CNBC: Gov. Mitch Daniels on Indiana’s Economy

By October 29, 2007Around the States

In a CNBC interview today with co-anchor Bill Griffeth, Indiana Governor Daniels (as always) lays out the issues in sharp form, making the case for tax reform and giving credit to manufacturing for state’s economic health.

GRIFFETH: Where does your job growth come from right now?

Gov. DANIELS: A lot of it has been industrial. We are the first state in America with three Japanese assembly plants the only state with two Toyota plants, the only state with Toyota and Honda, just for instance. And again, many other international companies have been part of this. We’re also getting a great diversification in the life sciences, in information technology, and AG-related business, agriculture is growing quickly in income and its contribution here once again.

GRIFFETH: But like many states in your situation geographically and otherwise, you’ve had to offer tax incentives to companies to grow jobs in your state, haven’t you?

Gov. DANIELS: Yes, but much more modest than other states. We operate the whole business of economic development as a business. I changed it to a nonprofit corporation model. I chair its board. We’ve got hard-fisted business people on there and one of the metrics we look at most carefully is dollars of income and new jobs per dollar of state subsidy. And we have routinely won competitions with other states while offering fewer subsidy dollars. These things most often, Bill, are won by macro criteria of economic climate, transportation, and so forth.

The Indiana economic development website, complete with the theme, “Accelerate Your Business,” prominently features manufacturing sites.

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