Indiana's Best Business Sectors

Indiana is sometimes said to have a reputation of the “Crossroads of America”. It has all the chances of significant development and growth but still let’s observe a few peculiarities connected with Indiana’s business-sectors and try to define the best ones.

When we deal with business-sectors we do necessarily involve some points regarding economic sectors. Obviously, business created in any country or state will not be able to develop and grow separately from the economic sectors. So in order to create the accurate picture we will take into consideration a few special sectors.

First of all, let’s talk about manufacturing. It has been the most significant part of Indiana’s economy for many years. Moreover, Indiana still has the reputation of the nation’s most manufacturing-intensive economy. It should be said that Indiana’s manufacturing sector saw a significant decline but in spite of this Indiana has the ability to offer a few countervailing trends that may let the state to survive the national storm much better than many of other states. The most important thing is that the manufacturing sector Indiana boosts strengths in medical device and production pharmaceutical. Think of starting your new business in these sectors as medical and pharmaceutical areas are more likely to be resistant to economic cycles. Many companies involved in this sector have given well-paying jobs to their future employees. Indiana’s cluster of contract manufacturers is likely to benefit accordingly.

Indiana has all the abilities to make capital on the growth of the so-called “clean technologies” sector. Now we are dealing with fuel biofuels, solar, cells and wind power. Some economists predict a $255 billion collaboration by 2017.

Logistics is another sector of the economy that has many challenges and unique opportunities. Manufacturing and logistics are tied together and create a part of the broader supply chain. It should be mentioned though manufacturing output will influence on the fortunes of the state’s logistics to a certain extent.

Due to Indiana’s advantageous geographical position we will still be able to observe certain growth and development in the warehousing and distribution sectors. According to the statistics, Indiana is considered to be the first among states in interstate access and among the top fifteen in maritime and air freight. Anyway, the economists still predict the further improvement of the logistics sector. In other words, a great amount of new jobs will be provided by this sector in the future.

Indiana is fortunate to possess more than its share of biotech, pharmaceutical and medical device companies. The list of the nation’s top enclaves of life sciences firms does include Bloomington, Fort Wayne, Indianapolis and Warsaw house. The mentioned above companies made significant profit in 2008 and less sensitive to business cycle downturns than those companies involved in consumer goods and electronics. In spite of the fact that recent trends do impact these companies they are likely to show significant growth, for instance, an important purpose concerns reducing the growth of healthcare expenditures.

So Indiana’s sectors do manifest the signs of development.