By Leah Sander
InkFreeNews

WINONA LAKE — Indiana Secretary of Commerce Brad Chambers says the state’s economy is doing well.

Chambers was the main speaker for the Kosciusko Chamber of Commerce’s annual awards dinner on Thursday, Jan. 26. Lake City Bank President and CEO David Findlay interviewed Chambers in Grace College’s Manahan Orthopaedic Capital Center in Winona Lake before an audience of about 530.

Indiana Secretary of Commerce Brad Chambers

Findlay asked Chambers: “When you meet with (Gov. Eric Holcomb) and when you walk into (his) office and he says how’s it going, what’s your answer?”

“You know $8.7 billion worth of investments is a historic high in ’21, and we did $22 billion in ’22, so we did a 250% increase in capital investment that is committed to the state and more importantly to me was the wages were higher,” said Chambers. “My sole focus was making sure that we’re not underselling our product. Our state is not average; our GDP shouldn’t be average. Our wages shouldn’t be average: we should be above average.”

“We delivered a record-setting year of $22 billion in capital investments … and the wages were higher,” continued Chambers. “And I’m a competitive guy, so … (for) 2023, we need to aim higher and shoot faster.”

Chambers noted in response to another question that he wants to compete against other state economies.

“We’re very competitive against Ohio and certainly Kentucky and definitely Illinois and Michigan, but I want to compete against North Carolina and Texas, that’s a $1.7 trillion economy,” said Chambers. “We’re a $440 billion economy; I want to compete against Texas and Arizona, and we are. We are in the midst of those guys in some of these industries.”

Findlay also asked Chambers: “What can we do to stimulate more affordable housing for the workforce?”

Chambers noted it was important to consider as according to U-Haul’s statistics, Indiana had ranked as one of the top states for people to move to.

He said through the Indiana Economic Development Corp.’s Regional Economic Acceleration and Development Initiative, money was available for communities to put toward housing needs. The Indiana General Assembly approved the start of that program.

Chambers acknowledged construction costs and inflation have compounded problems with building new housing in smaller communities. He said the General Assembly allowing more READI funds to go toward housing could help.

“We also have a tool called RTC credits to help stimulate housing and then all the local municipalities … have (tax increment financing) and TIF should be used … and so we have the tools, but it’s not easy, but housing, we need to continue to keep a focus on and get more housing units because there’s a demand for it,” said Chambers.