The economy of the state of Indiana is reflected in its gross state product in 2017 of US$359 billion and per capita income of $44,165. A high percentage of Indiana’s income is from manufacturing.
Economy of Indiana.
| Statistics | |
|---|---|
| GDP | $352,272.7 million |
| GDP per capita | $43,492 |
| Population below poverty line | 13.1% |
| Gini coefficient | 0.434 |
Does Indiana have a strong economy?
Economic Outlook Rank
Indiana is currently ranked 7th in the United States for its economic outlook. This is a forward-looking forecast based on the state’s standing (equal-weighted average) in 15 important state policy variables. Data reflect state and local rates and revenues and any effect of federal deductibility.
Is Indiana a rich or poor state?
In 2020, the U.S. poverty rate was 11.4%, up a percentage point from the previous year. The rate varies widely from state to state, with most wealthy states having a poverty rate below 9%.
Poorest States 2022.
| State | Mean Household Income |
|---|---|
| Idaho | $73,810 |
| Montana | $74,190 |
| Tennessee | $74,750 |
| Indiana | $75,025 |
What is Indiana’s biggest industry?
In Indiana, chemical manufacturing is the largest industry, accounting for 6.1% of the state’s total GDP of $379.7 billion. The industry’s annual economic output totals $23.3 billion, a 15.6% increase over the last five years. Overall employment in the industry totals about 31,600, or 1.0% of all jobs in Indiana.
What is Indiana’s biggest economic activity?
Services. In the early 21st century the services sector, including trade, had clearly arisen as the largest segment of Indiana’s economy, in terms of both income and employment.
How depressing is Indiana?
The state ranked a depressing 49 out of 50 on our social relationships rank; only Rhode Island was lonelier. We also straggled along at No. 47 for purpose and No. 44 for physical.
Is Indiana a good state to live in?
Is Indiana a Good Place to Live? Indiana is one of the best states to live in because it boasts the lowest cost of living, low crime rates, and plenty of job opportunities with a growing automotive industry. As the state with the lowest cost of living, it also makes sense that it has incredibly affordable housing.
Is Indiana a depressing state?
May is Mental Health Awareness month. According to the National Alliance on Mental Illness, one in five adults have symptoms of a mental illness nationally.
What are the 10 poorest states in the US?
These states and territories have the highest percentages of poverty in the country: Mississippi, Louisiana, New Mexico, Kentucky, Arkansas, West Virginia, Alabama, the District of Columbia, South Carolina, and Georgia.
Which state is richest in USA?
Richest U.S. States by GDP
- 1. California. California, the nation’s most populous state, has the largest state GDP of $3,120,386,000. California’s median household income is $80,440, the sixth-highest in the U.S.
- Texas.
- New York.
- Florida.
- Illinois.
Who is the largest employer in Indiana?
Go Electric
Detailed List Of The 100 Biggest Companies In Indiana
| Rank | Company | Employees |
|---|---|---|
| 1 | Go Electric | 283,000 |
| 2 | Anthem | 63,900 |
| 3 | Cummins | 62,600 |
| 4 | Eli Lilly and Company | 40,655 |
How does the state of Indiana make money?
In Indiana in fiscal year 2015, 60.3 percent of total tax revenues came from sales taxes and gross receipts. Income taxes accounted for 35.6 percent of total state tax collections. Education accounted for 36.6 percent of state expenditures in fiscal year 2015, while 31.2 percent went to Medicaid.
How big is the economy of Indiana?
Overview of the Indiana Economy
Indiana’s gross state product (GSP) in 2019 reached $332.0bn, with growth of 1.1% over the 5-years to 2019. Businesses in Indiana employed a total of 24.2 million in 2018, with average annual employment growth of 2.6%.
What are the most common jobs in Indiana?
Detailed List Of The Most Common Jobs In Indianapolis, IN
| Rank | Job Title | Count |
|---|---|---|
| 1 | Customer Service Representative | 8,677 |
| 2 | Cashier | 8,517 |
| 3 | Sales Associate | 4,562 |
| 4 | Internship | 3,827 |
What is Indiana known for producing?
Indiana is a leading producer of corn, soybeans, poultry and popcorn, and it ranks 10th in the nation for agricultural sales.
What are the top three industries in Indiana?
The Biggest Industries In Indiana
- Energy Sector. The principal source of power in Indiana is fossil fuels, particularly coal.
- Pharmaceuticals And Medical Devices. Indiana is one of the leading manufacturers of pharmaceuticals in the U.S. and home to the international headquarters of Eli-Lilly.
- Mining.
- Transportation.
Is Indiana a boring state?
Indiana is ranked the 38th-most fun state in America, which is a polite way of saying its the 13th-most boring. Kentucky fared even worse, checking in as the 42nd-most fun state, or ninth-most boring.
Does Indiana pay state taxes?
Indiana has a flat statewide income tax. In 2017, this rate fell to 3.23% and remains there through the 2021 tax year. However, many counties charge an additional income tax. The statewide sales tax is 7% and the average effective property tax rate is 0.81%.
What is it like living in Indiana?
Living in Indiana is pretty much the same as living in any other Midwest “fly-over” state. On the upside, the population is not very dense so it feels like you have some space to breathe, and traffic is light. Crime is low because corn outnumbers the bad guys. Schools are decent and Universities are great.
What are the pros and cons of living in Indiana?
Pros And Cons Of Living In Indiana
- Low cost of living.
- Friendly people.
- Low crime rates.
- Excellent universities.
- Nice 4-season weather.
- Cold and snowy winters.
- Lack of diversity.
- Limited public transportation.
What is a good salary in Indiana?
Average Salary in Indiana. $46,491 is the 25th percentile. Salaries below this are outliers. $70,440 is the 75th percentile.