR

00:05:15.615 --> 00:05:16.716
RESIDENTIAL DEVELOPMENT IN MY

00:05:16.783 --> 00:05:17.750
JUDGMENT, WE CAN SEE REALLY

00:05:17.817 --> 00:05:18.918
SIGNIFICANT GROWTH.

00:05:18.985 --> 00:05:20.420
I DON'T THINK THE GOVERNOR IS

00:05:20.486 --> 00:05:21.487
EXAGGERATING WHEN HE SAYS THIS

00:05:21.554 --> 00:05:22.422
IS GOING TO BE TREMENDOUS.

00:05:22.488 --> 00:05:24.123
TAKE A LONG TIME TO DEVELOP, BUT

00:05:24.190 --> 00:05:27.060
THIS IS HOW YOU MAKE THAT PART

00:05:27.126 --> 00:05:30.096
OF INDIANA READY FOR THE 21st

00:05:30.163 --> 00:05:30.363
CENTURY.

00:05:30.430 --> 00:05:31.431
>> MIKE HICKS, GREAT