WEBVTT

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>> RISING INTEREST RATES AND

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WHAT IT MEANS FOR THE STATE'S

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HOUSING MARKET AND THE GOVERNOR

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PREPARING TO HEAD OVERSEES TO

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DRUM UP BUSINESS IN SLOVAKIA AND

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ISRAEL TO HELP INDIANA'S ECONOMY

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CONTINUE TO GROW.

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THE INSIDERS ARE HERE TO OFFER

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PERSPECTIVE ON THOSE BUSINESS

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STORIES AND MORE. JOINING ME

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ARE:

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INDYPOLITICS.ORG PUBLISHER ABDUL

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HAKIM-SHABAZZ, INDY CHAMBER VP,

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INDIANAPOLIS ECONOMIC

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DEVELOPMENT PORTIA

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BAILEY-BERNARD AND VOX GLOBAL

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MANAGING DIRECTOR MIKE MARKER.

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WELCOME TO THE INSIDERS, PORTIA,

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YOU'RE A FIRST-TIMER, WE GIVE

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YOU A SPECIAL WELCOME.

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>> THANK YOU.

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>> I'LL GIVE YOU THE FIRST

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QUESTION.

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>> IT IS GREAT TO HAVE EVERYBODY

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BACK IN STUDIO.

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THE ECONOMY.

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EVERYONE WONDERING WHAT 2022

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WILL BRING, RISING INTEREST

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RATES, TO BE SURE.

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I KNOW INDIANA ECONOMIC

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DEVELOPMENT, YOU HAD A GREAT

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YEAR LAST YEAR, SOME BIG

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NUMBERS.

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TALK ABOUT THAT AND HOW YOU'RE

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VIEWING 2022.

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>> YES.

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SO WE FINISHED 2021 WITH

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$572 MILLION IN CAPITAL

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INVESTMENT, AND WE RETAINED AND

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CREATED ROUGHLY 7,000 JOBS.

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AND SO I NEED TO HAVE THAT DONE

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DURING A PANDEMIC IS JUST SIMPLY

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AMAZING.

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WHAT'S INTERESTING, TOO, IS OUR

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NUMBERS ARE TRACKING PREPANDEMIC

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LEVELS.

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AND SO WE DID SEE KIND OF A

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SHORTAGE IN OUR JOB CREATION,

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AND RETAIN.

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BUT I THINK THAT'S A LOT WE CAN

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CONTRIBUTE THE LABOR SHORTAGE.

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ECONOMIC GROWTH OCCURRING IN THE

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CITY, RECORD UPTAKES FOR OUR

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CITY'S PLANNING PETITIONS,

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INCLUDING VARIANCES, LAND USE,

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REZONING.

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SO A LOT OF DEVELOPMENT, REALLY

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EXCITING PROJECTS IN THE

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PIPELINE.

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I'M OPTIMISTIC ABOUT OUR FUTURE.

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>> POSITIVE OUTLOOK, PIPELINE

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LOOKING GOOD, MIKE, AS YOU LOOK

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AT THE RISING INTEREST RATES,

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THE SUPPLY CHAIN, TOYOTA

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ANNOUNCED THEY'LL HAVE TO SHUT

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DOWN FIVE DAYS BECAUSE OF SUPPLY

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CHAIN.

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DOES THAT THREATEN THAT

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OPTIMISTIC OUTLOOK?

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>> A LITTLE BIT.

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THERE ARE CERTAINLY HEADWINDS.

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CHAIRMAN POWELL SAID HE IS

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INCREASING RATES, DID IT, SHOWED

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A COMMITMENT TO DOING IT MORE.

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THAT SEEMED TO HAVE CALMED A

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FAIR AMOUNT OF NERVES.

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YOU SEE JOBLESS CLAIMS 50-YEAR

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LOW, A TIGHT LABOR MARKET.

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YOU ALSO SEE AUTOMATIC TAX

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REFUNDS COMING FROM A WHOLE

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BUNCH OF STATES, INCLUDING

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INDIANA, WHICH WITH COFFERS

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BEING WHAT THEY ARE.

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WE STILL FACE CHIP PRODUCTION

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ISSUES, THE IDLING OF PLANTS, A

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LOT OF WORK STILL.

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>> BASICALLY SORT OF THE DARK

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CLOUD IN THE BACK OF THE

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RELATIVELY GOOD PICTURE.

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I THINK IT IS INTERESTING THAT

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THE FED RATES AND INTEREST RATES

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HAVE BEEN SO LOW SO LONG, PEOPLE

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FORGOT WHAT IT IS LIKE TO HAVE

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5%.

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ALSO THE FACT THE JOB NUMBERS

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ARE GOOD, WE HAVE A MAJOR LABOR

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SHORTAGE.

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2.9% UNEMPLOYMENT IN INDIANA,

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NORMAL IS 5%.

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UNEMPLOYMENT IS ACTUALLY A

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LITTLE BIT TOO LOW.

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BUT ONCE AGAIN, A MATTER OF

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BALANCING -- THE GOOD NEWS, ALSO

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KEEPING TRACK OF ECONOMIC

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CHALLENGES.

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>> WHAT IS YOUR TAKE ON GLOBAL

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INTEREST.

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I THINK THERE IS A LOT IN

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INDIANA, GOVERNOR WEEK AHEAD TO

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SLOVAKIA AND ISRAEL, LIEUTENANT

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GOVERNMENT IN ISRAEL THIS PAST

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WEEK.

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INDIANA STILL ATTRACTIVE FOR

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GLOBAL --

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>> I THINK SO, INDIANA HAS A LOW

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TAX STRUCTURE, KIND OF SILLY

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THINGS IN THE LEGISLATURE, GET

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PAST THAT.

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WE'RE IN PRETTY GOOD SHAPE.

