Indiana Is Number 1 In Attracting Foreign Direct Investments

Indiana Companies
With Foreign Investment

Indiana is a "juggernaut" when it comes to attracting foreign companies and their investments, -- hat tip to The Hoosierpundit for pointing out an eye opening Midwest Business report. A lot of those enterprises attracting foreign capital are right here in Northwest Indiana.

Writes Midwest Business in their Hoosier Coefficient column:

When you consider that Indiana leads the nation in manufacturing operations, it becomes obvious why Honda, Toyota and Subaru operate major facilities throughout Hoosierland with more on deck. It also makes complete sense why Indiana Gov. Mitch Daniels leaves on Friday to lead his third major trade foray into the prosperous land of the cherry blossoms.

While I'm sure there are some who would disagree, it is nice reading that Indiana is number one at attracting foreign capital to our state's economy. It's also great to hear that Indiana is number one in manufacturing operations.

And, reading this at the top of the Hoosier Coefficient column warms a Hoosier heart:

The mission of The Hoosier Coefficient, which appears on MidwestBusiness.com every Thursday, is to profile the often-overlooked rich technology development and commercialization in Indiana. The Hoosier state is home to four of the top technology research and engineering universities in the nation and tech pros ignore Indiana at their own peril.

Indiana direct foreign investment manufacturing economy technology

Should Indiana End Property Taxes?

State lawmakers are trying to figure out ways to solve the property tax crisis that threatens to raise Indiana home owner's taxes by an average of 24 percent across the state.

Increasing taxes have 91% of those polled in a recent NWI.com poll calling for a Boston Tea Party over heavy taxes.

Should the solution be the elimination of property taxes on Indiana homes? Or are we missing out on the real reasons why property taxes -- or soon to be increased income and sales taxes -- could send the state into an economic death spiral.

From what lawmakers have said, ending the taxation of property taxes would result in higher income and sales taxes. It would seem that ending the burden of one tax form would result in higher taxes at the checkout line and on Indiana citizens' paychecks-- increase of up to 13.2 percent for the sales tax and 9 percent for an Indiana income tax, according to the Northwest Indiana Times.

The Indiana General Assembly's nonpartisan forecasting arm says lawmakers would need to embrace extensive income or sales tax hikes to replace the $6.2 billion raised by property taxes. It could be done by hiking the 6 percent sales tax to 13.2 percent, raising the 3.4 percent individual income tax to 9 percent, or by imposing a 9.5 percent sales tax and a 6 percent income tax.

Advance America, a conservative advocacy group, contends the property tax could be repealed if lawmakers raise the sales tax to 8 percent, increase the income tax to 4.4 percent, add a new business tax to generate $500 million a year and impose an inflationary cap of 3 percent or less on state and local spending increases. Lawmakers argue the Advance America plan would fall far short.

The choices offered by state leaders seem to just shuffle the burden from real estate owners to wage earners. While this is beneficial and welcome for homeowners on fixed incomes who can no longer afford to pay their property taxes because of out of control property taxes, it doesn't end the pain for people who will see less of their paycheck because of increased withholding for state taxes -- not including local taxes that are also in the works. And, paying an European-style 13.2 percent sales tax isn't appealing either.

What I haven't heard are plans to cut back on government spending to end some of the pain. While nobody likes to hear that their "free" government services are going to be cut, maybe it is time to figure out what state and local programs can be scaled back to save some money so that we don't have to tax people into moving to Illinois for tax relief!

Indiana property taxes sales taxes Tax Revolt local income taxes

St. Margaret Mercy Flood Damage Estimated at $10 Million

Flood damage to St. Margaret Mercy Hospital in Dyer could be $10 million, said ABC 7 Chicago news anchor Ron Magers on WLS AM's Roe Conn Show this afternoon.

St. Margaret Mercy has opened a temporary emergency room, reports ABC 7 Chicago.

St. Margaret Mercy Hospital Flood Plum Creek Dyer Northwest Indiana Indiana

All Lanes Flooded On Borman Expressway At Kennedy Avenue in Northwest Indiana

Flood water blocks all lanes
of the Borman Expressway
at Kennedy Avenue in Northwest Indiana

Flooding continues to cause traffic nightmares for travelers in Northwest Indiana traveling on the Borman Expressway -- I-80 & I-94 -- this morning as INDOT crews seek ways to drain the interstate highway.

Tech Tags: Borman+Expressway flooding I-80 I-94 Kennedy+Avenue Highland Indiana highway+closed all+lanes+closed