Indianapolis – A Unique Economic Opportunity

As we look to the next few years, what exactly should you know about the economic state of Indiana and the world at large?

If we have learned anything from the last few weeks, months, and years, it is that the future is uncertain. The best you can do for an uncertain future is to remain proactive. For CEOs, millennials, and just about everyone in-between, educating yourself and your organization on what is to come will set you up for success. While it is impossible to predict exactly what is around the corner, March 2020 being a perfect example, we can utilize forecasting to inform our decision-making.

Last week, Blackink IT sponsored the 2021 Economic Strategy Forum, led by Alan Beaulieu, CEO of ITR Economics. The discussion was an opportunity for business leaders in Greater Indianapolis to capitalize on the economic projections in the United States, and more specifically, Indiana.  

From the discussion, a few points are going to be the difference of your organization surviving or thriving throughout economic uncertainty.  

Some things to note:

Great Depression Projected in the 2030s

  • As the national deficit goes up, this prediction is reinforced
  • Businesses should be thinking about efficiency in every part of their operation – less cash, less labor, and less complex processes  

Tax Increases are Coming, the Question is Simply When?

  • Corporation – 26.5%
  • Captial Gains – 28.8%  
  • 3% Surtax

Emphasis on Climate Change

  • There is no more escaping it – it concerns hiring and every business decision

Indianapolis is a destination for overseas companies

  • Indiana is a destination for foreign direct investment and a destination for reshoring  
  • Emphasis on nationalism from globalization – protecting our supply chain and our interests

GDP Per Capita has steadily increased from 1947-2008

  • Since then, our rate of growth has slowed

Inflation is coming, interest rates are guaranteed to increase

  • Invest in your business – your products, your processes, and make acquisitions
  • For example – buying a new machine, a new CRM, etc., will pay off in the long-term
  • Labor issues will keep eating into your margin, be proactive now

Curious about learning more information from the event? We have recorded the forum for your access, please reach out to Cat Edmonds for your copy of the file.

Please note that Dr. Alan Beaulieu regards the information most relevant before October 15, 2021.