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I'VE BEEN TO CZECHOSLOVAKIA IN

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1988, FRIGHTENING DURING THE

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RUSSIAN REVOLUTION, RIPE FOR

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ECONOMIC DEVELOPMENT, FOR PLACES

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TO DO BUSINESS, A LOT OF

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BUSINESS IN GERMANY, JAPAN.

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NOW CENTRAL EUROPE AND THE

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MIDDLE EAST.

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>> WHAT HAS BEEN INTERESTING,

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PORTIA YOU TALKED ABOUT IMPRESS

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YOURSELF NUMBERS DURING THE

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PANDEMIC TO SEE PROJECTS LIKE

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ELECTRIC WORKS IN FORT WAYNE,

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BOTTLEWORKS HERE IN

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INDIANAPOLIS.

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THEY'RE HAPPENING, BOTTLEWORKS

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ANNOUNCED THIS WEEK PHASE TWO IS

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GOING TO HAPPEN.

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WHAT DOES THAT DO FOR ECONOMIC

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DEVELOPMENT EFFORTS TO GROAT

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ECONOMY?

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>> SO MUCH.

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BOTTLEWORKS IS THE TYPE OF A

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PROJECT THAT DRAWS TALENT, WHICH

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WE WANT HERE IN INDIANAPOLIS.

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AND WHEN PITCHING COMPANIES TO

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COME TO OUR COMMUNITY, THAT'S

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THE TYPE OF PROJECT OR

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DEVELOPMENT WE TOUT.

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WHAT IS INTERESTING ABOUT

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BOTTLEWORKS, THE SECOND PHASE

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WAS SUPPOSED TO BE HOUSING, AND

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THY SHIFTED TO OFFICE, WHICH IS

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REALLY SURPRISING TO A LOT OF

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FOLKS WHEN THINKING ABOUT THE

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PANDEMIC.

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BUT IN MY CONVERSATION WAS

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DEVELOPERS, A LOT OF THEM TOLD

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US THEY'VE SEEN A DEMAND FOR

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OFFICE SPACE IN THIS TYPE OF

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MULTI-DISTRICT NEIGHBORHOODS.

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WHICH MAKES SO MUCH SENSE

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BECAUSE IF YOU THINK ABOUT IT,

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FOR THE LAST TWO YEARS,

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EMPLOYEES HAVE BEEN -- THE

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LUXURY OF THEIR OWN HOME, IT IS

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GOING TO TAKE A LOT TO GET AN

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EMPLOYEE TO COME BACK TO WORK.

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I THINK WE'RE GOING TO SEE THE

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SHIFT FROM OUR TRADITIONAL

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TOWERS TO MORE OF THESE

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MULTI-DISTRICT NEIGHBORHOODS

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WITH AMENITIES, HOTELS, YOU CAN

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WORK OUT, GRAB A BEER AFTER

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WORK.

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EXCITING, AND DOING WELL.

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AND THAT IS ONE OF MY FAVORITE,

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RIGHT IN MY BACKYARD, WE SPEND A

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TON OF TIME THERE.

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>> HIGH ALPHA, LUMINA

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FOUNDATION.

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MIKE, YOU'RE A FORT WAYNE GUY,

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ELECTRIC WORKS, FOR ANY CITY,

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ANY SIZE TO DO SOMETHING LIKE

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THAT IS IMPRESSIVE, BUT IT IS

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AMAZING WHAT THEY'RE DOING UP

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THERE WITH ELECTRIC WORKS IN

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FORT WAYNE.

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>> THERE'S A LOT OF MOMENTUM IN

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FORT WAYNE, ELECTRIC WORKS A BIG

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PART.

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THE UNION STREET MARKET THEY

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HAVE COMING IN WITH THE LOCAL

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BUSINESS OWNERS, AND FOOD

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RETAILERS IS THE NEXT PHASE.

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AND ADD ON TO WHAT THE GOVERNOR

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IS DOING GOING OVERSEAS, WHAT'S

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GOING ON IN DIFFERENT REGIONS,

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INCLUDING INDIANAPOLIS WITH

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ECONOMIC DEVELOPMENT LEADERS, A

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LOT OF MOMENTUM THERE, AND WE'RE

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GOING TO SEE IT COMING THE END

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OF MAY.

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DOING SOMETHING REALLY SMART

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WITH THIS GLOBAL ECONOMIC

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SUMMIT, TAKING MOMENTUM OF WHAT

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IS GOING ON AROUND THE STATE AND

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BRINGING MORE PEOPLE TO SAY YOU

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CAN SITE WORK AND GROW WORK.

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>> SPORTS QUESTION, MATT RYAN,

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FROM THE FALCONS TO THE COLTS,

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IS HE THE ANSWER?

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>> I THINK HE'S THE ANSWER NEAR

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TERM.

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IF WE WANT TO GET TO ANOTHER

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SUPER BOWL QUICK, HE'S

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DEFINITELY THE ANSWER, THROW THE

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BALL A LITTLE BIT, HAND THE BALL

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TO J.T. AND LET'S GO.

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>> I DON'T CONSIDER MYSELF AN

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EXPERT IN SPORTS.

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MY FRAME OF REFERENCE IS BASED

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ON WHO THEIR WIVES ARE.

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SO RUSSELL WILSON, THAT IS

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SIERRA'S.

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TOM BRADY, GISELE'S HUSBAND.

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I WELCOME SARAH AND HER HUSBAND

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TO INDIANAPOLIS.

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>> A GREAT WAY -- PORTIA

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BAILEY-BERNARD, VP OF

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INDIANAPOLIS ECONOMIC

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DEVELOPMENT, MARK MARKER, ABDUL

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HAKIM-SHABAZZ, THANKS ONE AND