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State of the State Recap from 1816 Public Affairs Group:
Tonight, Governor Holcomb delivered the 2022 State of the State address. The Governor used the occasion to provide a comprehensive progress report, celebrating accomplishments and identifying opportunities to enhance quality of life for all Hoosiers by strengthening the economy, reskilling the workforce, and expanding and investing in the state’s infrastructure.
The Governor specifically thanked law enforcement officers, frontline workers still grappling with the pandemic, and everyone who helped with the resettlement of Afghan refugees.
On Fiscal Management:
The Governor touted the state’s fiscal management and budget outlook, stating, “Sound fiscal management over time has become our state’s reputation.” He cited accomplishments like nine straight balanced budgets, a AAA credit rating, a $3.9B reserve, a $545M tax refund for Hoosiers, an extra $1.1B investment in the teachers’ pension fund, and a 24% state debt reduction since 2017.
Governor Holcomb reiterated his desire to eliminate the 30% business personal property tax floor on new equipment to ensure Indiana is competitive with surrounding states.
On the Economy:
The Governor highlighted the state’s number 1 ranking in GDP growth among surrounding states. Indiana’s GDP has grown from $353B in 2017 to $415B now. He also mentioned that Indiana ranks number 1 in personal income growth and population growth among neighboring states. Indiana ranks 6th in the nation for inbound migration. The unemployment rate – 3% - is the lowest since 2000.
On Jobs and Business Investment:
According to the Governor, the last four years have been record-breaking years for investment and job commitments. In 2021, the IEDC set all-time records in new capital investment ($8.7B), new payroll ($1.8B), and new job commitments (31,700).
On Renewable Energy:
Governor Holcomb said, “more and more solar projects are cropping up all across our state . . . these industries make Indiana the shiny new buckle on what used to be known as the old rust belt.”
On Education:
The Governor noted that a record $1.9B in new dollars will be invested in K-12 education over the next biennium, and the tuition support formula is being increased by 9%. In 2021, 85% of school corporations raised teacher salaries by an average of $1,800, and 80% of schools will meet the goal of $40,000/year for new teacher salaries.
The DOE is adding more pathway programs and several accelerated learning programs. He also called for the DOE to make progress on strengthening the teacher pipeline and attracting a diverse pool of educators.
On Workforce:
Governor Holcomb spoke about the success of the Workforce Ready and Employer Training Grant programs. More than 52,000 Hoosiers have enrolled in the Workforce Ready program and, on average, enrollees saw an average wage gain og $6,800/year. 41,000 Hoosiers have participated in the Employer Training Program and achieved an average pay raise of $4,000.
On Public Health:
The Governor cited progress on public health, in areas like reducing infant mortality, but recognized that there is still much work to be done. He specifically mentioned critically low rankings in obesity, smoking, and childhood immunizations.
The Lieutenant Governor is committed to addressing mental health issues in Indiana by expanding access to services, growing the workforce, rolling out the federal suicide hotline, and reducing the stigma of mental heath challenges.
On Infrastructure:
Governor Holcomb is focused on building a 21st century infrastructure network to link Hoosiers to each other, the nation, and the world. The state is deploying $60B to expand and enhance roads and bridges over 30 years, and the Governor specifically cited the near-completion of the I-69 project.
The Governor spoke glowingly of two transformational commuter rail projects – the South Shore double track and the West Lake Corridor.
Nearly $420M has been committed to water infrastructure, and $780M has been committed for capital projects like a new state archives building, correctional facility, deaf and blind schools, and a new inn at Potato Creek State park.
On Broadband:
The Governor gave a brief update on broadband, and the nearly $350M allocated to deliver broadband to everyone in Indiana. He said that the state has received more than $600M in requests for broadband service.
On Regional Development:
The Governor highlighted the success of the $500M READI grant program which is designed to accelerate economic growth and improve quality of life throughout Indiana’s regions.
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