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Kelley School Of Business Releases 2017 Economic Forecast

Auto sales and Life Sciences spur economic growth in Indiana

INDIANAPOLIS, IN -- The Indiana University Kelley School of Business released its annual economic forecast for 2017. 

Kyle Anderson, clinical assistant professor of Business Economics at the Kelley School of Business in Indianapolis weighed in on the current state of the Indiana economy.

He says in spite of Indiana's struggles with incomes for Hoosier workers, he says the state has been catching up and has been experiencing good growth over the past year. 

Anderson attributes a number of different factors that have contributed to the states economic growth in 2016. He credits good auto sales, which drive the manufacturing economy, have played a big role. He gives credit to advances in life sciences having a greater impact as well. 

"I hope wages will go up," Anderson tells Inside Indiana Business. "We've kind of been waiting for it to happen, but they've been really flat. We've seen very little movement in terms of wage growth and we're ready for it."

Anderson says with unemployment getting lower and lower, businesses will have to start paying more to attract a better work force, and he expects local businesses to do so in the very near future. 

He also stresses the need for more investments.

"We need to make some investments," Anderson said. "We need more investments in education, we need investments in infrastructure and so far we've been pretty reluctant. I think those are things that can spur some economic growth." 

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